In Banking:
Statistics play an important role in banking. The banks make use of statistics for a number of purposes. The banks work on the principle that all the people who deposit their money with the banks do not withdraw it at the same time. The bank earns profits out of these deposits by lending to others on interest. The bankers use statistical approaches based on probability to estimate the numbers of depositors and their claims for a certain day.
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I thought statistics is the science which is used for different fields like banking and loans etc.,
application of statistics in engineering field
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.
In Banking:Statistics play an important role in banking. The banks make use of statistics for a number of purposes. The banks work on the principle that all the people who deposit their money withthe banks do not withdraw it at the same time. The bank earns profits out of these deposits by lending to others on interest. The bankers use statistical approaches based on probability to estimate the numbers of depositors and their claims for a certain day.
There are many reasons why statistics in are in important in a field of computer science. These statistics help improve computers.
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.