Depending on the individual applications, most businesses are using statistical models to measure and identify the risk of the insurances. Therefore, statistical figures help the people know which is the most relevant and effective health insurance could be and which is the best company for them. Companies make various products daily, and there is always a priority to sell excellent quality items.
For such things, the company relies on the statistical data that is collected from the surveys. Now we have gone through the importance of statistics in our daily life. Statistics is playing a crucial role in making our lives better. It might be clear now the why statistics is important.
The majority of students think that why statistics is important? I might get a solid answer with this blog post. At last, I would also like to say that statistics is not an easy subject to crack.
But if they find some difficulty, then they can take the help with statistics assignment from our experts. We all know that statistics refers to the presentation analysis, collection, and interpretation of data or massive information. Statistics is considered very important in education because it allows for collecting, analyzing, and interpreting the data. Moreover, it also allows drawing a general conclusion.
The major jobs in statistics are: Financial analyst. Software engineer. Business analyst. Database administrator. Market researcher. Cost estimator. There are two main branches of statistics, and these are inferential and descriptive statistics.
Both of them are applied to the scientific analysis of massive data. Both of these have their own importance to learn and use. Table of Contents. What is the importance of statistics in students? What jobs use statistics? What are the fields of statistics? In daily life, we make various predictions; for instance, we set the alarm to wake up in the morning when we think that we can not wake up in the early morning.
Here, we use the statistical predictions as we find that the number of times a person is unable to wake up in the morning. By analyzing the data, we come to a decision that we need to set up an alarm to get up in the early morning. During the elections, various news reporters make predictions about which party has maximum chances of winning the elections.
This prediction is made on the basis of political campaigns. With the help of campaign statistics, news reporters are able to predict the result of the elections. The statistics are based on the previous and current scenario of the election. Visualizing statistics and data collection to seek out flaws. Data is rarely squeaky clean and more often than not, data is messy, ugly and incomplete: Such is the nature of sampling data, there are answers people do not answer completely, truly, or circumstances beyond our control that prevent us to collect all the data points we desire: e.
Truth of the matter is there is no way to collect ALL data points — this is where inferential statistics saves the day. Beyond those limitations, at the very minimum there is human error in data sampling or collection and with every tool, a measure of uncertainty.
Errors can also arise due to uncontrollable circumstances as aforementioned, or due to a limitation of a statistical test. These errors can be accounted for to some degree in statistical models and tests so that we can cut through all the noise and assess our hypotheses honestly.
Using statistics can help us map out those outliers , identify the levels of uncertainty in our results, and help us deal fairly with those errors. No statistical test is perfect and neither is any dataset. Statistics allows us to draw conclusions openly by realizing these limitations from the start. Table Credits: Jtneill. Having utilized the appropriate statistical test, fair and objective conclusions, implications, can now be interpreted from the dataset.
Statistical tests provide us with the means to interpret the dataset accurately so that we can make unbiased decisions on how to proceed knowing what the data is saying. It also guides the way we communicate our results and calls for us to defend why these statistical tests were chosen and how we arrived at our explanations based on a series of numbers. Statistics are also a great way of communicating and condensing large datasets into digestible, bitesize pieces of information easily understood by the masses.
These summary statistics are helpful in providing people with an immediate idea of the big picture and whether your conclusions are valid. Without statistics we would be unable to tease apart the multitude of effects that may be influencing our dependent variable.
Furthermore we would not be able to identify which factors are working in conjunction to produce a compounded effect on our dependent variable. Statistical modelling helps us deal with our multivariate statistical questions so that we can assess hypotheses from every possible angle.
So for example, how do we know that domestic violence in neighbourhoods of various levels of income are not also affected by ethnicity, religion, and level of education? Some of the factors may be intertwined and using statistics helps us tease apart these details. Using statistics in scientific research and development. Slide Credits: Varuna Harshana. Even using the wrong statistical test can lead to serious erroneous conclusions and overlook the data completely. Having a solid understanding of statistical methods can help you excel in almost all other classes.
Whether you are taking social psychology or human sexuality, you will be spending a great deal of time learning about research. Your foundation of statistical knowledge will allow you to make better sense of the research you'll find described in your other psychology courses.
Secondly, think about all the claims about psychology that you encounter on a daily basis outside of class. Magazines publish stories about the latest scientific findings, self-help books make proclamations about different ways to approach problems, and news reports interpret or misinterpret psychology research.
By understanding the research process, including the kinds of statistical analyses that are used, you will be able to become a wise consumer of psychology information and make better judgments of the information you come across.
By understanding statistics, you can make better decisions about your health and well-being. Many prospective psychology students assume that their chosen major will require very little math. After all, psychology is the science of the mind and behavior, so what does math have to do with it? Quite a bit, actually.
Math classes, and statistics in particular, are an important part of any psychology program. You will need to take math classes that fulfill your school's general education requirements as well as additional statistics requirements to fulfill your psychology program's core requirements. In most cases, you will have to take at least two math classes, but in other cases, it might end up being between three and five.
Check your school's graduation requirements as well as your psychology program's core requirements for more information. Knowing why statistics are important might not help with that sense of dread you feel before stepping into your first stats course. But even if you don't consider yourself "good at math," you can still succeed in your stats classes. You might have to put in some extra effort, but help is available. Start with your instructor. They might be able to recommend books, online tools, and on-campus resources.
Many colleges and universities offer a math lab where students can go to receive extra help and tutoring with any type of math course, including statistics. Consider joining or forming a study group with classmates, too. Ever wonder what your personality type means? Sign up to find out more in our Healthy Mind newsletter. The prevalence of marginally significant results in psychology over time. Psychol Sci. Schafer MS.
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