What Are The Concepts of Statistics

In college one of the courses I had to take was statistics. It was interesting to find out that we use statistics in our daily life, as well as our business life. I thoroughly enjoyed this class because it gave me valuable information to use in the real world, and daily life.

In reading the material you find that there are three reasons for understanding statistics.

The first reason is that data is everywhere in the world from home, companies, restaurants, and many other places as well. In your home you use statistics to test the water for a shower or to give a baby a bath. Within companies they use statistics to compile data for the upcoming week, budgets, sales, payroll, inventory, and many other things. In restaurants, they use statistics the same way that companies do when they project the sales for the upcoming shifts, day or week.  Restaurants also use statistical data to see how well the people like a certain meal that they serve. They also use statistical techniques to project how many people they would need to cover the shifts during the work week.

Secondly, statistics is used for the many decisions that we have to face in our life. Would you believe that everyone uses statistical techniques in their daily life. From groceries, bills, gas, clothes, and other means that you need in your daily life. Cooking for example uses statistical data so that the meals that you create come out tasting the way that they should. If the meal does not taste like it should somewhere along the line the recipe was messed up. You use statistics in every aspect of your life. Driving from point A to point B requires this much gas. How long would a tank of gas last you for the week depending on the size of your vehicle, miles per gallon of gas used, and how many stops you make in between point A and  point B.

Lastly, it does not matter what career you are in statistical data exists everywhere. You need this information to make informed decisions that will involve data  in many different ways. This will allow you to make decisions more effectively with using statistical techniques throughout your business. It is truly amazing the information you find out by using statistical techniques.

Did you know that statistics is all about numerical information and using it to find out different types of data is something that was interesting to me during college. Using statistics you can find out many different things such as the death’s related to alcoholism, the salary of college graduates, how many miles the average automobile drives per year, and the difference in the stock market or Dow Jones.

Further reading shows that you learn about statistics and what it means for the world around us. Statistics is used for collecting, analyzing, interpreting, organizing, and presenting data that will help in making more effective decisions in the world.

Did you know that the largest potato chip market is Frito-Lay. They make up more than 64 percent of the potato chip market by selling over 800 million pounds of potato chips around the world. This is amazing statistics to say the least and that is quite a few potato chips scattered around the world.

Statistics requires you to gather relevant information before making a decision about the result you have found. You have to keep your information about your statistical problems organized so that you can present it to people in a orderly fashion. Research is the main key to coming up with the right answer to any of the problems that you may face in the world today.

While learning about statistics I learned that there are different types of statistics that cover different parts of your research. In descriptive statistics you have to summarize, organize, and present your data in a very informative way so that the people that you are explaining it to understand how and where you received your information. Using descriptive statistics is not for the past however, we use them to project future statistics on a variety of things like population, college graduates, high school drop outs, single mothers, single fathers, and many other things as well.

Another type of statistics is inferential statistics which is used to estimate a property of the population based on a sample of the information. An example, would be finding out the percentage of high school students that could accurately total the cost of a meal on a restaurant menu. Best guess would probably be around 70 percent of high school students correctly totaled the amount of the meal from the restaurant menu by using inferential statistics.

About a year ago I received something in the mail from Nielsen and it was a survey to see what programs I watched during the day, night, and morning hours. It was interesting to say the least and they also paid you money for doing the survey. However, this is another way they use statistics to find out what percentage of the United States watches certain shows. In one of the examples in the book it showed that they used a population of around 800 prime time viewers, and around 40 percent of the viewers watched “CSI: Crime Scene Investigation” during that week. This type of statistical technique is used to set the advertising rates or to cancel shows that do not meet the standards. It was a long process for the week because you had to notate every show you watched, what time it was on, who watched the shows, and you could even comment on the show that you had watched.

Now, the difference between a population and a sample in statistics is that the population involves the whole population, sets of individuals, measurements or objects of interest obtained from all individuals within the group or population. A sample is only one part of the populations or interest. If we studied the whole population it would result in large expenditures that companies could not afford. By taking a sample and obtaining information from that sample would save the company some money to find the statistical data that they need to make an informed decision.

Go For Your Dreams


Go For Your Dreams

You know this writing challenge has turned out to be a wonderful experience in so many ways and we are just starting it!

In life you have to reach for the stars going after your dreams and making those dreams a reality. Some people feel like they do not have the talent, skills, knowledge or opportunity to accomplish those dreams. However, people do have the skills, knowledge, talent, and the opportunity to make their dreams come true. You have to be willing to make the sacrifices to obtain the career or life that you want. You cannot rely on the rest of the world to help you to accomplish your dreams, aspirations or the future of your career.

Having a career, family, time to yourself, and many other things in your life cannot stop you from achieving the goals and dreams that you have set out for your life. There are many things that people want out of their life like a home, a solid career, a loving family, a support team, and the feeling that they have accomplished something in their life.

These can be found if you search your heart and soul. You have to want something out of your life without having a crutch for the rest of your life. Sometimes these things in your life require taking risks that you normally would not take because of the outcome. However, by taking risks we find the things that we are capable of dealing with each and everyday of our life. Everything that we do in our life revolves around the risks that may be involved with those actions, thoughts, money, bank accounts, loans, and anything else that your life has.

Without the possibility of achieving the goals or dreams that we have set forth in our life we will not become the person we are supposed to be. You know I took a risk of going to college, and building up that debt that comes along with going to college in the hope that I would find a job within the field that I decided to go with. However, the economy lapsed which meant that the jobs in that field were no longer available. Furthermore, not giving up I still believe that I will achieve the goal of having the job that I desire.

You are a teacher to your children the most important people in your life. They look to you to provide them with the inspiration to go for their dreams no matter the risk. I have faith that one day my dreams will come true. For the most part my family has received everything that they could ever want out of life at the moment. I was always told that good things come to those who wait. I stand by this because it has proven to be true.