# Statistics

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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• #### 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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• #### 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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• #### 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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• #### 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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• #### 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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• #### 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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• #### 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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• #### 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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• #### 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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• #### 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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• #### Q:What does "average" mean in mathematics?

A: In mathematics, the “average” typically refers to the “mean value” of a set of numbers that is found by adding all the numbers in the set and then dividing this answer by how many numbers were in the set. However, there also are other types of averages in mathematics, such as the weighted average, mode and median.
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• #### 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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• #### 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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• #### 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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• #### Q:What is the role of statistics in research?

A: Statistics play an important role in research of almost any kind because they deal with easily-quantified data. When working in fields such as science or medicine, trials are needed, and experimental data has to be collected and analyzed. The study of statistics enables researchers to look at a large set of data and condense it into meaningful information.
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• #### 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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• #### Q:What are the disadvantages of simple random sampling?

A: Although simple random samplings are a common research method, they are expensive to use, extremely time consuming and difficult to organize. A simple random sampling requires a complete list of all members of the target population so that the sample is a real representation of the larger group. Each individual in the population has the same chance of becoming part of the sample. All possible combinations of the sample are equally likely to occur, as well.
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• #### 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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• #### 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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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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• #### 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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