Statistics is needed at every stage of the research beginning from planning to the end, in order to gain scientifically importance and to obtain reliable results. The use of the inappropriate statistical method, technique and the analysis cause time and cost lost and most importantly thinking in the way of scientific ethics, it gives harm to science and humanity. Even if the study is carefully planned to conduct as a result of applications with errors, the misleading results might be obtained. That leads other mistakes who take as a reference to those studies.
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Yes, statistics are used in financial formulas if they are available. The integrity and accuracy of the statistics determine if they are chosen to be used in the first place.
properties of mode as used in statistics
There are many applications of statistics in education. Statistics are used to better prepare students for the real world and testing for example.
Inferential statistics uses data from a small group to make generalizations or inferences about a larger group of people. Inferential statistics should be used with "inferences".
In statistics, letter such as; a,..x..,z, is a variable used to represent an unknown value.