Statistics Definition: Statistics is a branch that deals with every aspect of the data. Statistical knowledge helps to choose the proper method of collecting the data and employ those samples in the correct analysis process in order to effectively produce the results. In short, statistics is a crucial process which helps to make the decision based on the data.
What is Statistics in Maths?
In Mathematics, statistics concerns the collection of data, organisation, interpretation, analysis and data presentation. The main purpose of using statistics is to plan the collected data in terms of experimental designs and statistical surveys. Statistics is considered a mathematical science that works with numerical data. In short, statistics is a crucial process which helps to make the decision based on the data.
Statistics Example
An example of statistical analysis is when we have to determine the number of people in a town who watch TV out of the total population in the town. The small group of people is called the sample here, which is taken from the population.
Types of Statistics
The two main branches of statistics are:
- Descriptive Statistics
- Inferential Statistics
Descriptive Statistics – Through graphs or tables, or numerical calculations, descriptive statistics uses the data to provide descriptions of the population.
Inferential Statistics – Based on the data sample taken from the population, inferential statistics makes the predictions and inferences.
Both types of statistics are equally employed in the field of statistical analysis.Learn in detail descriptive and inferential statistics here at BYJU’S.
Characteristics of Statistics
The important characteristics of Statistics are as follows:
- Statistics are numerically expressed.
- It has an aggregate of facts
- Data are collected in systematic order
- It should be comparable to each other
- Data are collected for a planned purpose
Importance of Statistics
The important functions of statistics are:
- Statistics helps in gathering information about the appropriate quantitative data
- It depicts the complex data in graphical form, tabular form and in diagrammatic representation to understand it easily
- It provides the exact description and a better understanding
- It helps in designing the effective and proper planning of the statistical inquiry in any field
- It gives valid inferences with the reliability measures about the population parameters from the sample data
- It helps to understand the variability pattern through the quantitative observations
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Frequently Asked Questions on Statistics Definition
Q1
What is Statistics?
Statistics is the branch of mathematics for collecting, analysing and interpreting data. Statistics can be used to predict the future, determine the probability that a specific event will happen, or help answer questions about a survey. Statistics is used in many different fields such as business, medicine, biology, psychology and social sciences.
Q2
What are the types of statistics?
There are two types of statistics. One type is called descriptive statistics, which focuses on summarising data. Another type is called inferential statistics, which focuses on making conclusions about populations based on samples.
Q3
Why are statistics vital?
Statistics is an important field because it helps us understand the general trends and patterns in a given data set. Statistics can be used for analysing data and drawing conclusions from it. It can also be used for making predictions about future events and behaviours. Statistics also help us understand how things are changing over time.
Q4
What are the uses of statistics in real life?
Statistics is an integral part of our lives. It is used in the workplace and everyday life. In the workplace, statistics are often used to analyse what works best for a company’s marketing strategy or how to distribute work among employees. In daily life, statistics can be used to analyse what food you should buy at the grocery store or how much money you spend on purchasing each week. Statistics are everywhere, and they help us make sense of the world around us.
Q5
What are the most important concepts covered in statistics?
The most important concepts covered in Statistics include mean, median, mode, range, and standard deviation.
FAQs
The two major areas of statistics are known as descriptive statistics, which describes the properties of sample and population data, and inferential statistics, which uses those properties to test hypotheses and draw conclusions. Descriptive statistics include mean (average), variance, skewness, and kurtosis.
What are the 5 importances of statistics? ›
Statistics are important in everyday life because they help us make informed decisions, understand risks, follow the news, conduct research, and make predictions about the future based on past data.
What is the definition of statistics and examples? ›
A statistic is a number that represents a property of the sample. For example, if we consider one math class to be a sample of the population of all math classes, then the average number of points earned by students in that one math class at the end of the term is an example of a statistic.
What is the importance of statistics in a PDF? ›
Statistical methods are an essential and vital tool in scientific research and scientific research. It helps in designing experiments, analyzing and interpreting data.
What are the 5 basic statistics? ›
5 basic statistics concepts
- Regression. Regression is a method for comparing two variables when one of them is independent and the other, or the others, depends on that first variable. ...
- Calculating the mean. ...
- Standard deviation. ...
- Sample size determination. ...
- Hypothesis testing.
A summary consists of five values: the most extreme values in the data set (the maximum and minimum values), the lower and upper quartiles, and the median. These values are presented together and ordered from lowest to highest: minimum value, lower quartile (Q1), median value (Q2), upper quartile (Q3), maximum value.
What are the basic concepts of statistics? ›
The basics of statistics include the measure of central tendency and the measure of dispersion. The central tendencies are mean, median and mode and dispersions comprise variance and standard deviation. Mean is the average of the observations. Median is the central value when observations are arranged in order.
What is the most important thing in statistics? ›
The three essential elements of statistics are measurement, comparison, and variation. Randomness is one way to supply variation, and it's one way to model variation, but it's not necessary.
What are examples of statistics in everyday life? ›
Statistics in everyday life can be used to estimate budgets for households. Knowing average fuel, food, and entertainment costs help prepare a person for the likely expenses they will have next month or the month after that, and these numbers can be found by averaging the values found on previous bills and receipts.
What is a statistic example? ›
A sample statistic (or just statistic) is defined as any number computed from your sample data. Examples include the sample average, median, sample standard deviation, and percentiles.
Statistics is the science concerned with developing and studying methods for collecting, analyzing, interpreting and presenting empirical data.
What is statistics in one sentence? ›
: a branch of mathematics dealing with the collection, analysis, interpretation, and presentation of masses of numerical data.
What is the main importance of statistics? ›
Statistics is an important field because it helps us understand the general trends and patterns in a given data set. Statistics can be used for analysing data and drawing conclusions from it. It can also be used for making predictions about future events and behaviours.
What are the four types of statistics? ›
Types of Data in Statistics (4 Types - Nominal, Ordinal, Discrete, Continuous)
What are the 5 benefits of statistics? ›
To summarize, the five reasons to study statistics are to be able to effectively conduct research, to be able to read and evaluate journal articles, to further develop critical thinking and analytic skills, to act a an informed consumer, and to know when you need to hire outside statistical help.
Why data types are important in statistics? ›
Data types are an important concept because statistical methods can only be used with certain data types. You have to analyze continuous data differently than categorical data otherwise it would result in a wrong analysis.
What are the five important functions of statistics? ›
Statistics has five major functions, condensation, comparison, forecasting, estimation, and test of hypothesis. Statistics has many functions but the five most important of them are as follows: Condensation: To condense means to lessen or to reduce.
What are the main types of data in statistics? ›
In statistics, there are four main types of data: nominal, ordinal, interval, and ratio. These types of data are used to describe the nature of the data being collected or analyzed, and they help determine the appropriate statistical tests to use.
What is the most important part of statistics? ›
The three essential elements of statistics are measurement, comparison, and variation. Randomness is one way to supply variation, and it's one way to model variation, but it's not necessary.
