Statistics Homework Help
Statistics play a vital role in each and every human activity. It helps in determining per capita income, unemployment, birth, and death rate, population growth and may more. NOW, Statistics plays a vital role in every field of study. Here we will discuss some important fields in which statistics is applied:-
- BUSINESS- A businessman can make the correct decision about marketing strategies, Location of business etc through statistics. He must know about what to produce and how to sell and in what quantity, statistics helps a businessman to plan production according to taste of customer.
- ECONOMICS – The relationship between supply and demand, import export, inflation rate and per capita income which are problems can only be studied through statistics.
- BANKING: Bank use the statistics to determine the number of depositors and their claim for a certain day.
- ACCOUNTING AND AUDITING: Accounting is not possible without exactness. But for the decision making purpose so much exactness is not essential it can be taken on approximation, called as statistics.
- STATE MANAGEMENT- statistics is important for the economy. It is highly essential for the country. Different government policies are based on the statistic. All the administrative decisions are taken with the help of statistics.
Statistics have caused some students failing to finish their degree. For the pupil, statistics is quite bad at first look. They tend to ignore the subject and as a result, they form a phobia for the subject. Lack of practice and lack of concentration is also the factor that pupil fail to understand the concept of statistics. Pupils avoid participating in the teaching-learning process which ultimately leads to low score in this particular subject. Often open insult by teacher brings down the moral of the pupil. Discontinuity in concept learning is the major factor that students face problem while dealing with statistics.
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