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Subjects>Math>Math & Arithmetic

What are the application of statistics in decision making?

Anonymous

∙ 11y ago

Updated: 9/27/2022

If a person knows that there is a 70% chance that an antibiotic would work on an infection, this information would drive that choice. If it was 10%, another choice may be looked for.

Wiki User

∙ 11y ago

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How is statistics applied to information technology?

You can apply statistics when examining efficiency, performance, or making prediction. This certainly has application within IT.

What is the importance of statistics in accounting?

statistics and accounting both are very similar to each other regarding their uses, because both are tools of decision making. To take decision regarding average, standard and marginal you have to take help from statistics even if you are accountant.

What is statistics and its role in society?

Statistics can be defined as the collection of , analysing of, and interpreting of data for the purpose of making useful decision. The major role of statistics in the society is that it presents data in a precise and simple form.

What is the definition for Psychological Statistics?

Psychological statistics is the application of statistics to psychology.

What information can statistics provide that may be helpful for business decision making?

it can provide passed business running data

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