DESCRIPTION

As we all know that data are the information regarding a particular event. Data in its basic form don’t convey much of information. The main reason behind this is the fact that data are basically a set of unorganized information. A common man will not able to understand the unorganized information that is presented before him. Understanding of information related to a particular situation becomes very easy once the data is organized. In this article, I am going to highlight the most important that is available for collection and interpretation of data in a lucid manner. The tool that I am talking is statistics.

Statistics is one of the most important fields of study that mainly focus on organization of raw data. Statistics is the study of collection, organization and analysis of raw data in order to make the information more valuable and appealing. Statistical techniques form the basis of modern society. There are many areas where we can see the application of statistical techniques. Some of the major areas of applications of statistical techniques are as follows:

  • Fields related to Actuarial Science: There are certain concepts in the field of actuarial science that involves statistical techniques in order to get detailed information. Actuarial science uses statistical techniques to predict the future risks.
  • Fields related to Business: Statistical techniques form the basis of business areas. There are many statistical techniques that if used wisely can help in proper business development.
  • Fields related to Economics: We can use statistical techniques in this field to create painful economic analysis within a fraction of seconds.
  • Fields related to Finance: Finance in itself is one of the toughest subjects that I have ever come across. In order to ease down the task related to finance we can use statistical techniques.
  • Fields related to Research Analysis: There are certain spectacular statistical techniques that can help in doing a detailed research analysis of an event.

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Statistics Assignment Help | Statistics Homework Help

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Material

Assignment

  • Q1. 140.2 says that A Member shall maintain confidentiality, including in a social environment, being alert to the possibility of inadvertent disclosure, particularly to a close business associa...

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  • Instructions This assignment is to be submitted in accordance with assessment policy stated in the Subject Outline and Student Handbook. It is the responsibility of all students who have th...

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  • Transactions for June You will use the following five weeks of transactions as you complete the books for June. Note that the transactions are   divided into five separate weeks. This ...

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  • Important: You must show all calculations and explain how you got all your answers. For example, suppose a question asks what the profit will be in a particular month and you put "$50,000"...

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Solution

  • Answer 1: Rodney Brick has used the confidential information of one of his clients (Daffey Jones Ltd.) , for his personal use (in an assignment). Though he has removed the references which can p...

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  • Introduction This ACCY801 Business Accounting Report Assignment Help contains information regarding Newcrest Mining Ltd. that is operating in the mining industry or sector. In this report s...

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  • Introduction Auditing has been proved to be most important concern for every business origination in terms of evaluating true and fair view of the financial statements. Apart from auditing, ther...

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  • Report 1 Introduction This intermediate management accounting assignment solution gives a brief introduction of the Management Accounting concepts. It explains the factors that relate to...

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