1) Business:
Statistics play an important role in business. A successful businessman must be very quick and accurate in decision making. He knows that what his customers wants, he should therefore, know what to produce and sell and in what quantities. Statistics helps businessman to plan production according to the taste of the costumers, the quality of the products can also be checked more efficiently by using statistical methods. So all the activities of the businessman based on statistical information. He can make correct decision about the location of business, marketing of the products, financial resources etc
The two main forms of statistics are qualitative (descriptive) statistics and quantitative (inferential or inductive) statistics.
what is the importance of statistics?
Statistics in medicine provide people the information to fully understand the usage of a particular treatment or drug. It also helps in monitoring and improving certain fields in medicine.
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The two main forms of statistics are qualitative (descriptive) statistics and quantitative (inferential or inductive) statistics.
what is the importance of statistics?
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Statistics in medicine provide people the information to fully understand the usage of a particular treatment or drug. It also helps in monitoring and improving certain fields in medicine.
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ai want to know the importance of statistics in nigeria
Statistics play a crucial role in geography by providing tools for data analysis, interpretation, and decision-making. Geographic information systems (GIS) rely heavily on statistical techniques to analyze spatial data and identify patterns and relationships. Statistics help geographers understand trends, make predictions, and draw meaningful conclusions about spatial phenomena such as population distribution, land use, and environmental changes. Overall, statistics in geography help researchers gain insights into complex geographical processes and inform evidence-based decision-making in areas such as urban planning, resource management, and environmental conservation.
Statistics are a crucial part of the field of medicine. Health statistics provide information about studies which help to track the progress of research and development of new cures and technology. In addition, health statistics give a good glimpse of the overall health of the human race, showing which diseases are prevalent in different locations, as well as how the quality of health varies by location, age, and other factors.