It's like using math to collect, organize, and understand numbers or information to answer questions or solve problems.
Statistics is a branch of mathematics dealing with the collection, analysis, interpretation, and presentation of masses of numerical data.
It provides methods for designing experiments, surveys, and studies, as well as for collecting, analyzing, interpreting, and presenting data.
Statistics is used in various fields, including economics, social sciences, psychology, and engineering, to make informed decisions based on data.
The key areas of statistics include:
1. Descriptive Statistics:
These methods summarize and organize data using numbers and graphs so that patterns can emerge.
Examples include measures of central tendency (mean, median, mode) and measures of variability (range, variance, standard deviation).
1. Inferential Statistics:
These methods use a random sample of data taken from a population to describe and make inferences about the population.
Inferential statistics are valuable in hypothesis testing, estimating population parameters, and making predictions.