The Importance of Statistics and Geography for Development . It is an important branch of mathematics. 0000003301 00000 n The Importance of Historical Documents. First, statisticians are guides for learning from data and navigating common problems that can lead you to incorrect conclusions. The Importance of Statistics My ideal world: All educated citizens should be able to answer those and similar questions by the time they graduate from secondary school. endstream endobj 193 0 obj<> endobj 194 0 obj<> endobj 195 0 obj<>/ColorSpace<>/Font<>/ProcSet[/PDF/Text/ImageB/ImageC]/Properties<>/ExtGState<>>> endobj 196 0 obj<> endobj 197 0 obj<> endobj 198 0 obj[/ICCBased 212 0 R] endobj 199 0 obj<> endobj 200 0 obj<> endobj 201 0 obj<> endobj 202 0 obj<>stream %%EOF Government – Government takes help of statistics to make budgets, set minimum wages, estimate cost of living etc. A factory might want to simply count the number of widgets it makes. 0000000996 00000 n 0000025147 00000 n {:�z�f�KF‹�lrq,Z1���k5Dj5���9���Rݎ��4����۫���gJ�������!�a�>��~KD��i��f� �1����Fc8�(��T‰3*�ѣ�l ����#�3�[email protected],3�]��0�Xt5�Q��CB q/]b�W��ɰ%)BK�� Statistics can be used for making sales projections, financial analysis of capital expenditure projects, constructing profit projections for a new product, setting up production quantities, and making a sampling analysis to determine the quality of a product. Comparisons: After simplifying the data, it can be correlated as well as compared. 0000026794 00000 n Statistics can usually be expressed as a percentage, a ratio, an average, a median and even a raw number. %PDF-1.4 %���� How do we get there? Statistics is the discipline that concerns the collection, organization, analysis, interpretation and presentation of data. trailer in areas like safeguarding, cancer research, homelessness and loneliness) 5 . A critical divide in economics is the extent to which the government should intervene in the economy. Statistics is used in the fields of business, math, economics, accounting, banking, government, astronomy, and the natural and social sciences. �tY�O7�w;e�GU����W'/^��x]�c��vw:o�U):�d�P�N)�е1n>��Ԣ[G�Ӛ�#�W1�\o���7��� �Fr���,(�}��h�&�;��K����1R_�c>�܋z��u�e2�_K�M�ٖ�E�~8*t���ta=�\z`��$賳Z�c����6�F�UqXː�WPy�.�����e��x2�RJ ���ֹ�|����e�� C��"{�1$�m�H��6(�LA�-��K���O��K���p,�X��$�!�0`YN�ñ�"��q��a�$�,�d��F�`JL��5��'�HNuBfq8K��x�ǩZ�)s�Z�a��ژ,�$s� However, if you haven’t gotten to that point yet, here’s some information on statistics in the business field. 342 0 obj<>stream Some The importance of information in economic and political processes is widely recognised by modern theories. The role of statistics in business management is pivotal. 0000002774 00000 n 0000003265 00000 n 324 19 Though it doesn't seem to have such a high importance, statistics is part of so many things in people's lives. Requirements for relieving poverty and improving infrastructure are substantial: achieving the Millennium Development Goals, for instance, may require low-income countries to raise their tax-GDP ratios … As you can see, statisticians and statistical methods play an important role in scientific studies to seek knowledge and to improve our lives. This paper discusses the importance of statistics and statisticians in national development with emphasize that government at all levels should embark on … 0000008932 00000 n An agency in the Economics and Statistics Administration (U.S. Department of Commerce), STAT-USA's mission is to deliver vital economic, business, and international trade information produced by the U.S. Government to users for making important decisions that may affect their businesses, careers, communities, or personal finances. Banks make use of statistics for a number of … 0000003544 00000 n 0000001124 00000 n 8, No. Forum on “Statistics, Knowledge and Policy” to be held in Istanbul in June 2007. Free market economists, like Hayek and Friedman, argue for limited government intervention and free markets. Statistics is a data interpretation tool used for collecting, classifying and analyzing data. It is what helps us in predicting what might happen in the future and also to understand what has happened in the past. 0000004626 00000 n Business Statistics helps a business to: Deal with uncertainties by forecasting seasonal, cyclic and general economic fluctuations A factory might want to simply count the number of widgets it makes. In 2017/18, Finding data sources and effectively using statistics are of vital importance as national, state, and local public health departments are called upon to respond quickly to ever more pressing emergencies. Official statistics are statistics published by government agencies or other public bodies such as international organizations as a public good.They provide quantitative or qualitative information on all major areas of citizens' lives, such as economic and social development, living conditions, health, education, and the environment. 0000010298 00000 n Other economists, like Stiglitz or Krugman, argue government intervention can overcome inequality and the underprovision of public goods. 0000002521 00000 n Statistics are important to health care companies in measuring performance success or failure. 0000042855 00000 n 0 Today statistics is used in a wide range of areas. government should be included in a list of indicators of control. Despite all of the past and present It is an important branch of mathematics. 0000014362 00000 n The readiness and ability to make such ‚hard™ choices is very much a product of the ways the polity is institutionalized. For a mathematically talented person, the study of statistics offers a wide variety of professional opportunities which have an impact on the solution of important problems. Students require statistics … UNESCO Institute for Statistics Science, Technology and Innovation? rs/statistical-programs-2018.pdf. 0000003786 00000 n 0000005868 00000 n Statistics are the sets of mathematical equations that we used to analyze the things. (1981). Importance of Statistics to Industry and Business. Quality testing is another important use of statistics in every area of life. 0000005246 00000 n Reason # 4. 0000017910 00000 n Journal of Applied Statistics: Vol. 0000000689 00000 n In applying statistics to a scientific, industrial, or social problem, it is conventional to begin with a statistical population or a statistical model to be studied. Statistics in education is important because it enables the calculation and adequate summary of the results in a meaningful and convenient form: statistics gives order to the data. The importance of statistics in astronomy is seen in the various methods of research. 2, pp. 0000009759 00000 n Statistics plays an important role in banking. 324 0 obj <> endobj statistics textbook); (d) the social entity as a learning system (e.g., how a consulting team learned over time to improve service for clients); and (e) learning to be a social learner (e.g., how a client learned to frame questions to solicit information in a usable form from The Use of Statistics in Government Decision-Making With Particular Reference to the Reports of Royal Commissions. H��W�n7���>����%ok�1�/O�X�!�Dz��[R"$_����9���!p���U�S�F]��������Y���� �O�QWj�n4!���X\Rޚ1�N����Y�l'��_��`�hmV1�1�|p#D�i�n���C\~�Ϋ`�h)WI�q���]�)[���m��i;�\Jq��1�lsQ��a���Q��_�k>���Vg�Qmn�����~q)(c��r%�9�����ֻJ��>�. It keeps us informed about, what is happening in the world around us. The importance of statistics in government is utilized by making judgments about health, populations, education, and much more. How do we get there? Today, statistical methods are applied in most of the fields that involve decision making, for making accurate inferences from arranged data. For a mathematically talented person, the study of statistics offers a wide variety of professional opportunities which have an impact on the solution of important problems. Special educational needs and disability is an important Government priority. What's important is that the method used to calculate the statistic is uniform each time. A defining business trend in the Digital Age has been the growth in the volume and the use of quantitative data. 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