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What Are The Main Functions Of Statistics?
Statistics is one such discipline whose implementation is required in almost every realm. Let’s have a look at the main functions of statistics:
- To highlight facts in tabular form: We represent the key aspects in their actual form by figures. It wouldn’t have been possible without a statistical study as the ideas would be indefinite and vague.
- Precision to the facts: Since the statistics are portrayed in a definite form, they go a long way in condensing the data into critical figures. So, statistical methods convey meaningful information in more ways than one.
- Comparisons: After the simplification, the data can be correlated and compared. The relationship between the two categories is best highlighted by mathematical quantities like coefficients or average.
- Forecasting: Statistics is also of great help when it comes to the prediction of a course of action. Devising future policies on the basis of estimates is accomplished with statistics.
- Policy-making: The regulatory bodies frame favourable policies with statistical data. With the insights from statistical data, the government forms policies about travelling, housing, food grains, etc.,
- To measure uncertainty: It’s true that the future is uncertain, but statistics help different authorities in all the realms of the world to make accurate estimations by scrutinizing the various data of the past. It decreases uncertainty by a significant margin.
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Sample Question And Solution Of Statistics Assignment Help UAE
STAT 103 Statistics For Management
To develop an understanding of how management assignment help information and decision-making are enhanced by the application of statistical methods. The assignment will help them learn a range of statistical techniques, develop numerical abilities and handle data to create information and knowledge.
Task 1: SPC implementation Overview
Use of statistical process control and appropriate techniques in application to operations
Task 2: Techniques of analysis of raw data
Differences between descriptive data and inferential data
- Descriptive data simplifies large amounts of data in a sensible way
- It describes the basic feature of the data in a study.
- Descriptive data analysis generates simple graphics analysis.
- The “Univariate analysis” of the data indicates the distribution, central tendency and dispersion.
- Descriptive or summary statistics enables to represent the data in a meaningful way.
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