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How does the statistical process help make informed decisions?
Because statistics tell us what the presents trends are now or were that can be projected into future.
What is the application statistics in business?
Statistics help managers make decisions. They use statistics when it comes to production and hiring employees. Statistics are everywhere in the business world.
What problem-solving techniques will help you make good decisions?
Well There are many problem-solving techniques but the one's that are going to help you are the ones where you choose to be Involved. Math techniques also help you in life.-Taylor Ellen Marie Erikson
How can Mathematics Statistics help people in real life?
Mathematics Statistics help people in real life for example, in helping make decisions on medical issues or for another example, activities where the weather may be a factor.
How is statistics applied in management?
Statistics has huge application in business and these are used to help in taking managerial decisions by the managers. Moreover, there are many statistical formulas which make too much convenience in taking managerial decisions. They are also helpful in calculating GDP of a business or state.
