Math 40 Statistics| 01|14|2024
- Is statistics important for modern organizations? Why or why not?
- Identify and explain the difference between the following data types (Categorical, Numerical, Discrete, Continuous).
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Is statistics important for modern organizations? Why or why not? Identify and exiter’s choice
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Answer
Statistics in Modern Organizations Modern businesses evaluate the present, gain insight from the past, and predict the future through the application of statistical methods (Kenett & Zacks, 2021). Statistics are required to make sound decisions. Businesses increasingly collect massive volumes of data about their operations, clients, and markets since everything is data-driven. Businesses learn how…