Assignment needs to be done
Statistics is a branch of mathematics that deals with the collection, analysis, interpretation, and presentation of data. The types and levels of statistics include descriptive statistics (which are used to summarize data), inferential statistics (which involve making predictions about population parameters based on a sample), probability distributions (that show how likely an event is to occur), hypothesis testing (used to determine if observed evidence contradicts or supports a given hypothesis) and regression analyses (used to examine relationships between two or more variables). Statistics plays an important role in business decision making by providing insight into customers’ purchasing patterns, market trends, employee performance, financial stability, and other factors. Statistical analysis helps firms make informed decisions about strategy development, operations management, marketing campaigns, product design/pricing strategies and much more.