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Why do we need statistics ? Give three reasons. |
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Answer» Uses of statistics are as follows: 1)Statistics mostly used by the researcher. They use their statistical skills to collect the relevant data. Otherwise, it results in a loss of money, time and data. 2) Everybody has some kind of insurance, whether it is medical, home or any other insurance. Based on an individual application some businesses use statistical models to calculate the risk of giving insurance. 3) Statistics play a big role in the medical field. Before any drugs prescribed, scientist must show a statistically valid rate of effectiveness. Statistics are behind all the study of medical. |
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