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Statistics as a subject holds vital importance in the day-to-day functioning of business enterprises. It deals with developing methods to collect, analyze, interpret and present empirical data on a graphical basis to promote better understanding and use. This method of analyzing data allows one to be completely in coordination with the huge loads of information provided, like graphs, pie charts, and histograms, making things a whole lot easier. Also, small as well as big business entities opt for Statistics and give it as equal importance as they give to other major matters. This is because this subject is vital to keep up with the huge stacks of data.
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