Application of statistics in Pharmaceutical industry * * * Bookmark Although the advancement of medicine has prolonged and improved the life of many people over the years‚ it is important to remember that it is not an exact science. While some treatments do seem to offer a complete ’cure’ for any particular ailment universally‚ the vast majority of medicinal treatments do not. As such‚ it is important that statistics are used in medicine in order to justify the development and subsequent
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INTRODUCTION Statistics and mathematics are everything to economics. infact statistics and Mathematics‚ the economic field wouldn’t even exist. Economist need statistics to represent data‚ to track and store information‚ to identify trends‚ to attribute value and mathematics to calculate those figures.The way to look at the relationship between statistics and economics is that economics is essentially the study of human decisions and trends‚ and how these have a financial impact. Economists
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Statistics are common tools being used to analyze any particular data in the purpose for forecasting one specific issue or using them to conclude something in general. Perfect graphs are very influential tools for displaying large quantities of complex data. Therefore‚ they help transfer different ranges of information available today into knowledge. However‚ some graphs deceive or mislead. A deceptive statistic can occur intentionally or unintentionally‚ but most of the time‚ it usually has been
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SEMISTER 1 Statistics for Management: 1.Statistics plays a vital role in almost every facet of human life. Describe the functions of Statistics. Explain the applications of statistics. Ans:Branch of mathematics concerned with collection‚ classification‚ analysis‚ and interpretation of numerical facts‚ for drawing inferences on the basis of their quantifiable likelihood (probability). Statistics can interpret aggregates of data too large to be intelligible by ordinary observation because such data
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Statistics can be defined as the method of collection and analysis of data in such a way as to minimize any uncertainty in the conclusion drawn from the data so as to be able to assess the degree of such uncertainty. It could be observed from the above definition that statistical analysis‚ error could arise but statisticians need to minimize such errors so as to be able to achieve a desirable result. Also statistics can be said to be; a branch of mathematics that deals with the collection‚ organization
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Southwest Airlines‚ along with other commercial airlines‚ collect data on their performance and using statistics convert the raw data into useful information. One example of data collected by Southwest is the on time arrivals. The on time arrival category is then further broken down to the time the plane departs the gate‚ takes off‚ lands‚ and arrives at the gate. This additional data can help Southwest determine where time was lost resulting in a flight not arriving on time. In addition‚ Southwest
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What is Statistics? "Statistics is a mathematical science pertaining to collection‚ analysis‚ interpretation and presentation of data" (Wikipedia contributors‚ 2006). Statistics are a valuable kind of information because they can provide data for making comparisons and determining trends. There are many uses for statistics‚ "but perhaps its most important purpose is to help us make good decisions about issues that involve uncertainty" (Bennett‚ Briggs‚ & Triola‚ 2003‚ p. 8). Kinds of Statistical
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Braemar Seascope Research 1st April 2012 All details given in good faith and without guarantee For Tanker Chartering please telephone +44 (0)20 7535 2626. Tanker Fleet Statistics Braemar Seascope Research The information and analysis contained within this report is believed to be correct as of 1st April 2012 and is presented in good faith. Whilst much effort has been made to ensure the accuracy of the information and analysis contained herein this cannot be guaranteed. In the event
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CHAPTER 12: TESTS FOR TWO OR MORE SAMPLES WITH CATEGORICAL DATA 1. When testing for independence in a contingency table with 3 rows and 4 columns‚ there are ________ degrees of freedom. a) 5 b) 6 c) 7 d) 12 ANSWER: b TYPE: MC DIFFICULTY: Easy KEYWORDS: chi-square test of independence‚ degrees of freedom 2. If we use the [pic] method of analysis to test for the differences among 4 proportions‚ the degrees of freedom are equal to:
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Statistics compiled by the government show that crime rates are up across the country. The fact is that the average person in Chicago is very aware of the rising crime rates. Simply take a look at the crime statistics in a local newspaper or watch the local news broadcasting details about the latest crime committed locally. The fact is that most large cities are experiencing higher crime rates. Surprisingly‚ smaller towns are not immune to rising crime statistics. Statistics show that break-ins and
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