OVERVIEW:

Statistics is a form of mathematical analysis that uses quantified models, representations and synopses for a given set of experimental data or real-life studies. Statistics studies methodologies to gather, review, analyze and draw conclusions from data.

Statistics is a term used to summarize a process that an analyst uses to characterize a data set. If the data set depends on a sample of a larger population, then the analyst can develop interpretations about the population primarily based on the statistical outcomes from the sample. Statistical analysis involves the process of gathering and evaluating data and then summarizing the data into a mathematical form.

Statistics is used in various disciplines such as psychology, business, physical and social sciences, humanities, government, and manufacturing. Statistical data is gathered using a sample procedure or other method. Two types of statistical methods are used in analyzing data: descriptive statistics and inferential statistics. Descriptive statistics are used to synopsize data from a sample exercising the mean or standard deviation. Inferential statistics are used when data is viewed as a subclass of a specific population.