Scatter Diagram Each week, you will give examples of how you've used statistics in your daily life for the week. The examples should be different from the previous week. Give two examples of how you

Importance of Statistics in Life

Jennifer Bacuylima

St. Thomas University

Importance of Statistics in Life

Statistics is a significant part of a person’s daily routine since it offers ways to make decisions based on numbers. It assists in analyzing patterns, estimating the probabilities of certain occurrences, and assessing the consequences in question (Wild et al., 2018). Whether being used for insignificant decisions of an individual or large-scale research and analysis of society, statistics make it easier for a person or an organization to understand large sets of data and come to a reasonable conclusion.

An example of the application of statistics to daily life situations is the financial independence of an individual. Consumers also categorize their expenses to plan, set up budgets and set savings goals. Using algebraic computation of averages, variances, or percentages of check statements or monthly bills, the individuals can determine parts where or more expenditures are being made and devise impromptu strategies to minimize these unnecessary expenditures. For instance, where the expenses on food and other groceries cost a lot of money every month, a person may analyze changes in spending for some time and determine their maximum amounts. Another example is in health and fitness tracking. Statistical feedback on physical activity, calorie intake, and overall health is accessible to many people through smart devices or mobile apps (Romeo et al., 2019). For example, a fitness tracker could determine the average steps taken on a daily basis or record heart rate trends during varied time periods. The statistics provided can enable individuals to create achievable fitness ambitions, follow their progress, and make modifications to their workout routines or nutrition based on their goals. Someone who recognizes a decrease in their daily step count might decide to walk more or enjoy more physical activities.

In both cases, statistics provide insights essential for making sound decisions and enable people to fine-tune their behaviour for improved results. A clear understanding of how statistics works and how it can be implemented in budgeting and weight loss helps to emphasize the subjective role of statistics in our everyday lives.

References

Romeo, A., Edney, S., Plotnikoff, R., Curtis, R., Ryan, J., Sanders, I., ... & Maher, C. (2019). Can smartphone apps increase physical activity? Systematic review and meta-analysis. Journal of medical Internet research, 21(3), e12053.

Wild, C. J., Utts, J. M., & Horton, N. J. (2018). What is statistics?. International handbook of research in statistics education, 5-36.