Applied Statistics: Statistics is the study of the data, and how it can be analyzed, collected and presented in order to answer the questions pertaining to world around us. Impact of the statistics profoundly affects the society today. Statistical survey results, tables and the language of probability are used with increasing the frequency by media. Improvements in the computer technology make it easier than ever to use the statistical methods and to manipulate the massive amounts of data.
Statistics has a strong influence on the social sciences, engineering, physical sciences, industry and business. A statistician often finds that a career in the field of statistics not only requires the knowledge of statistics, but also the knowledge about the field generating question of interest. Common fields of application include the business, economics, demography, environmental science, engineering, geography, psychology, the health sciences and sociology, among others.
The applied statistics minor utilizes an interdisciplinary standpoint to develop student's ability to perform the statistical analysis. This minor will prepare students to analyze the data in their professional work. In addition, it will also provide the background for those students who intend to pursue the work in applied disciplines.
The applied statistics includes the application of statistical me' and the techniques to the problems and the facts as they exist. Applied statistics is classified into two parts (a) Descriptive (b) Scientific.
(a) Descriptive Statistics:
Descriptive measures are used to characterize of the figures on Industrial output, agricultural output or population growth are the instances of the descriptive study. For example, the production statistics explain the nature and the volume of production trends in diverse years. Likewise, statistics for prices and wages are the useful in framing the policies in country.
(b) Scientific Statistics:
Scientific statistics are involved in making the forecasts, estimation or judgments. With the help of the statistical data, validity of the certain laws can be correctly recognized.
Importance of Statistics in Different Fields
The Statistics plays a essential role in every fields of the human activity. Statistics has important role in determining existing position of per capital income, housing, unemployment, population growth rate, schooling medical facilities etc. in a country. Now statistics holds a central position in almost every field like Commerce, Trade, Industry, Physics, Economics, Chemistry, Botany, Biology, Astronomy, Psychology etc. so application of the statistics is very broad. Here we discuss some vital fields in which the statistics is commonly applied.
(1) Business:
It plays an important role in the business. A successful businessman must be very accurate and quick in the decision making. He knows very well that what his customers needs, he should therefore; know what to manufacture and sell and in what quantities. Statistics helps the businessman to plan production according to taste of costumers, quality of the products can also be checked more efficiently by using the statistical methods. So all the activities of a businessman based on the statistical information. He can make accurate the decision about the location of the business, marketing of products, the financial resources etc.
(2) In Economics:
It plays an important role in the economics field. Economics largely depends upon the statistics. National income accounts are multipurpose indicators for administrators and economists. Statistical methods are used for the preparation of these accounts. In economics research statistical methods are used for the analysis and collecting the data and testing hypothesis. The relationship between the supply and the demands is studies by the statistical methods, inflation rate, imports and exports, per capita income are the problems which require the good knowledge of statistics.
(3) In Mathematics:
Statistical plays a innermost role in almost all the natural and social sciences. The methods of natural sciences are most consistent but the conclusions draw from them is only feasible, because they are based on the incomplete evidence. The Statistical helps in describing these measurements more precisely. Statistics is the branch of applied mathematics. The large number of statistical methods like dispersions, estimation, probability averages etc. is used in the mathematics and different techniques of the pure mathematics like differentiation, integration and algebra are used in the statistics.
(4) In State Management or Administration:
Statistics is important for a country. The different policies of the government are based on statistics. The Statistical data are now broadly used in taking all the administrative decisions. Suppose if the government wants to modify the pay scales of the employees in view of an increase in living cost, the statistical methods will be used to determine the rise in cost of living. Preparation of the federal and the provincial government budgets mainly depends upon the statistics because it helps in estimating the predictable expenditures and income from the different sources. Thus statistics are the eyes of administration of the state.
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