to know where are future generation might be heading and what is in store for the

generations to come. it shows progress or digress in the educational system and keeps us
aware and informed on the effectiveness of the educational system

The word statistics have been derived from the Latin word status or the Italian word
"statista". Both the word means a political state. The word statistic is also found used by
Shakespeare and Milton in the same of states men i.e. a person well versed in the affairs
of the state. Its originally meant information useful to the state.

Statistics has come to play an important role in almost every field of life and human
activity. There is hardly any field where statistical data or statistical methods are used for
one purpose or the other our arrival in this world and departure from here are recorded as
statistical data somewhere and in same form.

Statistics plays an important role in business, because it provides the quantitative basis
for arriving at decisions in all matters. All types of banks make use of statistics for a
number of purposes. Statistics has proved to be of immense use in physics and chemistry.
It has given a new understanding to the essential qualities of the laws of nature.

Statistics plays an important in psychology and education. In experimental psychology,

whenever a problem has to be studied, it has to be based on a sample. Statistical methods
are also used in analyzing the experimental data and drawing conclusions there from.

We have seen that statistics now holds a central position in almost every field and the
importance of statistics is increasing day by day.

Statistics is a mathematical science involving the collection, interpretation, analysis, and

presentation of data. It is often used to make predictions based on data. It is widely
applicable in various social and natural sciences as such as political science and medicine
as well as in business such as the insurance industry.
For example, statistics are a very important part of political campaigns as they lead up to
elections. Every time a scientific poll is taken, statistics are used to calculate and illustrate
the results in percentages and to calculate the margin for error.
Statistics are also used in psychology. People’s behavior can be measured on a bell curve.
Most people fall within acceptable ranges of the bell curve. However the people who fall
outside "the norm" or on the "fringe" of the bell curve may be considered unstable.
Statistics are very important in various aspects of business; a terrific example is the
insurance industry. It is the job of an actuarial scientist to determine how long people will
live (statistically), how likely they are to have an accident, and how likely is it their home
will burn down or be damaged in a hurricane? These risks are all rated based solely on
statistical data and policies are priced accordingly.

A statistic is the result of applying a proper function (algorithm) to a set of data available
to us.

Statistics has come to play an important role in almost every field of life and human
activity. There is hardly any field where statistical data or statistical methods are used for
one purpose or the other our arrival in this world and departure from here are recorded as
statistical data somewhere and in same form.

Statistics plays an important role in business, because it provides the quantitative basis
for arriving at decisions in all matters. All types of banks make use of statistics for a
number of purposes. Statistics has proved to be of immense use in physics and chemistry.
It has given a new understanding to the essential qualities of the laws of nature.

Statistics plays an important in psychology and education. In experimental psychology,

whenever a problem has to be studied, it has to be based on a sample. Statistical methods
are also used in analyzing the experimental data and drawing conclusions there from.

IMPORTANCE OF STATISTICS IN VARIOUS FIELDS

As stated earlier, Statistics is a discipline that has finds application in the most diverse
fields of activity. It is perhaps a subject that should be used by everybody. Statistical
techniques being powerful tools for analyzing numerical data are used in almost every
branch of learning. In all areas, statistical techniques are being increasingly used, and are
developing very rapidly.

i. A modern administrator whether in public or private sector leans on statistical data to

provide a factual basis for decision.
ii. A politician uses statistics advantageously to lend support and credence to his
arguments while elucidating the problems he handles.
iii. A businessman, an industrial and a research worker all employ statistical methods in
their work. Banks, Insurance companies and Government all have their statistics
departments.
iv. A social scientist uses statistical methods in various areas of socio-economic life a
nation. It is sometimes said that "a social scientist without an adequate understanding of
statistics, is often like the blind man groping in a dark room for a black cat that is not
there".
Article: The Perceived Importance of
Statistics in the Logistics and
Transportation Industry.
Article from:
Journal of Education for Business
Article date:
March 1, 2001
Author:
PARKER, R. STEPHEN; KENT, JOHN L.; BROWN, THOMAS S.
COPYRIGHT 2009 Heldref Publications. This material is published under license from
the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries
regarding rights or concerns about this content should be directed to customer service

ABSTRACT. In this article, we examine the quantitative skills necessary for entry-level
managers to be successful in the logistics and transportation industry. A mail survey was
sent to executives in ocean carriers, motor carriers, and third-party logistics companies.
The responses indicated that statistics played either a critical or a supportive role in the
operation of their companies. Sampling, graphics, probability, and quality methods were
the most widely used statistical techniques. Among available software, the spreadsheet
(Excel) was the top choice. We include suggestions for ensuring that appropriate
statistical techniques are incorporated into an undergraduate statistical curriculum.

The area of logistics and transportation (L&T), which traditionally has been viewed as a
cost center in many organizations, is now being viewed by both practitioners and
academics as a profit center. Further, companies are realizing that a more thorough
understanding of this area could place them in a position of having a clear and
recognizable competitive advantage in their industries. The logistics and transportation
industry is operating in an extremely competitive marketplace. Given the expansion of
global competition and legislative and demographic changes affecting both the L&T
industry and those who use its services, it is imperative that all areas of logistics and
transportation be understood more thoroughly.

Academic interest in the area can be seen by the number of L&T programs created in the
past several years. Presently, there are 51 undergraduate L&T programs in the United
States (CLM). Academic research in the area has become more readily available and now
covers a wide range of issues. However, several areas have received little or no attention
in the logistics and transportation literature. For example, numerous studies have focused
on the process used by suppliers to select a motor carrier (Abshire & Premeaux, 1991a,
1991b; Evans & Southard, 1974; Murphy, Daley, & Hall, 1997). Little research has
focused on the selection process for those managers who work in and are responsible for
guiding the L&T industry into the next century. A review of textbooks used in L&T
programs reveals that the majority of topics covered relate more to the specifics of
various types of transportation modes than to specific individual skills (marketing,
management, etc.) needed by the manager. Though an examination of textbooks used in
such programs reveals the wide variety of management skills necessary, an equally wide
variety of statistical skills is required to successfully plan and execute various L&T
functions.

Therefore, the purpose of this research was to examine the quantitative skills considered
necessary for entry-level managers to succeed in the L&T industry. Specifically, we
sought to identify which statistical techniques are seen as most important in the motor
carrier, ocean carrier, and third-party logistics (3PL) segments of the overall L&T
industry, which techniques are being taught in business schools, and how these two areas
might be more closely related in building curriculum.