What are Statistics?
The examination and interpretation of data is the simplest definition of statistics. Statistics involves the analysis and processing of numerical data, as we just covered in the introduction.Statistics Case Studies
Let's assume each class member's average grade with a total strength of 60. Here, the data of the grades earned serve as the average value. Take another instance. Imagine you need to know how many people work in a city. We shall poll 500 individuals here because the city has 15 lakh residents. Based on that, we will generate the statistics data.Statistics Fundamentals
The measures of central propensity and distribution are among the fundamental concepts in statistics. Mean, mode and median are the core trends, whereas standard deviation and variance are the dispersions. The mean represents the average of the data. The median result is in the middle when observations are sorted in order. The most common observations in data collection are identified by the mode. The degree of dispersion among the data collection is measured by variation. Data dispersion from the average is measured by standard deviation. The variance is equivalent to the square of the standard deviation.Types of Statistics
There are essentially two categories of statistics:- Descriptive Statistics
- Inferential Statistics
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Descriptive Statistics
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Inferential Statistics
