Statistics Assignment Help

Pushkar Nandgaonkar
May 14, 2022
2 min read

Updated: May 16, 2022

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What is Statistics

Collection of Methods for arranging experiments, collecting data, organising, summarising, presenting, analysing, interpreting, and drawing conclusions are all included. Statistics is a collection of methods for gathering, organising, analysing, and interpreting data. The information could be quantitative. Statistics is used in business to assist make better decisions by identifying the sources of variation and uncovering patterns and linkages in business data by tabulating attributes such as consumer preference.

When census data cannot be available, statisticians construct specific experiment designs and survey samples to acquire data. Representative sampling ensures that inferences and conclusions drawn from the sample can be extrapolated to the entire population. An experimental study is taking measurements of the system under investigation, altering it, and then taking other measurements using the same process to see if the alteration has changed the measurements' values. An observational study, on the other hand, does not entail any experimental modification.