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Accounting
Beginning of paper
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 stated accurately and free of material er .... Middle of paper
.... firm and the industry being audited.Another industry that utilizes statistics on a daily basis is the insurance industry. In fact, this industry relies on statistics to help forecast its bottom line results. The typical insurance company uses statistics to determine approval rates for clients, while providing coverage (life, medical, dental, etc.) and turning a profit.For example, an insurance company might use statistical concepts to determ ....
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Number of words: 399
Number of pages: 2 (approx. 250 words per double-spaced page)
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