# Importance of statistics essay

*label*Mathematics

*timer*Asked: Feb 23rd, 2019

*account_balance_wallet*$40

### Question Description

*Why We Should Learn Statistics (Essay, 14 points)*

Do you know what Mark Twain said about statistics?

In his autobiography he once wrote: "There are three kinds of lies: lies, damned lies and statistics."

On two-three pages , write an essay (double spaced) that explains the important role statistics plays in driving modern world. How does statistics help managers assess the credibility and usefulness of information? How can it help them make decisions that lead to the most optimal outcomes? Please address these questions in your essay.

You are encouraged to be as creative as possible; for example, you may use well-known quotes, that are contrary to the Twain quote above, to support your points. Humorous references are welcome, as well. Just be sure to include all of your references used at the end of your essay.

You will submit the essay on Canvas. It should be typed on 8½ x 11 paper. No late submission will be accepted. The assignment is open book and notes and requires individual effort.

A works cited page in the end of essay is required.

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IMPORTANCE OF STATISTICS

Introduction

Statistics is a mathematical science that deals with collection, organization, analysis,

presentation, and interpretation of data. Statistics is used in almost every field of human life be it

in science, industries, banking and even on our day to day social problems (Olhede, 47). In

science, statistics has a wide range of applications from testing the independent and random

variable in an experiment to testing the effectiveness of treatment of plants using statistical

designs such as PBIB and BIB designs. Karl Pearson puts it best by saying ‘statistics is the

grammar of science’ (Htoon, 217).

Role of statistics in the modern world

We live in an information world, and most of the information we get needs to be

determined mathematically. Statistics is used in the determination of these mathematical

equations. For example, computer models used in weather forecasting are built on statistical

concepts. They work on the premise that is comparing prior weather to current weather; they can

predict future weather conditions. Also, researchers, as well as meteorologis...

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