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What is Statistics?

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:

  • Mean 
  • Skewness
  • Variance
  • Regression of analysis
  • Kurtosis
  • Analysis of variance

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Importance of Statistics

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.

Statistics is an exciting field about the thrill of discoveries, gaining knowledge, and challenging your assumptions. Bit by bit, we push back the frontier of what is known.

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What is the Major Type of Statistics?

Statistics have majorly categorised into two types:

  1. Descriptive statistics -Descriptive statistics is about organising, representing, and describing data collection using tables, summary measures, and graphs. Statisticians summarise data through the given observations in this type of statistics. 
  2. Inferential statistics -Inferential statistics defines and gives meaning to descriptive statistics. Once the data has been collected, analysed, and summarised, statisticians, use inferential statistics to describe the purpose of the collected data.

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Most Popular FAQs Searched By Students

Question: What is the meaning of the measure of dispersion?

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.

 Question: How do you calculate the standard deviation?

Answer: You can calculate the standard deviation by following these steps:

  1. Find the mean
  2. For each data point, find the square of its distance to the mean.
  3. Sum the values from step 2.
  4. Divide by the number of data points.
  5. Take the square root.

Question: How do you find the variance in statistics?

Answer: Here are the steps for calculating the variance:

  1. Find the mean by adding up all the scores and dividing them by the number of scores.
  2. Find each score’s deviation from the mean
  3. Square each deviation from the mean
  4. Find the sum of squares
  5. Divide the sum of squares by n1-1 or N

Question: Is the measure of central tendency also a type of statistics?

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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