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This 3-page paper focuses on questions pertaining to general statistics. Bibliography lists 2 sources.
Page Count:
3 pages (~225 words per page)
File: AS43_MTquestati.doc
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that might come to mind is "boring figures." But statistics involves more than a bunch of figures - basically, statistics, by its very nature, involves mathematical analysis that involves the
process of analyzing and/or characterizing a particular data set, or group of numbers (Statistics, 2010). Statistics also helps make sense of certain data - in some cases, it helps extrapolate
that data from a sample to an entire population. In terms of how statistics might benefit an individual in a current or future
job, not knowing what particular job is under discussion, well provide a general answer here. Given statistics is used to characterize a particular data set, this is a tool thats
important to a variety of jobs, as it provides a method by which an individual can analyze a data set and come to certain conclusions. This involves any kind of
data set, from number of hours worked by a particular group of employees, to calculating how much is removed from a paycheck for taxes during a particular period of time.
Statistics can be used to budget as well. If, for example, an individual is trying to figure out where to cut back on certain expenses, he or she can determine
how much money is being dedicated to these expenses over a period of time, then decide, based on those figures, where to cut back.
Which measure of dispersion would one use to compare the variation in the rates of return for two mutual funds? Explain. Dispersion is a particular statistical measure,
typically those that are clustered around a particular statistical value, such as range, average deviation or variance. Dispersion tells us where, and how, data are grouped.
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