Importance of Statistics in Society
(Lecturer: Statistics and Research Methodology)
Nepal Commerce Campus
Tribhuvan University
Kathmandu, Nepal
Email:drbhandari2012@gmail.com
Statistics plays a vital role in every fields of human activity. Statistics has important role in determining the existing position of per capita income, unemployment, population growth rate, housing, schooling medical facilities etc…in a country. The statistical tools like Index number, correlation, time series analysis, regression analysis, hypothesis testing, and multivariate analysis help to analysis data and predict about future. Now statistics holds a central position in almost every field like Industry, Commerce, Trade, Physics, Chemistry, Economics, Mathematics, Biology, Botany, Psychology, astronomy etc…, . So application of statistics is very wide. Statistics helps in providing a better understanding and exact description of a phenomenon of nature. It helps in proper and efficient planning of a statistical inquiry in any field of study by collecting an appropriate quantitative data. Statistics helps in understanding the nature and pattern of variability of a phenomenon through quantitative observations and helps in drawing valid inference, along with a measure of their reliability about the population parameters from the sample data. Statistics are the ‘straws out of which Economists have to make bricks’. Statistical data and their analysis are used to solve a variety of economic problems such as in consumption, production, distribution of income and assets, poverty, unemployment etc. These problems are described, compared and correlated by using statistics. Use of statistics in Economics has led to the formulation of many economic laws like Engel’s law of consumption, Pareto’s Laws of distribution of income etc.

...analysis, other decision making techniques are discussed. These techniques
include decision analysis, project scheduling and network models.
Chapter 1 illustrates a number of ways to summarise the information in data sets, also known as
descriptive statistics. It includes graphical and tabular summaries, as well as summary measures
such as means, medians and standard deviations.
Uncertainty is a key aspect of most business problems. To deal with uncertainty, we need a basic...

...Organization of Terms
Experimental Design
Descriptive
Inferential
Population
Parameter
Sample
Random
Bias
Statistic
Types of
Variables
Graphs
Measurement scales
Nominal
Ordinal
Interval
Ratio
Qualitative
Quantitative
Independent
Dependent
Bar Graph
Histogram
Box plot
Scatterplot
Measures of
Center
Spread
Shape
Mean
Median
Mode
Range
Variance
Standard deviation
Skewness
Kurtosis
Tests of
Association
Inference
Correlation...

...Normal(88.532,5.07943)
Normal(97.1033,5.04488)
Normal(107.15,5.15367)
Summary Statistics
Mean
88.532
Std Dev
5.0794269
Std Err Mean
0.2271589
Upper 95% Mean
88.978306
Lower 95% Mean
88.085694
N
500
Sum
44266
Summary Statistics
Mean
97.103333
Std Dev
5.0448811
Std Err Mean
0.2912663
Upper 95% Mean
97.676525
Lower 95% Mean
96.530142
N
300
Sum
29131
Summary Statistics
Mean...

...Trajico, Maria Liticia D.
BSEd III-A2
REFLECTION
The first thing that puffs in my mind when I heard the word STATISTIC is that it was a very hard subject because it is another branch of mathematics that will make my head or brain bleed of thinking of how I will handle it. I have learned that statistic is a branch of mathematics concerned with the study of information that is expressed in numbers, for example information about the number of times...

...the written application of operation. It teaches students to think clearly, reason well and strategize effectively. Mental Mathematics is the ability to utilise mathematical skills to solve problems mentally. The marks scored by pupils generate statistics which are used by teachers to analyse a student’s performance and development of theories to explain the differences in performance.
The Standard 3 class is where the transition from junior to senior level occurs where...

...Statistics 1
Business Statistics
LaSaundra H. – Lancaster
BUS 308 Statistics for Managers
Instructor Nicole Rodieck
3/2/2014
Statistics 2
When we hear about business statistics, when think about the decisions that a manager makes to help make his/her business successful. But do we really know what it takes to run a business on a statistical level? While some may think that business...

...Professor Dumonceaux
Descriptive Statistics Paper
2 June 2014
Finding a New Home
According to Trochim, “Descriptive statistics are used to describe the basic features of the data in a study. They provide simple summaries about the sample and the measures. Together with simple graphics analysis, they form the basis of virtually every quantitative analysis of data” (Trochim, 2006). For many years, many studies and researches have been done in real estate market....

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