Statistics

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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 is the purpose of statistics?

    Q: What is the purpose of statistics?

    A: The purpose of statistics is to allow sets of data to be compared so that analysts can look for meaningful trends and changes. Analysts review the data so that they can reach conclusions regarding its meaning. Statistics allow people to see how things are or are not correlated and how a change in one variable might affect another.
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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 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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  • 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 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 are some real-world examples of direct variations?

    Q: What are some real-world examples of direct variations?

    A: Direct variation exists when a worker is paid based on the number of hours worked. Another example of a direct variation is a taxi fare that varies according to the distance traveled. Direct variation occurs with two variables when the ratio of their values always remains the same. For example, if the value of A is always twice as much as B, they vary directly.
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  • What are the odds of getting hit by a car?

    Q: What are the odds of getting hit by a car?

    A: Based on information provided by the Centers for Disease Control, the odds of being struck by a car in the United States is about one in 4,292. The odds of dying as the result of being struck by a car are about one in 47,273.
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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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  • How big is a cereal box?

    Q: How big is a cereal box?

    A: Cereal box size depends on the cereal brand and the volume size. For example, a box that is 12 inches long, 7 5/8 inches wide and 2 1/2 inches deep is required to hold 12.8 ounces of Multi Grain Cheerios.
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  • What is a criterion variable?

    Q: What is a criterion variable?

    A: According to the University of Connecticut, the criterion variable is the dependent variable, or Y hat, in a regression analysis. The criterion variable is the variable that the analysis predicts. The number given from the analysis fits into the regression line.
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  • What is the importance of statistics in people's daily lives?

    Q: What is the importance of statistics in people's daily lives?

    A: People use statistics daily for weather forecasts, predicting disease, preparing for emergencies, medical research, political campaigns, tracking sales, genetics, insurance, the stock market and quality testing. Statistics lends credibility to these industries and makes it easier to track different things in the industry.
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  • What does frequency mean in mathematics?

    Q: What does frequency mean in mathematics?

    A: In math, the frequency is the number of times a specific value appears in a data set or list. To find the frequency of these values, one constructs a frequency table and inputs all the different values from the set.
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  • How do you measure effectiveness and efficiency?

    Q: How do you measure effectiveness and efficiency?

    A: Effectiveness and efficiency are measured by how rapidly change is expressed in organizational systems and how great the difference is over time. This allows companies to compare workforce performance before and after a change is made. Effectiveness and efficiency look at return on investment, employee engagement, client satisfaction and positive gains versus negative side effects of an endeavor.
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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 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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  • How do you work out probability?

    Q: How do you work out probability?

    A: Theoretically, define the probability of a specific outcome of any event as the ratio of the number of outcomes that favor that specific outcome to the total number of possible outcomes of that event. Mathematically, define the probability of outcome "A" with this equation: P(A) = Number of outcomes that favor A / Number of every possible outcome.
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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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  • 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 does "marginal probability" mean?

    Q: What does "marginal probability" mean?

    A: Probabilities may be marginal, joint or conditional. A marginal probability is the probability of a single event happening. It is not conditional on any other event occurring.
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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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  • Why is sampling important?

    Q: Why is sampling important?

    A: Sampling, in statistics, is a method of answering questions that deal with large numbers of individuals by selecting a smaller subset of the population for study. One of the most prevalent types of sampling is random sampling.
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