Use of Statistics in Daily Life

Introduction to Use of statistics in daily life:-

Statistics   deal with frequency distribution.   It is used to compare twoor more frequency distribution taken from different
population to see if there are any differences between them.
The statistics uses the following measures for the   comparisson.   They are mean, median and mode.
Mean is the average of all the observations.
Median is the middle most value of the observations and mode   has the maximum frequencies.
Let us see the use of statistics in daily life.

Use of Satistics in Daily Life :mean
Mean can be used to see the average mark of the class obtained.   This average helps to see how many students
are above average, how many are average students and how many are below averages. The teacher tries to help the
average and below average students to score more grades   in future.
In a factory, the mean of the wages   helps the   authorities to know if the workers' welfare is maintained.
It also helps to compare the salaries of   the employees of the different companies.
In sales, the average sales   in the district helps the sales manager to plan for   increasing the sales in the future.
The governemnt takes the average income and expense of the citizens to know whether the citizens rights are maintained.
The family finds the average of their expenses to   balance their finance.
The average production of agricultural commodities, the industrial goods, the average exports and imports help the country to see   their developments.

Use of Statistics in Daily Life - Median & Mode
Median is the middle value.   It helps us to see both the sides of the middle value.   It divides the information into two equal
parts, one part lesser than median and the other more than the median.
Median is calculated after   arranging the information in ascending orer or descending orer.
Median is used to find the students who score less or more than the middle value.
Median is calculated to find the distribution of... [continues]

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