The term Applied Statistics refers to the use of statistical theory to conduct operational activities in a variety of fields in real life situations.

The term Applied Statistics refers to the
use of statistical theory to conduct operational activities in a variety of
fields in real life situations. Today, the applications of statistics are an
indispensable part of any and every activity. There are many fields in which
statistical concepts can be applied, some of them are business decision making,
finance, marketing, economics, social sciences, industry, agriculture etc… An
important aspect of applied statistics is to study about the present and future
behaviour of the activities performed in an industry.

Walter Andrew Shewhart
(pronounced like “shoe-heart”, ) was an American physicist, engineer and
statistician, sometimes known as the father of statistical quality control and
also related to the Shewhart cycle.

In this chapter we would
be studying about the theoretical and application of the statistical methods of
Time Series, Index Number and Statistical Quality Control. Each one of them has
its importance in its field of application. Statistical analysis has been
widely used for scientific research, surveys, experiments etc. The reliability
of the interpretation of the statistical analysis depends upon the informations
collected and represented.

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12th Business Maths and Statistics : Chapter 9 : Applied Statistics : Introduction | Applied Statistics

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