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Statistics are important as they help in making better and informed discussions related to business.

What are the 5 kinds of Statistics?Statistics is such a board concept and has many a lot of models under it.

And they are discussed below, Mean – when there are more than 2 numerals, then the average of those numerals mathematically is called the mean.

There are many ways to calculate mean, either arithmetically or geometrically.

The athematic one tells about the performance of a particular commodity over time.

Regression analysis – it is expressed as a straight called which is called linear regression and tells about the extent to which a particular factor, for instance, the influence of a sector, on a product’s price.

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