Understanding the Importance of Statistics in Decision Making | A Comprehensive Overview

A statistic is:a. a characteristic of a populationb. a characteristic of a samplec. the science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making more effective decisions

The correct answer is c

The correct answer is c. the science of collecting, organizing, presenting, analyzing, and interpreting data to assist in making more effective decisions.

A statistic is a numerical measure or characteristic that describes a sample or a population. It involves the process of collecting data from a sample or a population, organizing the data in a meaningful way, presenting the data through tables, graphs, or charts, analyzing the data using various statistical techniques, and interpreting the results to draw conclusions or make informed decisions.

Statistics is an important field that provides valuable tools and techniques for making sense of data and making informed decisions in various fields such as business, economics, social sciences, medicine, and more. It helps in understanding patterns, relationships, and trends in data, and assists in making predictions, testing hypotheses, and evaluating the effectiveness of interventions or strategies.

In summary, statistics is a scientific discipline that plays a crucial role in collecting and analyzing data to assist in decision-making processes.

More Answers:
Understanding Type 1 Error in Hypothesis Testing | Avoiding False Positive Conclusions
Understanding Type 2 Errors in Hypothesis Testing | How to Detect the Undetected
Exploring Measures of Location | Understanding the Average Value in Mathematics

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