What is Statistics
Statistics is a science of collecting, analyzing and inferring data in particular order to make important decisions. A study of statistics offers understanding of various tools and techniques to gather, classify, illustrate, enumerate and summarize data. It involves Math that manipulates raw data gathered through observation and help analysts and statistics represent data in better way and make inferences.
Importance of Statistics
Statistics is very important as it explains human thought and behavior, show specific trends and correlations, open mysteries of physical universe.
What is data?
Statistics depends on data are the information collected during experimental study. Further, gathered and recorded data is used to describe characteristics of each group.
Types of Data Sets
There are two types of Data Sets: Population and Sample. Population is collection of all measurements, counts and outcomes that are responses in interest. Sample is a break up or part of population. Both population and sample data set depends on the context of real-life situation. Population tends to be extensively large where most studies obtain information from samples. Parameter in number that describes population characteristics and Statistics is number that describes sample characteristics.
Branches of Statistics
There are two branches of Statistics: Descriptive and Prediction. Descriptive Statistics comprises of organizing, summarizing and displaying data which can be used to reveal distribution of data in each variable. While, prediction statistics is based on concept of generalizability involves use of sample data to draw conclusions about population.
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