Application of Statistics in Various Sector Volume-2

Statistics is a powerful tool that can be applied to various domains of study, including engineering, management, finance, scientific research, banking, economics, mathematics, astronomy, meteorology, industries, and businesses. It plays an important role in decision-making and can handle enormous data effectively. Statisticians provide knowledge and experience of all aspects of data evaluation, from research question through design and analysis to interpretation. In particular, statistics contributes to the field of artificial intelligence through methodological development, consistency statements, and generalization bounds. Overall, statistics is a broad cross-scientific discipline that provides solutions to decision-making, optimization, planning, scheduling, and data analysis.