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Figuratively, statistics is a way of separating the suggestive from the vital - it is the delicate dissections of uncertainties and the surgery of suppositions.
Statistics is the science of mining numerical data in ample quantities (suggestive) from those in a representative sample (vital).
The field studies methodologies to gather, review, analyse and draw conclusions from data. Some statistical measures include the following:
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This section will cover two significant reasons studying statistics is crucial in modern society.
First, statisticians are guides for learning from data and navigating common problems that can lead you to incorrect conclusions.
Second, given the growing importance of opinions and decisions based on data, you should critically assess the quality of analyses that others present to you.
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Statistics have majorly categorised into two types:
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Answer: A measure of dispersion indicates the scattering of data. It describes the disparity of data from one another, delivering an accurate view of their distribution.
Answer: You can calculate the standard deviation by following these steps:
Answer: Here are the steps for calculating the variance:
Answer: Yes. The measure of central tendency is also known as summary statistics.
A measure of central tendency is a single value that attempts to describe a set of data by identifying the central position within that set of data.
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