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Subjects>Math>Statistics

What are the importance of statistics in business?

Updated: 4/28/2022

Wiki User

∙ 9y ago

Best Answer

plays vital role in classification and analyses of data

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∙ 3y ago

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Wiki User

∙ 10y ago

Statistics can help in business in terms of analyzing, collecting and interpretation of data relevant to decision-making. Statistical marketing figures and theory of probability can also help in order to predict the success of the proposed marketing action.

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