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DEVIN L.

REVILLA

MPA 1-A

P. A. 202 – BASIC RESEARCH AND STATISTICS

Prof. Ma. Leah Cadena

October 20, 2018

Reflection Paper on Statistics

Statistics is a branch of science that deals with the numerical observation


of any kind. The ideology of statistics starts with the beginning man’s experience.
It evolves as years goes by thru the different individual who are really an expert
to this field especially in the field of mathematics. In the field of research,
statistics is viewed as the study which refers to the methods in collection,
presentation analysis and interpretation of data. This field has been divided into
two categories: the descriptive statistics and the inferential statistics.

Descriptive Statistics is concerned with the gathering, classification and


presentation of data and the collection of summarizing values to describe group
characteristics of data. On the other hand, inferential statistics refers to the
methods dealing with making inference, estimates or prediction about a large set
of data using the information gathered.

Basically, the importance of statistics can be drawn into various means.


Statistics can also be used in science that are evident for empirical studies.
Statistics aids in decision making, summarizes or describes data, helps to
forecast or predict future outcomes, aids in making inferences, and helps in
comparisons or establishing relationships. In the field of education, statistical
techniques and methods are used to get information on enrollment, finance,
physical facilities, drop-out rate, proficiency level and many others, in
researches, statistical role are used to test differences, effectiveness, impact,
relationship or independence of some variables.

It is also applicable in management, were they uses statistics in decision


making and varied aspects such as organizational behavior, labor relations,
human resource allocation, performance assessment and evaluation of for the
improvement of personal relations. In economics, it determines trends, helps
financial analysts make investment decision s and determines the potential of
an investment including inventory turnover ratio of cash flow to total assets, the
quick ratio which is the ratio of the differences between the current assets and
inventory values to current liabilities; return on assets before taxes, controls the
quality of goods produced and many others.

Statistics greatly affect towards the decision making of every sector. It gives
a concrete idea on a subject matter and the specific area of study. Primarily, it
help us lead or come up certain assumptions to contribute in the reshaping of
policy and as well as improving the body of knowledge.