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STATISTICS IS THE GRAMMAR OF SCIENCE
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Statistics is a branch of mathematics that deals with data collection, organization, analysis, and interpretation. Statistics is bundled chiefly with math courses, but it is more accurately viewed as applied science. Statistics is used to evaluate scientific data in many fields, such as healthcare and psychology. It’s an instrumental skill to have no matter what career path you choose, so there’s no better time than now to get started.
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Statistics has three main components: Data collection and measurement, data analysis, and the presentation of conclusions drawn from the collected data. Businesses use statistics extensively to gather information about their customers.
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Statistics is essentially the collection, analysis, interpretation, presentation, and organization of data. It is a mathematical science that deals with the inference of information from data. In other words, it allows us to make sense of data to answer meaningful questions. Statistical methods are used in many fields, including biology, economics, engineering, marketing, astronomy, and psychology. In today’s business world, data is king. The insights gleaned from data can tell us everything from who our customers are to what they want and need. As a result, businesses of all sizes are increasingly turning to advanced statistics to help them make better decisions.
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- Statistics – The collection, analysis, and interpretation of data
- Regression Analysis – A technique used to predict future outcomes based on past data
- Time Series Analysis – A method of analyzing data that changes over time
- Survival Analysis – A branch of statistics that deals with the analysis of data that represents the time until an event occurs
As big data evolves, so too must the field of statistics in order to analyze it. This involves the development of new methods and models to account for the vastness, complexity, and heterogeneity of big data. Additionally, statisticians need to be able to effectively communicate with business people in order to understand their needs and apply the most relevant techniques. The growing demand for statisticians who can work with big data will result in increased salaries and opportunities in this field.
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What is a standard deviation? Standard deviation is the measure of how variation occurs in a data set centered around the mean or average. The bigger the standard deviation, the more variation there will be.
Think about it this way: put 100 marbles in a large jar with space to spare and shake it up so they are gathered into one big clump at one end of the jar; now fill it up halfway with marbles and shake again; finally, fill it up with marbles until there’s no space left. Everyone’s gone down to the same end of the jar, and they’ve also packed in as tightly as they can. Each time you shook the jar you increased the variation; that is, there are more ways for marbles to be distributed in a jar filled halfway than there are for all 100 marbles to be packed at one end of a full jar. This is why each step made your standard deviation bigger: because it gave more room (variation) for each marble to move around.
Standard deviation is a statistic that measures how much variation occurs in a data set. It gives you information about your data set in general; it doesn’t focus on any one data point. It’s a measure of the center of your data set: how spread out are the data points?
Think about what happens when you have a low standard deviation. Your marbles are packed into one end of the jar, and they’re pretty well packed in there – maybe they aren’t touching, but they’re close. This means that if you take any marble out at all, it’s probably going to be pretty close to where most of the marbles are; probably in the middle. In other words, a low standard deviation makes it more likely that you can predict where most of your data points will fall.
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What Stats is All About: Statistics is the science that describes and interprets the collection, organization, classification, and representation of numerical data. In other words, we study data to gain valid conclusions. Many believe that statistics is just a dull set of rules that cannot apply to their lives. However, the truth is that everything you do or encounter daily has some statistical factor.
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What are some of the most challenging statistics homework questions?
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Statistics give us a lot of data with simple explanations on how to interpret them. Here’s a list of the statistics topics that we’ve covered so far:
Common Statistics Assignment Questions:
Descriptive Statistics.
Probability & The Normal Distribution
Sampling & Population
Correlation and Regression Analysis
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