StatAanalytica

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Statistic AssignmentAndhomework
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Statistic Definition

• Statistics is a process of collecting, analyzing,
  interpretation of numerical data. It provides
  tools for prediction and forecasting. Statistics
  applies to a wide variety of academic
  disciplines. Statistics has been an integral part
  in almost fields. Whether its science, business,
  finance, economics or academic research,
  statistics play an important role.

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Two Main Branches Of Statistics Are As Follows

• Descriptive Statistics
• Inferential Statistics

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Descriptive StatisticsIt is the way to
summarize and interpret the collected data in the
numerical or graphical form. Descriptive
Statistics requires two types of statistical
ideas. First is a measure of spread also called
graphical summary. The graphical summary uses
graphical representation to analyze data. Second
is the measure of central tendency also called
numerical summary. In case of numerical summary,
mean, median, mode is used to analyze the given
data.

• Inferential Statistics
• Inferential statistics used to make an inference
  and describe the population. It is the study
  conducted for inferring or equating our data with
  the general conditions. So, this shows the
  difference between inferential statistics and
  descriptive statistics. Inferential statistics is
  used in the broader area of statistical study.

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