# Tagged: Maths Stats

## Now a write up on stats 3

Inferential statistics helps us in decision making process. Can we decide whether the cement blocks have the required strength from the given test results? Yes or No ?

## Now a write up on stats 2

1.2 Statistical Modeling and Business Statistics for Decision Making.

Statistics can be broadly divided into two categories â€“
1. Descriptive Statistics
2. Inferential Statistics

## 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 â€“ You are making use of â€˜Averagingâ€™ concept of statistics. When you talk of odds in favor of Indiaâ€™s winning a cricket match â€“ You are dealing with â€˜Probabilityâ€™. When you are talking of most selling product â€“ You speak of â€˜Modal Valueâ€™. Weather forecast is also based on statistical analysis of weather conditions collected with the help of Satellite.