23E midterm: What Are Applications of Statistics
Document Summary
Statistics is often seen as the domain of big business, especially in the age of the internet, big data, and machine learning algorithms. Statistics helps us gauge uncertainty and make plans when given incomplete information by collecting a sample of information and deriving further information from that data. The application of statistics is done on large scales with massive budgets and strict adherence to the scientific method and can be found across all industries, government organizations, and academia. Education administrators, governmental offices and officials, business leaders and marketing departments, and scientific researchers all use statistical methods and processes during their work. But it can also be applied to the real world and day-to-day activities of people going about their daily lives, too. Every day, people are confronted with incomplete information and try to figure things out based on that information.
