In what fields is statistics used and how
Answer (1)
24th Jul, 2018
Statistics is used in economics:Economist use statistics to collect information, analyze data and test hypotheses.Relationship between supply and demand and imports and exports are found using statistical information.
Statistics is used in Accounting:Statistics is used in accounting to create projections for next fiscal year.
Statistics used in Banking:Bankers use atatistical approach to estimate the number of people making deposits compared to number to number of people requesting loans.
Statistics used in astronomy:Astronomers use estimates in mathematical theories to devise their best guess to just how far itms in the universe are away from each other.
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