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What is Statistics?

Statistics refers to science as well as practice to develop human knowledge by using empirical data expressed in a quantitative form. It usually considers a different mathematical science slightly than a mathematics branch. Statistical analysis includes collecting and analyzing the data and formerly summarizing data into numerical form.

Statistics use tools for prediction and forecasting by using data and statistical models. The field is valid for various "academic disciplines" such as Insurance, Economics, and Finance.

Example of Statistics

To know about statistics adequately; let's read the example mentioned below"

Assume that we have to collect data from a thousand students group. The data we collect includes their marks in various subjects.

Now we need to determine how many students Population have obtained below-average grades. To complete this calculation correctly, we have to take the help of statistics.

Types of Statistics or Methods Of Statistics


This area is a way of summarizing and interpreting the collected data in a pattern form. But it narrows down to conclude the information we collected or presented. Henceforth, applying descriptive statistics needs two types of statistical ideas: first is the measure of the spread, known as a graphical summary.

The graphical summary practices the graphical image to analyze the data. Another idea is the measure of the central tendency, known as a numerical summary. In the numerical summary, the mean, mode, median, and quartile are used to analyze a given data.


Inferential Statistics is a study for equating/inferring the data with general conditions. Thus, it shows a difference between descriptive statistics and inferential statistics. It is used in a wide area of statistical study. Henceforth, the method used is a testing hypothesis, sample, regression, and principal component analysis.

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Statistical analysis includes collecting as well as analyzing the data and formerly summarizing data into numerical form. Large populations of students pursuing the statistics course at their graduation and post-graduation level find it quite hard for them to complete their statistics assignments on time. Don’t worry! Getting excellent services from our statistics assignment helps experts to learn more about the concept of statistics. Our Advanced Level experts are accessible 24*7 for your help.

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CES734 Assessment Answers ECO 4000 Assessment Answers
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