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  • Statistics Show
    284 words
    Matt Ulrich 11/7/01 Page Summary on the Importance of Simple Statistics and its' Every Day Use Statistics are included in our every day routine weather we like it or not, from weather "guesses" on the radio and news to who will be most likely to win the Super Bowl. However, what I will explain is how we can use statistics to benefit our future success and also show how we can better trust and understand these predictions of our future. Any sales, marketing, or industry driven business can tell y...
  • Reliability Of Statistical Data
    513 words
    Statistical Reasoning in Everyday Life This chapter taught me the importance of understanding statistical data and how to evaluate it with common sense. Almost everyday we are subjected to statistical data in newspapers and on TV. My usual reaction was to accept those statistics as being valid. Which I think is a fair assessment for most people. However, reading this chapter opens my eyes to the fact that statistical data can be very misleading. It shows how data can be skewed to support a certa...
  • One Important Use Of Statistics
    2,066 words
    Introduction Statistics are used everyday in life, and are very important in the everyday world. One important use of statistics is to summarize a collection of data in a clear and understandable way. For example, if a psychologist gave a personality test measuring shyness to all 2500 students attending a small college, How might these measurements be summarized There are two basic methods: numerical and graphical. Using the numerical approach one might compute statistics such as mean and standa...
  • Surveys And Statistical Studies
    4,208 words
    The most common form of evidence is statistics. Statistics are a favorite evidence of many writers and speakers. They provide actual numbers in support of ideas and conclusions. If you can show that 75% of high schools seniors cannot find Washington State on a map of North America, then it is strong evidence for your contention that high school seniors are not being taught the geography of the United States. Such evidence is not only difficult to refute, it's often accepted as the final word in ...
  • Forecasters Use Probability And Statistics
    531 words
    The Collier Encyclopedia's definition for probability is the concern for events that are not certain and the reasonableness of one expectation over another. These expectations are usually based on some facts about past events or what is known as statistics. Collier describes statistics to be the science of the classification and manipulation of data in order to draw inferences. Inferences here can be read to mean expectations, leading to the conclusion that the two go hand in hand in accomplishi...
  • Statistical Concepts On A Daily Basis
    427 words
    Statistical concepts are used in various aspects on industry. The following highlights the use of statistics in these industries: Accounting / Auditing, Insurance, and Medical (Pharmaceutical). In the accounting / auditing field, it is imperative that the auditor makes an effort to determine that financial statements are stated accurately and free of material error (appear to be stated accurately). To accomplish this task, auditors utilize test methods that include statistical sampling of accoun...

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