Saturday, 14 April 2012

Maths Individual reflection

The performance task that we did taught me the importance of statistics,in real life,statistics helps us to calculate and analyze the stock market exchange accurately and reliability.The task that we did in real life would help us to control flow of the queue of taking a taxi,if example there is a shortage in taxi in a particular area,the task we did could help the taxi company to assign more taxi to that particular area.

Overall in real life statistics is all around us,in weather forecasts,stock market,accounts and etc.Statistics is important to jobs like accountant as to learn if the company is losing money or earning,they would have to use statistic to analyze their earning power and increase product advertisement if needed.

To sum it up, to me statistics is important as Statistics tell us how often something happens. In large amounts of data, it is sometimes too time consumng to count every answer, so a portion of the data is used to represent the whole. This portion, called a subset is analyzed and calculations may be done to determine what the likely outcome of the whole dataset will be. An example is how fast election results can be 'projected' on television. It actually takes days to count all the votes in a national election, but statistics allows us to reach an answer quickly