Question

Define Statistics. Do you think the knowledge of statistics is essential in business
decisions?

Answer 1

Answer:

Statistics is a form of mathematical analysis that uses quantified models, representations and synopses for a given set of experimental data or real-life studies. Statistics studies methodologies to gather, review, analyze and draw conclusions from data. The Purpose of Statistics: Statistics teaches people to use a limited sample to make intelligent and accurate conclusions about a greater population. The use of tables, graphs, and charts play a vital role in presenting the data being used to draw these conclusions

Explanation:

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