Question

Statistics is useful in all fields of studies including business, sports, healthcare, and criminal justice. Discuss how statistics is related to your field of study. What question would you be interested in answering? What data would you collect and how would you collect the data to help answer this question? What statistics do you want to find, such as mean, median, variance? What conclusions can be drawn based on the results? Comment on the examples of your classmates. How may their examples appear in your life?

Answer 1

Explanation:

Example 1. Day a day life.

Question: Does Mary spend too much time in the shower?

Data: Mary will write down on a paper the time she spends in the shower each day of the month. Becky, Rose, Jane, Anna and Sally will do the same.

At the end of the month they will compare each others data.

Statistics: Mary will find the mean of the data she wrote down. Becky, Rose, Jane, Anna and Sally will find the mean of their data too.

Conclusions: If Mary's mean is higher than each of the girls mean, then Mary spends too much time in the shower.

Example 2. Insurance

Life insurance companies use statistics to find the price of life inurance policies.

The cost of the policy depends on the age of the person(probability of death) and the insured sum.

To find the probabilty of death they use a life table. It shows, for each age, what the probability is that a person of that age will die before his or her next birthday. This table varys for each country.

Question. What is the probability of dying for a 25 year old american man?

Data.

A group of 1 million of 25 year old american men was selected last year.

This year only 992000 are alive, i.e. 8000 men died.

Statistics.

Probability of death= 8000/1000000=0.008

Conclusions: At 25 years old the probability of dying is low. An insurance policy should not be so expensive.