What are the important uses of Statistics?

To Present Facts in Definite Form: We can represent the things in their true form with the help of figures.

Precision to the Facts: The statistics are presented in a definite form so they also help in condensing the data into important figures.

Comparisons: After simplifying the data,it can be correlated as well as compared.

What are the disadvantages of Statistics?

Disadvantages of statistics. The main disadvantages of statistics are: • they are not an appropriate method to understand issues in great depth and identify ways to solve problems highlighted. • they are not suitable to evaluate user opinions, needs or satisfaction with services.

What are some interesting uses of Statistics?

(1) Statistics helps in providing a better understanding and accurate description of nature’s phenomena.

(2) Statistics helps in the proper and efficient planning of a statistical inquiry in any field of study.

(3) Statistics helps in collecting appropriate quantitative data.

What are the benefits of Statistics?

The main advantage of statistics is that information is presented in a way that is easy to analyze, which makes its conclusions easily accessible. Comparative statistical analysis allows people to identify the strengths and weaknesses of different strategies, programs, policies or products across multiple…

Why are statistics so important?

Statistics are important for many reasons. In no particular order – they provide a “benchmark” for researchers trying to figure out how often or how important something might be; they provide support for (or against) changing laws; when converted into tables and graphs or figures, a concept can be demonstrated visually.

What is the importance of Statistics in our daily life?

Weather Forecasts. Do you watch the weather forecast sometime during the day?

Emergency Preparedness. What happens if the forecast indicates that a hurricane is imminent or that tornadoes are likely to occur?

Predicting Disease.

Medical Studies.

Genetics.

Political Campaigns.

Insurance.

Consumer Goods.

Quality Testing.

Stock Market.

What is the importance of statistic in the real world?

Medical Study. Statistics are used behind all the medical study.

Weather Forecasts. Statistics are very important for observation,analysis and mathematical prediction models.

Quality Testing. A company makes thousands of products every day and make sure that they sold the best quality items.

Stock Market.

Consumer Goods.