Top 10 Uses Of Statistics In Our Day to Day Life

1. STAT ANALYTICA PRESENTS Top 10 Uses Of Statistics In Our Day to Day Life www.statanalytica.com

2. POINTS OF DISCUSSION Overview 1. Predictions 2. Quality testing 3. Weather Forecasts 4. Emergency Preparedness 5. Predicting Disease 6. Political Campaigns 7. Insurance 8. Consumer Goods 9. Financial Market 10. Sports Career Scope of statistics of Statistics Conclusion Statanalytica

3. OVERVIEW Majority of students think that why they are studying statistics and what are the uses of statistics in our daily life. They also want to know the importance of statistics is our daily life.  Statistics is a set of equations that allows us to solve complex problems. These problems are usually based on facts and figures. Sir Ronald Aylmer Fisher, is known as the father of modern science of statistics. Statanalytica

4. 1. Predictions The figures help us make predictions about something that is going to happen in the future. Based on what we face in our daily lives, we make predictions. How accurate this prediction will depend on many factors. When we make a prediction, we take into account the external or internal factors that may affect our future. Stat Analytica

5. 2. Quality testing Quality testing is another important use of statistics in every area of life. On a day-to-day basis, we conduct quality tests to ensure that our purchase is correct and get the best results from what we spend. We do a sample test of what we expect to buy to get the best. If the sample test that we have done passes the quality test, we want to buy it. Stat Analyrica

6. 3. Weather Forecasts Have you ever seen weather forecasting? Do you know how the government does the weather forecasting? Statistics play a crucial role in weather forecasting. The computer use in weather forecasting is based on the set of statistics functions. All these statistics function to compare the weather condition with the pre-recorded seasons and conditions. Stat Analytica

7. 4. Emergency Preparedness Statistics is also helpful in emergency preparedness. With the help of statistics, we can predict any natural disaster that may happen shortly. It will help us to get prepared for an emergency. It also helps the rescue team to do the preparation to rescue the life of the people who are in danger. Stat Analytica

8. 5. Predicting Disease Statistics is even playing a role in the medical field. Statistics help us to know how many numbers of people are suffering from the disease. It also helps us to understand how many have died from the same disease. But the best part of statistics is that it also helps you to find out how much you affected from the deceased. Stat Analytica

9. 6. Political Campaigns • Statistics are crucial in a political campaign. Without statistics, no one can run a political campaign with perfection. It helps the politicians to have an idea about how many chances they have to win an election in a particular area. • Statistics also help the news channel to predict the winner of the election. Stat Analytica

10. 7. Insurance Insurance is a vast industry. There are hundreds of insurance i.e. car insurance, bike, life insurance, and many more. The premium of insurance is based on the statistics. Insurance companies use the statistics that are collected from various homeowners, drivers, vehicle registration office, and many more. They receive the data from all these resources and then decide the premium amount. Stat Analytica

11. 8. Consumer Goods Statistics are widely used in consumer goods products. The reason is consumer goods are daily used products. The business use statistics to calculate which consumer goods are available in the store or not. They also used stats to find out which store needs the consumer goods and when to ship the products. Even proper statistics decisions are helping the business to make massive revenue on consumer goods. Stat Analytica

12. 9. Financial Market The financial market completely relies on the financial market. All the stock prices calculate with the help of statistics. It also helps the investor to take the decision of investment in the particular stock. Stat Analytica

13. 10. Sports There is lots of uses of statistics in sports. Every sports require statistics to make the sport more effective. Statistics help the sport person to get the idea about his/her performance in the particular sports. Nowadays sports are utilizing the statistics data into the next level. The reason is a sport is getting more popular and there are various kinds of types of equipment in the sports that are used to collect data of various factor. Stat Analytica

14. Career Scope of statistics of Statistics • Mathematician. Using existing and newly-developed principles, mathematicians can develop statistical models to analyze data. • Market Research Analyst. • Atmospheric Scientist/Meteorologist. • Statistician. • Operations Research Analyst. • Financial Analyst. Stat Analytica

15. CONCLUSION Now you may be aware of the uses of statistics in our daily life. It is nourishing our everyday life and helping us to make effective decisions. If you are a statistics students and you need statistics assignment help or statistics homework help, then you can contact our experts for the help. They will help you out in clear your doubts regarding statistics. And help you to make the best statistics assignment. Stat Analytica

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