Statistics plays a crucial role in daily life of every individual. Every decision made by an individual or a group often apply statistics. However, most people apply it unknowingly. It is essential to understand the statistical concepts used as well as their applications in daily life. This paper is set to define statistics, highlight the key differences between qualitative and quantitative data, evaluate the use of charts or tables, as well as the application of statistics in business decision-making. Additionally, daily life application of statistics is analyzed.
Definition of Statistics
Statistics refers to the ways or techniques in which data is collected, ...
