To understand statistics in a better way take online statistics help. See how different areas of statistics apply to real world problems from fantasy baseball to election polling. Statistics involves making decisions, and in the business world, you often have to make a quick decision then and there. Here is a detailed study guide on MBA in Data Analytics! Using statistics, you can plan the production according to what the customer likes and wants, and you can check the quality of the products far more efficiently with statistical methods. We use it most of the time, usually without thinking of it. To determine the total T-score distribution, we need know the number of pupils, the average of total T-scores and the standard deviation std. The grocery store is a good source of ratios in real life. We don’t perform actual probability problems in our daily life but use subjective probability to determine the course of action or any judgment. (4) Statistics helps in presenting complex data in a suitable tabular, diagrammatic and graphic form for easy and clear comprehension of the data. Probability has something to do with a chance. Application of Statistics in Psychology. Have you ever heard the forecaster talk about weather models? For example, if a 10-ounce box of cereal costs \$3 and a 20-ounce box of cereal costs \$5, the 20 ounce box is the better value because each ounce of cereal is cheaper. 2013 PSLE T-Score Simulation of 43047 Pupils . Forensic statistics is the application of probability models and statistical techniques to scientific evidence, such as DNA evidence, and the law. (2) Statistics helps in the proper and efficient planning of a statistical inquiry in any field of study. The Statistics of Everyday Life In This Chapter Encountering statistics in everyday life: what you see and how often you see it Discovering how statistics are used in the workplace T oday’s society is completely taken over by numbers. Applications of statistics in daily life Statistics is the collection of data and its representation or interpretation. It is the study of things that might happen or might not. (3) Statistics helps in collecting appropriate quantitative data. You can find statistics just about anywhere. In contrast to "everyday" statistics, to not engender bias or unduly draw conclusions, forensic statisticians report likelihoods as likelihood ratios (LR). While looking at the prices of various groceries, you can easily illustrate ratios using two different boxes of cereal. Statistics use three means of compariso… Slideshare uses cookies to improve functionality and performance, and to provide you with relevant advertising. There are som e of the examples to explain the role of statistic in real life. 1. -- Created using PowToon -- Free sign up at http://www.powtoon.com/youtube/ -- Create animated videos and animated presentations for free. How do you use that information? Numbers appear everywhere you look, from billboards telling of … Psychology is the study of the brain and is a blend of both the science and medical field, Statistics can be used to study human behaviour and prediction of thoughts and actions that may take place in future. 1) Medical Study Weather Forecasts Do you watch the weather forecast sometime during the day? Applications of Statistics.