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Accounting
Beginning of essay
Statistical concepts are used in various aspects on industry. The following highlights the use of statistics in these industries: /Auditing, Insurance, and Medical (Pharmaceutical).In the /auditing field, it is imperative that the auditor makes an effort to determine that financial statements are s ....
Middle of essay
....proach might be used to determine the likelihood of a population incurring extreme medical needs, birth rates, or surgery. The results of this approach help the insurance company project the probability of incurring medical, dental, and/or life claims and therefore, enables the company to establish premium rates that delivery profitable results.The medical/pharmaceutical industry is another major industry segment that utilizes statistical concepts on a daily basis. Statistical concepts are used .... |
| Number of words: 399 |
Approximate pages: 2 |
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