Statistics

Definition

Statistics is the science of collecting, analyzing, interpreting, presenting, and organizing data. It uses mathematical theories and methodologies to draw conclusions from data.

5 Must Know Facts For Your Next Test

1. Statistics consists of two main branches: descriptive and inferential statistics.
2. Descriptive statistics summarizes data using measures such as mean, median, mode, and standard deviation.
3. Inferential statistics makes predictions or inferences about a population based on a sample of data drawn from that population.
4. The reliability of statistical inferences often depends on the size and randomness of the sample used.
5. Probability theory underpins many statistical methods and helps quantify the likelihood of different outcomes.

Review Questions

• What are the two main branches of statistics?
• Why is sample size important in inferential statistics?
• How does probability theory relate to statistics?

Related terms

Descriptive Statistics: A branch of statistics that involves summarizing and organizing data so it can be easily understood.

Inferential Statistics: A branch of statistics that involves making predictions or inferences about a population based on a sample.

Probability: A measure quantifying the likelihood that events will occur, foundational to many statistical methods.