Question: Statistics takes collected information (Data) and uses it to help us make decisions about the future (Inferential Statistics). As consumers we often make decisions that

Statistics takes collected information (Data) and uses it to help us make decisions about the future (Inferential Statistics). As consumers we often make decisions that involve a significant amount of money. In this week’s discussion, discuss how statistics can play a role in a particular important financial decision you have or may have to make. Some examples you can consider are a car purchase, stock investing, purchasing insurance, etc. It may help to think of something that involves probability or taking a chance. Probability plays a significant role in statistics as it helps measure the likelihood of something happening.

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