Statistics is the collection of methods of obtaining data, planning experiments, and the summarising, analysing, drawing and presenting conclusions based on those data. Organisations apply statistical methods in all field that mainly involve decision making. This is crucial as it helps the firms to make accurate inferences through a collection of data and making decisions during times of uncertainty ( Fernández-Delgado, Cernadas, Barro, & Amorim 2014 ). Primarily, the use of computers had made the computation of large-scale statistical computation easy and also made it possible to for new methods that are manually impossible to perform possibly through the use of computers ( Clerkin, Hart, Rehg, Yu, & Smith 2017 ). Moreover, statistics remains an area of concern for active research, for instance, the problem of analysing big data.
The scale used is interval scale that mainly measures the numeric scale which gives the order and the exact difference between values. The interval scales are crucial as they provide statistical analysis on the data set . For instance, central tendency is measured through the mean, mode, median and standard deviation that can be calculated. Primarily, it is easy to remember as it involves the difference between two things.
Delegate your assignment to our experts and they will do the rest.
Two primary instances from which statistics id used include firstly; businesses uses graphs and charts to make decisions and analyse process. The charts and graphs to display the statistical data generated. Consequently, people in media use statistic to create frequencies and percentages that help in making special stories easy to understand ( Fernández-Delgado et al., 2014 ). Moreover, quality teams use statistics to inform managers of progress and develop products. Trough statistics it is easy for individuals and organisations to communicate and explain the meaning of the information ( Clerkin et al., 2017 ). Statistics forms part of everyday activities of people around the world, and it is important that people make practical use of it.
Clerkin, E. M., Hart, E., Rehg, J. M., Yu, C., & Smith, L. B. (2017). Real-world visual statistics and infants' first-learned object names. Phil. Trans. R. Soc. B , 372 (1711), 20160055.
Fernández-Delgado, M., Cernadas, E., Barro, S., & Amorim, D. (2014). Do we need hundreds of classifiers to solve real world classification problems. J. Mach. Learn. Res , 15 (1), 3133-3181.