Statistics

A:

Statistics is the study of numerical information, which is called data. People use statistics as tools to understand information. Learning to understand statistics helps a person react intelligently to statistical claims. Statistics are used in the fields of business, math, economics, accounting, banking, government, astronomy, and the natural and social sciences.

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  • What percentage of our lives are spent working?

    Q: What percentage of our lives are spent working?

    A: About one-third or 30 percent of human life is spent working. The average working week in the United States consists of 40 hours of work. Most people take a few holidays every year. On an average, most people spend about 25 to 30 years working.
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  • What is the difference between a parameter and a statistic?

    Q: What is the difference between a parameter and a statistic?

    A: A statistic describes a sample, while a parameter describes an entire population. A sample is a smaller subset that is representative of a larger population.
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  • How many cubic feet are in a 53-foot trailer?

    Q: How many cubic feet are in a 53-foot trailer?

    A: A typical 53-foot trailer that is 9 feet high and 8 feet wide contains 3,816 cubic feet of space. However, because of the irregular shape of many items being shipped, a trailer is often not filled completely. Air pockets are located in various locations throughout the trailer.
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  • What is the definition of "presentation of data"?

    Q: What is the definition of "presentation of data"?

    A: The presentation of data refers to how mathematicians and scientists summarize and present data related to scientific studies and research. In order to present their points, they use various techniques and tools to condense and summarize their findings. These tools include the use of tables, graphs and subsets to provide an overview of their calculations and the data they have mined.
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  • What is the difference between the dependent variable, the independent variable and the controlled variable?

    Q: What is the difference between the dependent variable, the independent variable and the controlled variable?

    A: The difference between the independent, dependent and control variables rests with the way each variable impacts research. The dependent variable is the item under observation, the independent variable receives manipulation by a researcher and the control variable is an aspect that affects the dependent variable if the researcher does not hold it constant, explains Nuffield Foundation. These variables form the basis of an experiment or observation.
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  • What are the advantages and disadvantages of using statistics?

    Q: What are the advantages and disadvantages of using statistics?

    A: Statistics allow people to analyze surveys, experiments and other data, but they are easy to misrepresent or to use to mislead others. Statistical data is essential to the scientific method. It also helps companies, governments and other entities make decisions.
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  • What are the advantages of probability sampling?

    Q: What are the advantages of probability sampling?

    A: Probability sampling offers the advantages of less biased results and a higher representation of the sample in question. It also allows for accurate statistical inferences to be made.
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  • How are statistics used in accounting?

    Q: How are statistics used in accounting?

    A: Accountants in various fields, including auditors, forensic accountants, controllers and risk accountants, use statistics to accomplish their professional duties. Accountants who conduct audits use samples that are statistically representative of a data base because it is almost impossible to collect all the data needed in a short period of time. Auditors typically use this method when conducting a reliability assessment to determine the accuracy of the data being audited.
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  • How many babies are born each year?

    Q: How many babies are born each year?

    A: According to UNICEF article updated in May 2012, about 130 million babies are born each year. CNN notes that an accurate count of the worldwide birth rate is difficult since many countries don't register all new births.
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  • What is qualitative data?

    Q: What is qualitative data?

    A: Qualitative data is data that can be observed but cannot be measured. This type of data is often in contrast to quantitative data, which is data that can be measured.
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  • What is a coin toss simulation?

    Q: What is a coin toss simulation?

    A: A coin toss simulation uses software to mimic the act of tossing a coin many times to demonstrate how frequency affects probability. With two possible outcomes (heads or tails), most observers assume even odds, or 50 percent, but tossing a coin only a few times may show uneven outcomes. By increasing the frequency of tosses, the result gets close to 50 percent, demonstrating how frequency affects outcomes.
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  • What is the outlier in a math problem?

    Q: What is the outlier in a math problem?

    A: In math, outliers are observations or data points that lie an abnormal distance away from all of the other values in a sample. Outliers are usually disregarded in statistics because they can skew calculations and cause the final statistical analyses to be invalid.
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  • What is a good statistical sample size?

    Q: What is a good statistical sample size?

    A: A good statistical sample size is at least 100, and preferably more, participants. With a 100-participant sample size, the researcher has a margin of error of approximately 10 percent with a 95 percent confidence rating in the results. For the researcher to increase his confidence rating and reduce his margin of error he has to increase the size of the sample.
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  • Who is the father of statistics?

    Q: Who is the father of statistics?

    A: Sir Ronald Aylmer Fisher, a British statistician, is considered by many to be the father of the modern science of statistics. The Danish statistician Anders Hald recognized him as a genius who built the foundations for modern statistical science, according to Wikipedia.
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  • What is biostatistics?

    Q: What is biostatistics?

    A: Biostatistics is a specialized area that applies statistical analysis to fields like biology, agriculture and medicine. Biostatisticians play a large role in scientific research studies, including designing study models and analyzing study results. Medical biostatistics narrows this field further to focus solely on medical and health issues.
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  • Why are statistics important?

    Q: Why are statistics important?

    A: Experts use statistics to understand large and complex sets of data. Statistics are also helpful with surveys, which legislators use to affect policy. Knowing how statistics work is important for fully understanding news reports.
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  • What is the importance of statistics in economics?

    Q: What is the importance of statistics in economics?

    A: Statistics are a methodology necessary in the field of statistics and are used to collect, analyze and evaluate data. Economics depends heavily on the use of statistics.
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  • What are the divorce rates for second and third marriages?

    Q: What are the divorce rates for second and third marriages?

    A: In the United States, the divorce rate for second marriages is estimated at between 60 and 67 percent. Third marriages fare considerably worse, with the divorce rate estimated between 73 and 74 percent.
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  • What is the importance of statistics in business?

    Q: What is the importance of statistics in business?

    A: Statistics are an important tool for running a business. Managers are required to make decisions based on data collected over time. This data is worthless unless it is analyzed and interpreted; statistics allows business managers to analyze the data and arrive at meaningful conclusions.
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  • How do you average your grades?

    Q: How do you average your grades?

    A: To calculate an average grade, first add up all the individual grades, then divide by the total number of grades. Letter grades or percentage grades can be converted to the 4.0 scale to find the grade point average, or GPA.
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  • What is median vs. mean?

    Q: What is median vs. mean?

    A: The median is the middle number when a set of numbers is arranged in order from smallest to largest, and the mean is the average of a set of numbers. Both these measurements are useful in performing statistical analyses of a number grouping and making projections about future results.
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