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Statistics is more than just a branch of mathematics; it is a complete subject in its own right that studies data collection, analysis, and interpretation. Its significance can be seen in everyday life, where even non-statisticians use statistics without even knowing what they are. For example, a farmer decides the price of his crop while considering the land he used and the crop harvested, then the middlemen select a sample of the crop and estimate the quality of the entire crop based on the sample.   Statistics aids in calculating per capita income, inflation rate, unemployment rate, and other measures on which different countries compare each other. Statistics help to derive information from data and calculate all of the measures required to assess the health of the economy. For example, India has the world's fastest-growing economy because its GDP growth rate is greater than 7%, as measured by statistics.   Another sector that can assist us in understanding the significanc...

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