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In what fields is statistics used and how


Naman mathpal 24th Jul, 2018
Answer (1)
sheetal naik 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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