QNT351 Week 1 Individual Assignment - Statistics in Business

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Write a 300-word summary that addresses the following criteria:

• Define statistics.
• Identify different types and levels of statistics.
• Describe the role of statistics in business decision making.
• Provide at least three examples or problem situations in which statistics was used or could be used.

Statistics play a very large role in many different areas of our everyday lives. The businesses that we work for use statistics to aid them in their everyday operations. We as individuals see statistics everyday even when we watch the news and see the percentage of a chance of rain.
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