Why Is Statistics Important

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Statistics is an integral part of all natural and social sciences. The methods of natural sciences are reliable but their conclusions are sometimes not so probable because they are based on incomplete evidence. Statistical helps in describing these measurements in a precise manner. A lot of statical methods like probability averages, dispersions, estimation are an integral part of mathematics and are frequently used in this field. 4. Banking: Another area where statistics plays an important role is banking. Banks require statistics for a number of reasons and purposes. Almost all banks work on the principle that when one of their customer invest some money in their bank, they will keep it in their bank for some time and not withdraw it. By…show more content…
Let 's visualize a situation for a minute. Let us try to think of a world without computers. If this happened, people in the medical field would not have have found a lot of cures to diseases, because computers have played a vital role in the process of helping medical professionals gain better insights into the world of diseases and health. Again, movies like Toy Story and Jurassic Park would not have been possible without computers because these movies have made use of computer graphics and animation. Pharmacies would have a difficult time in keeping track with what medications to give to to their patients. Counting votes would be close to impossible without computers and even more importantly space exploration would have still remained a distant dream for all space enthusiasts. Because of the growing importance of computers, computing technologies have taken on an even bigger role and this has resulted in the ability of machines to automatically apply complex mathematical calculations to big data at a faster and more rapid pace. Some of the widely publicised examples of machine learning applications that today extremely popular in the world include the

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