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In early 1987, the US Food and Drug Administration (FDA) was faced a
unprecedented situation. Thousands of people were dying of acquired
immunodeficiency syndrome (AIDS).
Not only was there no known, but there was not even a drug available to
slow the developmental of the disease.
Early clinical trials of an experimental antiviral drug known then as
azidothymidine (AZT) were promising
Only 1 of 145 AIDS patients on AZT had died compared to 19 of 137
patients in a control groups given a placebo.
There were medical questions remaining to be answered. What was the
optimal dose? For how long would the drug continue to thwart the virus?
There was also an important statistical question, one that had to be
answered before the medical and ethical questions could be addressed.
Was the fewer number of deaths among AIDS patients using AZT the result
of the drug, or was it due just to chance?
Statistical test showed that the differences between the two groups were
so great that the probability of their having occurred by chance was less
than one in a thousand (Fischl et al., 1987).
Armed with these statistics, the FDA gave final approval of the use of AZT in
March of 1987, after only 21 months of testing.
What is Statistics?
A set of mathematical procedure for organizing, summarizing, and
interpreting information (Gravetter, 2004)
A branch of mathematics which specializes in enumeration data and their
relation to metric data (Guilford, 1978)
Any numerical summary measure based on data from a sample; contrasts
with a parameter which is based on data from a population (Fortune,
1999).
Two General Purposes of Statistics
1. Statistic are used to organize and summarize the information so that the
researcher can see what happened in the research study and can communicate
the result to others
2. Statistics help the researcher to answer the general question that initiated the
research by determining exactly what conclusions are justified base on the result
that were obtained
Descriptive Statics
The purpose of descriptive statistics is to organize and to summarize observations
so that they are easier to comprehend.
Inferential Statistics
The purpose of inferential statistics is to draw an inference about condition that
exist in the population (the complete set of observation) from study of a sample
(a subset) drawn from population
7. The program helps teach students the crucial skills they need to
thrive in an increasingly data-driven world.
Research from the Bureau of Labor Statistics shows that the number of jobs
related to statistics is expected to increase by more than 30% between 2014 and
2024.
(1) Business
Statistics plays an important role in business. A successful businessman must be
very quick and accurate in decision making. He knows what his customers want;
he should therefore know what to produce and sell and in what quantities.
Statistics helps businessmen to plan production according to the taste of the
customers, and the quality of the products can also be checked more efficiently
by using statistical methods. Thus, it can be seen that all business activities are
based on statistical information. Businessmen can make correct decisions about
the location of business, marketing of the products, financial resources, etc.
(2) Economics
Economics largely depends upon statistics. National income accounts are
multipurpose indicators for economists and administrators, and statistical
methods are used to prepare these accounts. In economics research, statistical
methods are used to collect and analyze the data and test hypotheses. The
relationship between supply and demand is studied by statistical methods;
imports and exports, inflation rates, and per capita income are problems which
require a good knowledge of statistics.
(3) Mathematics
Statistics plays a central role in almost all natural and social sciences. The
methods used in natural sciences are the most reliable but conclusions drawn
from them are only probable because they are based on incomplete evidence.
Statistics helps in describing these measurements more precisely. Statistics is a
branch of applied mathematics. A large number of statistical methods like
probability averages, dispersions, estimation, etc., is used in mathematics, and
different techniques of pure mathematics like integration, differentiation and
algebra are used in statistics.
(4) Banking
Statistics plays an important role in banking. Banks make use of statistics for a
number of purposes. They work on the principle that everyone who deposits their
money with the banks does not withdraw it at the same time. The bank earns
profits out of these deposits by lending it to others on interest. Bankers use
statistical approaches based on probability to estimate the number of deposits
and their claims for a certain day.
(8) Astronomy
Astronomy is one of the oldest branches of statistical study; it deals with the
measurement of distance, and sizes, masses and densities of heavenly bodies by
means of observations. During these measurements errors are unavoidable, so
the most probable measurements are found by using statistical methods.
Example: This distance of the moon from the earth is measured. Since history,
astronomers have been using statistical methods like method of least squares to
find the movements of stars.