Statistics ,types of statistics, and basic definitions | basics of statistics

 Statistics is a science and art that consists of methods and techniques used to collect, present, summarize, analyze and interpret the data. 

Types of statistics: 

Two main types of statistics are: 

i - Descriptive statistics

In descriptive statistics, we deal with the collection of data, its presentation in various forms such as tables, graphs, and diagrams, and finding averages and other measures which would describe data.

For example:

Businesses make use of descriptive statistics in presenting the annual reports, final accounts, and bank statements.

Source: geekforgeeks.com

ii - Inferential statistics

In inferential statistics, we study techniques used to analysis of data, make estimates and draw conclusions from limited information taken on a sample basis and test the reliability of estimates.

                                                              Source: geekforgeeks.com

SOME BASICS DEFINITIONS RELATED TO STATISTICS ARE:

Population

The population is a collection of objects or units about which we want to know something or draw an inference. 

The population may be finite or infinite.

Sample

A subset of the Population which represents the entire population is called a sample.

Is a representative part of the population. 

A sample is denoted by s and its size by n.

Parameter 

A numerical value that describes the characteristics of a population is called a parameter. 

A parameter is a fixed quantity.

Statistic

A numerical value that describes the characteristics of a sample is called a statistic.

A statistic is not fixed it may change with selecting different samples.