What are the uses and abuses of Statistics in the real world?

Give specific
examples and provide pieces of evidence.

The term "Uses and Abuse of Statistics" refers to the notion that, in some
situations, statistical findings may be used as evidence to refute these. However, most
of the time, people can clear up the statistical inference utilizing common sense
reasoning ideas. Organizations utilize statistics to inform their financial policy decisions,
whereas individuals use statistics to aid their financial planning and budgeting
decisions. Statistics are used by banks to evaluate market activity, foresee the effects of
economic crises, and lower risk in lending operations.
ABUSES EXAMPLES:
 When another "average" value could be more appropriate, why choose the
"average" value for a collection that best matches your argument?
 Making arbitrary comparisons between numbers, such as "one-third less carbs"
(answer: less than what?)
 Making assumptions about the causes of correlations between variables without
providing proof from a well-designed trial (for instance, "Physicians recommend
that taking lipogram twice a day "may" lessen your waistline by up to three
pounds in the first 7 days!").
When statistics are employed incorrectly, they might convince the untrained eye to
believe something different from what the data actually reveals. In other words, when a
statistical argument makes an untrue claim, it is misuse of statistics. The misuse could
occasionally be unintentional. In other cases, it is intentional and done to benefit the
offender. This is a statistical fallacy if the statistical justification used is inaccurate or
misused. The fake statistics trap can seriously harm research efforts. For instance,
reversing a fallacy in medical research could take decades and result in human
casualties. It can be simple to fall into vices. Professional scientists, including
mathematicians and statisticians, are susceptible to deception, even when they take
care to double-check their work. Due to their lack of understanding of probability theory
and the lack of standardization in their testing procedures, scientists have been known
to deceive themselves with statistics.