Question

statistics play a vital role in decision making. discuss ​

Answer 1

Answer:

Statistics can also aid the decision making process by enabling us to establish numerical benchmarks and monitor and evaluate the progress of our policy or program. This is essential in ensuring that policies are meeting initial aims and identifying any areas which require improvement.

Answer 2

$\bold{\underline{Answer:-}}$

Statistical research gives managers the information they need to make informed decisions in uncertain circumstances. When managers analyze statistical research in business, they determine how to proceed in areas including auditing, financial analysis and marketing research.

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Statistical knowledge helps you use the proper methods to collect the data, employ the correct analyses, and effectively present the results. Statistics is a crucial process behind how we make discoveries in science, make decisions based on data, and make predictions.