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A further sector that may help us in recognizing the necessity of statistics is definitely the banking sector, banking institutions take deposit within the Individuals who have extra of cash and lend dollars to the individuals who need it for investment decision or every other goal.
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Now, banking institutions use statistical ways such as probability to calculate the depositors who withdraw dollars on a specific working day these methods help banks for making financial gain simply because banking institutions make income out of these deposits by lending other over a higher interest fee than paid Environmental Policy Essay to depositors.
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