What is Statistics

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Statistics is used to organize and analyze data. Data can be in any one of the form. For example after an examination a student is awarded with a percentage (from 0 to 100) which is equivalent to a particular grade like A > 90%, B > 75%, C > 65%, D > 50%, E > 35%, F ≤ 35%. Grading system with respect to the percentage is done by some researchers.

Statistics is also used for the purpose of prediction. Prediction is done by each and every individual at some point of life. In other words, if students of Mathematics start their class with reading formulae for 10minutes everyday for half of the semester then the students will have made a prediction about reading of the formulae in Mathematics class.The person is not sure that the same things will occur again instead he can just expect the same things will happen.

Where is Statistics used?
  • Biology and social sciences
  • Finance
  • Manufacturing
  • Marketing research
  • Management
  • Biotechnology
  • Computing

The main goal of statistics is to study and to draw a conclusion from the changes occurred in the values of independent variables (prediction) on dependent variables (response). Observational and experimental are two major types of studies.

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