Statistics concerns with the collection of data, organisation, interpretation, analysis and the data presentation. The main purpose of using statistics is to plan the collected data in terms of the experimental designs and statistical surveys. Statistics is considered as a mathematical science that works with the numerical data. In short, statistics is a crucial process, which helps to make the decision based on the data.
Branches 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 the 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.
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
