Statistics

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What do you mean by statistics?

Statistics is a quantitative science of data collection, analysis, interpretation, and presentation. Statisticians increase the worth of data through different design tests and sampling. Statistics through statistical models also provide tools for estimates and predictions. Statistics is related and applicable to an extensive variety of educational departments, government and businesses.

When did statistics start?

The history of modern statistics is that it invents from the statistical term, found in Germany in 1749, while the meaning of these words has changed over time. Data development, on the one hand, has been linked to the development of supreme states, particularly the European countries following the peace of West Philia (1648). And on the other hand with the progress of probability theory, which keeps the data on a stable theoretical basis.

Where statistics are used?

The methods of statistics are usually used in business activities, for example, to predict the demand for goods and services and ascertain the most proficient method of operation. Uses statistical methods to gauge the level of equity risk and set the finest rates for the insurance and industries of pension.

Who is the father of statistics?

A British Statistician Sir Ronald Fisher (1890-1962) is the father of statistics who is known for his contribution towards the experimental design genetics of populations. He is also recognized as a father of the modern age of statistics.

Why do we need statistics?

Statistics become more important in today’s modern life. People collect data through research and using statistical tools in order to make sense and get facts from these data.

How are the statistics used in everyday life?

Studies of statistics play a very important role in everyday life. Statistics is the study of conducting about any specific topic by collecting data and interpreting and presentation of that data.

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