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Gn Reddy March 13, 2021
1) Everybody watches weather forecasting. Have you ever think how do you get that information? There are some computers models build on statistical concepts. These computer models compare prior weather with the current weather and predict future weather.

2) 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.

3) What do you understand by insurance? 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.

4) In financial market also statistic plays a great role. Statistics are the key of how traders and businessmen invest and make money.

5) 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.