Statistic and probability. Mathematics & Economics Essay

Statistics and Probability in News
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Statistics and Probability in News
Statistics and probability has become increasingly important in the society today. In recent days, there have been talks and debates on the mainstream media on the Yellowstone Super volcano, and whether or not it will go off during our life time. I came across this article and established that it utilizes statistics to explain its geological information and data. It also poses a crucial statistical issue on whether or not we are at risk of experiencing eruption from the Yellowstone Caldera. I noted that this is one of the cases in which statistics and Probability helps us make decisions based on data analysis.
The article specifically utilizes knowledge on variability as the median and mean have been used in describing the center of the variable, but they are not conclusive (Pomeroy, 2019). This information can become clearer if the spread of the variable is considered, which implies that standard deviation has to be calculated as it measure...