![]() ![]() The following websites from provide some examples how statistics might be utilised by business in Statistics are also used widely in analysing Population in areas such as health needs, spending patterns, transport use. Use information from a small sample to make predictions about the whole Population and demographics to help plan infrastructure and services for theįuture. They can play a role in predicting changes in a Risk from weather events for example and the cost of reducing that risk such as ![]() Premiums by analysing the likelihood of events and they can be used to estimate Statistics are also used in calculating insurance Statistics can be used in analysing the effectiveness of investments andĬomparing different investment strategies and in predicting the future Every walk of life, and are particularly useful in business.Īre widely used in Market Research to help design and market new products.
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