Statistics and Probability

What is Statistics

Statistics is a major branch of mathematics that deals with the collection—organization, analysis, interpretation, and data presentation. Statistics is a very crucial subject that is taught in high schools and colleges. John Turkey, one of the great mathematicians from America, termed statistics a science that uses mathematical models as essential tools. What many people may not know is that we use and apply statistics in our every day lives. An example of statistics math is a report that shows the number of a specific gender in a particular region or country.

Statistics uses it companion that is Probability in making predictions. Math statistics today has become one of the essential tools used in many educational disciplines starting from medicine, psychology, engineering, and sociology, to name a few. Due to the realization of how much statistic is worth, many colleges and universities have recorded a high number of students enrolling in statistics courses. Statistic is divided into two major branches which are;

The 2 Branches of Statistics

1 Descriptive Statistics

2 Inferential Statistics

Descriptive statistics

This is a branch of statistics that deals with the collection and presentation of data. This acts as the first step in the statistical analysis. It is very complex, and it requires the utmost attention in doing experiments, correct measures to avoid biased information. Descriptive statistics is divided into four major types which are;

Measures of Frequency: Count, Percent Frequency, etc.

Measures of Central Tendency: Mean, Mode, and Median

Measures of dispersion or Variation: Range, Standard Deviation, and Variance.

Measures of Position: Quartile Ranks, Percentile Ranks.

Inferential Statistics

Inferential Statistics involves drawing correct conclusions from the statistical analysis carried out on the descriptive statistics. Finally, it is the inferences that make study significant, and this is the component that inferential statistics deals with.

When it comes to concluding, one must be very careful to avoid giving out biased information, which could lead to wrong conclusions. Although this looks like a complex science, one can intentionally or unintentionally manipulate the different study or results and come up with unexpected or even at times, expected outcomes.However, this is discouraged, and only the correct number, which is unbiased, is advocated for.

Both inferential and descriptive statistics go hand in hand; they each depend on another. Proper scientific methodologies need to be mathematically followed in both branches. The two branches act as crucial tools for every researcher.

Importance of Statistics

Effective conduction of research: with proper knowledge in statistics, one can collect and analyze the data collected. This helps one to interpret the data collected and recommend a specific decision or action to be taken.

Statistics play a crucial role in efficient and proper planning of statistical inquiry in any field.

Statistics equips one with the knowledge of collecting correct quantitative data.

The presentation of complex data in tabular, diagrammatic, and graphic form requires one to know statistics.

Through quantitative observations, one can understand the nature and pattern variability of a phenomenon.

Statistics is crucial in drawing valid inferences and reliability about the different parameters from a given sample of data.

Probability

Probability is a conceptual theory that is realized by various mathematical formulation that explains the possible chances of an event occurrence. It is best defined as the likelihood that an event will occur. If you have a high affinity toward numbers, then Probability is the best subject to undertake.

Many organizations worldwide use Probability to depict the likely outcome of a specific decision that they will take and possibly both positive and negative consequences in the future. The thirst for employees who are experts in Probability is increasing every day due to the various risks that should be taken in a business.

Types of Probability

Classical Probability

Relative Frequency Distribution

Subjective Probability

Importance of Probability

Gather data by a random mechanism

Probability is used in the prediction of a given tests under experiment.

Probability helps one in the computation of an error that is larger than the given amount.

Probability plays a crucial role in determining whether the assumption given is realistic or not.

Rules of Probability

All probabilities are equal to or greater than zero (0)

All probabilities are equal or less than one (1)

The sum of all probabilities outcome must add up to one

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PROBABILITY STATISTICS HOMEWORK HELP

What is Statistics