Importance of Statistics in Different Fields.pptx

Importance of Statistics

1. Importance of Statistics in Different Fields

2. Statistic plays a vital role in every field of human activity. It is applied extensively in almost every field like, Industry, Commerce, Trade, Physics, Chemistry, Economics, Biology, Botany, and Psychology.

3. Statistics is a branch of Applied Mathematics. The large number of statistical methods like average, dispersions, estimation, etc. is used in mathematics. Different techniques of pure mathematics like integration, differentiation, and algebra are used in statistics.

4. Economics Business Banking Accounting Management and Administration

5. Collection of Data The collection of data considers the nature of the problem, the type of data collection, the number of respondents, time and cost.

6. Interview method

7. Questionnaire method

8. Registration method

9. Observation method

10. Experimental method

11. Stages / Types of Statistics 1.) Descriptive Statistics 2.) Inferential Statistics

12. Descriptive Statistics It is the stage of statistics that describes and investigates a given group without drawing any conclusions or inferences about a larger group. Below are sample questions that may be answered using descriptive statistics.   How many students are studying in your school? How many of them are males? How many of them are females? What are their ages?

13. Inferential Statistics It is an area of statistics that deals with the statistical method concerned with the investigation of a small group leading to the prediction, inferences, interpretation, or conclusion about the entire group.   How many students are studying in your school? How many of them are males? How many of them are females? What are their ages?

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16. Two Content Layout with Table First bullet point here Second bullet point here Third bullet point here Class Group A Group B Class 1 82 95 Class 2 76 88 Class 3 84 90

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