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What is Statistics? Statistics as a subject refers to mathematical analysing, summarising, and interpreting the data and information in a visual aid format like graphs, pie charts, etc. It is said to be a characteristic of samples available with us! Usually, it is used to find the value of the population parameters. For example, the study of the average height of the students in a class will be to find statistics.
Statistics And Its Types There are two main types of statistical methods used to analyse and measure data, namely: Descriptive statistics- this type of statistics deals in the collection and presentation of data. This is also the first step in the process of statistics, but not as simple as it sounds. The professional should hold full knowledge of designing the experiment, choosing the right target audience, and to avoid biases. Inferential statistics- this type of statistics involves making the right conclusion and summary from the inference drawn in the first step. At the end of an inferential statistics, where inferences are given a maximum of importance makes the study complete.
Importance Of Getting The Statistics The four main points that make the statistics an important aspect: • It makes the work of an individual simple and helps to draw a simple figure to the problem. • It also helps to research well on subjects like mathematics, business, social sciences, etc. • It also helps to organise the data interpretation in a much simpler way to make the analysis and reading of the same easy. • While criticising any analysis, statistics help us to develop and inference easily and handy.
Statistics And Its Measure Some of the statistical measurements are: • Variance • Mean • Medium • Regression analysis • kurtosis
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