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# Why are statistics important in everyday life?

Statistics help people make informed decisions all the time. For example, statistical evidence of the dangers of smoking causes people to quit, saving lives. Statistics are important in many fields that impact modern daily life, such as product safety within manufacturing and reliability engineering for electronics.

Continue ReadingQuality assurance processes heavily rely on statistics. It is often impossible to fully test all items that roll off a production line, so quality assurance staff check a statistically significant sample of products to ensure safety and quality standards are met. Without this process, there is less assurance that common goods or appliances, such as laptop chargers, are safe to use. More generally, statistical analysis enables reliability engineers to ensure the functionality of systems that people depend on every day, especially within the telecommunications and electronics industries.

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## 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 ... Full Answer >Filed Under: -
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## How can you predict outcomes?

A: Outcomes can be predicted mathematically using statistics or probability. To determine the probability of an event occurring, take the number of the desire... Full Answer >Filed Under: -
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## What is a percentile in statistics?

A: A term used in statistics, a percentile is a data point below which a given percentage of observations in a group falls. For example, a 20th-percentile lab... Full Answer >Filed Under: -
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## What is a response variable?

A: In statistics, a response variable is the quantity that is being studied based on a number of factors, which are measured as explanatory variables. This is... Full Answer >Filed Under: