) Business uses stats to make predictions, increase their profits.
2) We all use stats, everytime we make an informed guess about
the world around us. E.g. (those clouds are dark, it's probably going
to rain today) -Not very sophisticated, but that's where it starts.
3) When you read a poll in the newspaper, a confidence interval is
often given. It tells you how confident you can be in the poll.
4) Public safety uses stats -to make sure theres a very small chance
something might go wrong
5) Probability can be fun and challenging (See Monty Carlo Paradox)Statistics are sets of mathematical equations that are used to analyze what is happening in the world around us. You've heard that today we live in the Information Age where we understand a great deal about the world around us. Much of this information was determined mathematically by using statistics. When used correctly, statistics tell us any trends in what happened in the past and can be useful in predicting what may happen in the future.
Let's look at some examples of how statistics shape your life when you don't even know it.
1. Weather Forecasts
Do you watch the weather forecast sometime during the day? How do you use that information? Have you ever heard the forecaster talk about weather models? These computer models are built using statistics that compare prior weather conditions with current weather to predict future weather.
2. Emergency Preparedness
What happens if the forecast indicates that a hurricane is imminent or that tornadoes are likely to occur? Emergency management agencies move into high gear to be ready to rescue people. Emergency teams rely on statistics to tell them when danger may occur.
3. Predicting Disease
Lots of times on the news reports, statistics about a disease are reported. If the reporter simply reports the number of people who either have the disease or who have died from it, it's an interesting fact but it might not mean...
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