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What is the Applications of statistics in banking and finance?
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.
What is the importance of statistics to banking sector?
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.
How do you analysis a circle graph?
Analysis a circle graph through graphs and sociograms, Kinds of graphs, level of measurement, Each sector represents a part of the whole or circle is then split into parts,or sectors.
How tertiary sector differ from the other two?
Our economy has been segregated into three different sectors namely primary, secondary and tertiary. PRIMARY SECTOR: this sector is related to agriculture. We form products by exploiting the nature. Eg cotton. SECONDARY SECTOR: this sector is related to industrial activities. products are made by the ways of manufacturing in industries. Eg cotton(primary product) is converted to cloth in industries(secondary product), biscuits,etc. TERTIARY SECTOR: this sector is the service sector which rather than producing goods provides services to the people. this sector helps in the upliftment of the primary and tertiary sector. EG. transport, banking, communications, storage, trade,etc. it also includes professionals such as lawyers, doctors, teachers, professors, etc. Now a days ATM machines, IT industries are also a part of the tertiary sector.
The importance of mathematics to the banking sector?
Accountability, Accuracy and Assurances are key factors of any banking sector. So goes with the Maths. Even if you have to set up a network of computers (online/Offline) you need a critical mathematics for error free working. Banking is money. Money given and money paid back differences the amount of profit done by the bank. Whether it is rule of 69 or 72 , We need to know maths. Because Banks don't deal with memory.It deals thru calculation. The amount taken as a loan and the interest calculated as a profit needs a mathematical calculation.
