Now a write up on stats I

CHAPTER 1
What is Statistics?

1.1 Introduction.

In our day to day life we deal a lot with statistics, maybe without being aware of it. For example, when you tell your graduation marks — You are making use of ‘Averaging” concept of statistics. When you talk of odds in favor of India’s winning a cricket match — You are dealing with ‘Probability”. When you are talking of most selling product — You speak of ‘Modal Value”. Weather forecast is also based on statistical analysis of weather conditions collected with the help of Satellite.

Statistics is a mathematical science pertaining to the collection, analysis, interpretation or explanation, and presentation of data. It is applicable to a wide variety of academic disciplines, from the physical and social sciences to the humanities. Statistics is also used for making informed decisions.

Statistics can be used in singular and plural sense. When used in singular sense it describes a discipline, a subject. e.g. BBA semester I has one subject as Statistics. When used in plural sense, it denotes the results obtained from the data. e.g. What are the export statistics? Here you are interested in statistical data related to exports.