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Banks take your money and invest it into the stock-market and there is a trillion different ways statistics are use to analyze stocks. Basically the banking industry would collapse without statistics, or if a bunch of stupid people were in charge of it.

Q: What is the importance of statistics to banking sector?

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statistics has nothing to do with real banking but it has scope in research and development department as in every r & d sector it uses tables and graphs and measures of central tendency to show the real result or expected one etc.

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The statistical tools are used in banking sector for making a decision.How do a bank invest their money in capital market or for lending to their customer,they have to use statistics.It is also use in forcusting in the banking sector.

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