Project Description:Identify and analyze a real-life, business application of statistics.The “business” can be a for-profit, non-profit, small or large entity.The following are not acceptable topics: A specific application/problem discussed in class An application that uses descriptive statistics (i.e., graphs, percentages, measures of central tendency or dispersion) The statistical procedure you choose to illustrate MUST be one that was covered in this course. You do not have to collect actual data from a business or apply the statistical procedure/calculate an answer.To complete your project, copy and paste the form on the second page of this document.Then, fill in all the blanks.You can adjust the size of the answer spaces as necessary – the lines are just there to indicate where the answers go.Do not hand in this instruction page.Criteria & Administration:Be concise.Your project submission must not exceed two (2) pages in length (12-point font). You must write this.Copies of documents/analyses written by someone else will not be accepted. Submit this project via the course website.The form provided is in bold font.Do not use bold font for your responses.Using a colored font (other than red) for your responses is preferable.Hints:If you need help finding ideas for business applications, read the problems at the end of the relevant sections/chapters of the textbook.These problems usually include a business application/context.And, you can always “Google it.”If you have difficulty finding an actual business application, you can design and propose one for a specific business.