SCOPE, IMPORTANCE & USES OF STATISTICS

SCOPE, IMPORTANCE & USES OF STATISTICS

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  SCOPE, IMPORTANCE &USES OF STATISTICS yousaf rafique Yousaf1438@gmail.com Written by: Muhammad Yousaf
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  Importance, Scope &uses of Statistics Importance Statistics plays a vital role in every field of human activity. Statistics helps in determining the existing position of per capita income, unemployment, population growth rates, housing, schooling medical facilities, etc., in a country.  It helps in summarizing the larger sets of data in a form that is easily understandable and play a role in the efficient design of laboratory and field experiments as well as surveys.  Statistical techniques act as powerful tools for analyzing numerical data, used in genetics, agronomy, anthropometry, astronomy, physics, geology etc.  Statistics play a role in business, economics, mathematics, banking, state management, accounting and auditing, natural and social sciences and astronomy.  Statistics is useful subject in many areas such as business, economics, engineering, health, accounting and social as well as natural, so statistics is applied in every human activity.  Statistics tells us any trends in what happened in the past and can be useful in predicting what may happen in future. Scope  Statistics and planning: Statistics in indispensable into planning in the modern age which is termed as “the age of planning”. Almost all over the world the governments are re-storing to planning for economic development.  Statistics and economics: Statistical data and techniques of statistical analysis have to immensely useful involving economical problem. Such as wages, price, time series analysis, demand analysis.  Statistics and business: Statistics is an irresponsible tool of production control. Business executive are relying more and more on statistical techniques for studying the much and desire of the valued customers.  Statistics and industry: In industry statistics is widely used inequality control. In production engineering to find out whether the product is confirming to the specifications or not. Statistical tools, such as inspection plan, control chart etc.  Statistics and mathematics: Statistics are intimately related recent advancements in statistical technique are the outcome of wide applications of mathematics.  Statistics and modern science: In medical science the statistical tools for collection, presentation and analysis of observed facts relating to causes and incidence of dieses and the result of application various drugs and medicine are of great importance.  Statistics, psychology and education: In education and physiology statistics has found wide application such as, determining or to determine the reliability and validity to a test, factor analysis etc.
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  Uses of Statistics Statistics is widely employed in government, business and natural and social sciences.  Statistical methods are applied in al fields that involve decision making, for making accurate inferences from a collated body of data and for making decisions in the face of uncertainty based on statistical methodology.  The use of modern computers has expedited large scale statistical computations, and also made possible new methods that are impractical to perform manually.  Statistics continues to be an area of active research, for example on the problem of how to analyze big data.  In marketing, statistical methods help in forecasting sales, market share and demand for various types of industrial products.  Statistics helps in understanding the nature and pattern of variability of a phenomenon through quantitative observations.  Statistics helps in presenting complex data in a suitable tabular, diagrammaticand graphic form for easy and clear comprehension of the data.