Presentation

Name: Ayesha Arshad

Roll no: 19102018-005
Department: ADP (A/F)
Subject: Inferential statistics
Submitted to: Sir Ehtesham Ashraf
Why Study Statistics?
Statistical techniques are used to make decisions that affect our daily lives. The knowledge of
statistical methods will help you understand how decisions are made and give you a better
understanding of how they affect you. No matter what line of work you select, you will find
yourself faced with decisions where an understanding of data analysis is helpful.
What are two application of statistics in different fields specially in business?
Statistics plays a vital role in every field of human activity. Statistics helps in determining the
existing position of per capita income, unemployment, population growth rates, housing,
schooling medical facilities.
Business:
Statistics plays an important role in business. A successful businessman must be very quick and
accurate in decision making. 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.
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.
Applications of Statistics in Research?
Statistics forms an important part of most sciences, helping researchers test hypotheses, confirm
(or reject) theories, and arrive at reliable conclusions. Statistical analysis helps reduce or
eliminate errors so that researchers can confidently make conclusions that will then direct
further research.
What are the application of Statistics in International Development?
Many developing countries have weak statistical systems and mechanisms for measuring results.
Good, reliable statistics are essential for measuring progress in reaching development goals and
provide essential information about the effectiveness of policies and programmers. They help
governments improve their policies and to be transparent and accountable about the delivery of
development results. Reliable statistics are a key element towards better measurement,
monitoring and management of the results of development assistance.
Importance of Statistics in Daily life?
Every day we are bombarded with different types of data and claims. If you cannot distinguish
good from faulty reasoning, then you are vulnerable to manipulation and to decisions that are not
in your best interest. Statistics provides tools that you need in order to react intelligently to
information you hear or read. In this sense, statistics is one of the most important things that you
can study.
Quote:
“Statistical thinking will one day be as necessary for efficient citizenship as the ability to
read and write”