Qnt 273

Introduction to Statistics Paper

Melissa Krol

QNT 273

May 2, 2011

Terry Dunning

Introduction to Statistics Paper

We encounter statistics almost on a daily basis. We see it on television, billboards, in newspapers and magazines, and even hear it on the radio (Bluman, 2009). We sometimes dismiss statistical data as irrelevant, but we do use it to make rational decisions in our lives. This paper will define statistics and how we use it in everyday living (University of Phoenix, 2010).

Statistics is defined as a system of gathering, classifying, and evaluating data to gain useful information on any subject (Dictionary.com, 2011). We as individuals gather, classify, and evaluate data on an everyday basis. We use this data to determine what to buy, what car to take on a vacation, and if we should go on a picnic over the weekend.

We use statistics without realizing it. For instance, when grocery shopping we buy the products that give us the most for our money we figure this by comparing prices and how much we receive for that price. Take a bag of flower for example, there are three different brands on the shelf and comparatively their prices are pretty close, but when you break down what the cost is per ounce there may be a much bigger difference in price. This larger difference in price leads you to purchase the bag of flower that costs less per ounce. In this example the data gathered would be the price per ounce for the three different brands of flower, and we evaluate that data by comparing the differences in prices (Bluman, 2009).

We do the same for large purchases, such as automobiles. The data we collect would be how many miles per gallon each car gets as well as the price. We would also list the different options that are standard on each vehicle and then evaluate all this information and make a decision on what gives us what we want or the most for the best possible price (Bluman, 2009).

We may also use...