Thursday, 19 April 2012

Role of Statistics in Real Life Reflection

My Points of View: Statistics is used in surveys and experiments in real life. Economics, accounting, business, banking also require the use of statistics.

Purpose of Thinking: The goal is to draw a conclusion based on the response by gathering, classifying, tabulating, analysing and interpreting the data.

Question at Issue: The two main classified errors of statistics are random and systematic errors. Random errors are errors in measurement. There may be a mistakes in the gathering data, like wrongly counted responses. Systematic errors are biases in measurement. For example, when we use tools of measurement in our experiments, zero error may occur. Zero error is when the zero is not aligned with the start of your designated object to be measured.

Information: Without statistics, there is no record of data such as money earned, preferences and habits of customers and customers themselves are unknown in the world of business. There may also be an economic downturn due to the lack of essential data such as country and world population. Without these data, the government is unable to cater to the country's needs. For example, when there is a natural disaster, the government is unable to know how many shelters to build for the homeless.

Interpretation and Inference: For the questions in issue, averaging large numbers of readings can reduce random error. Systematic error cannot be reduce in this manner but can be eliminated if sources are known.

Concepts: The goal is to draw a conclusion based on the response by gathering, classifying, tabulating, analysing and interpreting the data. We tabulate the data in graphs and tables. The different forms of graphs and tables are pictograms, bar graphs, pie charts, line graphs, frequency tables, histograms, stem and leave diagrams and dot diagrams.

Assumptions: The art of statistics is also taken for granted. One such misuse is when the data is in favour of the presenter. The public may also lose trust in such studies when contradictory in the data of the presenter shows.

Implications and Complications: The role of statistics in real life is important. However, we must know how to gather, classify, tabulate, analyse and interpret data. At the same time, we must not false the data.

Done By: Matthea Koh (6) S1-07