Accounting 2
Beginning of paper
Statistical concepts are used in various aspects on industry. The following highlights the use of statistics in these industries: Accounting/Auditing, Insurance, and Medical (Pharmaceutical).In the accounting/auditing field, it is imperative that the auditor makes an effort to determine that financ ....
Middle of paper
.... test work required to achieve ”adequate" scope coverage to meet a representative sample of the financial scope. This use of statistics provides an auditor with a lower cost approach to substantiate accuracy -- this is important to both the auditing 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 s ....
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Word count: 402
Page count: 2 (approximately 250 words per page)
