760 15% 10% 25% 20% 30% 45% 5% 50% Statistics We live in an increasingly data-driven society. Regardless of what profession you choose, it is likely that you will need an understanding of statistics to either read a report containing statistics or understand a graphical display of data. Businesses use statistics in a variety of ways including where to locate an office, marketing a product, and determining how many units of an item to produce in order to maximize profit. Economists use statistics when determining the inflation rate and determining per capita income. Statistics is used in the medical field when developing new treatments for diseases. Statistics is also used to help meteorologists predict weather patterns. Since many important decisions are made using data, it is crucial to have an understanding of how to collect, interpret, and analyze data. This chapter will help you see the valuable uses of statistics and also recognize when statistical information is being manipulated and misused. Why This Is Important Sections 12. 1 Sampling Techniques and Misuses of Statistics 12. 2 Frequency Distributions and Statistical Graphs 12. 3 Measures of Central Tendency and Position 12. 4 Measures of Dispersion 12. 5 The Normal Curve 12. 6 Linear Correlation and Regression b Numbers are the foundation of all statistical information. 12 Nuruddean/Shutterstock
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