What Is The Importance Os Statistics In The Field Of Banking And Finance?

4 Answers

Anonymous Profile
Anonymous answered
If any bank want to implement any new policy or anything new then they conduct an institutional by state-wise, rural and urban, educated or uneducated, female and male and so on.... Based on the information gathered they choose which place we can get good response for that.

Again based on the probability theory banks decided that how many peoples can deposit in our bank and how long, and how much amount. Based on this they provide loan and deposit in other institutional finance and borrowing shares.

Based on statistics onl;y they can compare with other banking sectors and find future growth and so on.
Anonymous Profile
Anonymous answered
In history, statistics has been widely used for working out the percentages of the various phenomenon and occurrences during different eras.

In banking, statistics is used to provide the aggregate financial information along with structural data, that is the number of institutions and branches etc.
Statistics can also be used to calculate the percentages of different people using the several facilities in banking.

Statistics is important in psychology because it helps in Research methods. It also helps in measuring the different variables and the frequency with which they occur, which in turn plays a role in deducing results and theories.
Maynard Keynes Profile
Maynard Keynes answered
Statistics mainly divided into descriptive statistics and inferential statistics. Given a set of data, statistics can be summarized and described the data, the use referred to as descriptive statistics. In addition, the observer in order to establish a form of data to explain the randomness and uncertainty of the mathematical model to infer the study to the steps and the mother, such usage is called inferential statistics. Both uses can be referred to as applied statistics. And banks in the economy is the application of these concepts.

Answer Question