I am writing an essay for my statistics class and I need to answer this question. I want to have my own cake shop, so what does role would statistics play in this?
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I suppose you could figure out the probability of how many cakes you would sell in a month, the likelihood of your suppliers prices going up, and probably the efficacy of your marketing campaigns.
In reality, you would use little to nothing of what you learn in statistics class in your business.
What role does statistics play in having my own business?
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