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The statistics is an extended branch of mathematics which is involved in analyzing, collecting, interpretation, and presentation of data which is further involved in an act of organizing the data.
The usages of statistics are widely enlarged to solve various scientific, mathematical, industrial and socio problems. The statistical model plays a role which is further indulged to solve such problems. It is wise to seek an expert for statistics assignment help and get in-depth analysis of statistics and deep understanding accordingly.
The descriptive statistics has the ability to judge and conclude the data in a descriptive form to further outline a structure of an experiment. The statistics which is descriptive in nature has an ability to judge and explore data along with the analysis of data to verify and conclude the precise data.
It is considered to be a method to conclude an experiment or a survey with an approximate result. It is also considered to be a method of undertaking a survey. However, the conclusion may change according to the final derivation of the date. It does not permit or allow to implement any data without any analysis or experimentation. It has the ability to explore facts and findings related to the survey and can proceed to the conclusion of a survey.
The elucidation of data is also required by the descriptive statistics. The descriptive statistics has the capability to derive the performance or the overall count of people or group or any data which represents a group. The descriptive form of statistics also contributes to finding raw data. The raw data are analyzed and then represented in a significant way. Availing statistics assignment help from the experts of Livewebtutors can guide you with more information about it.
It is the technique involved to derive data from a smaller group of population in relation to find the actual data related to a larger group. The information derived from the smaller group is stated to be derived with a method of statistics known as inferential statistics.
The inferential statistic is the method to derive information from a smaller group as in terms of a sample where the derivation of information from a large group is difficult. It is the strategy to consider an approximate result of a large group by analyzing the data of a smaller group which is actually a part of larger group or population.
The collection of data which is used to gather information from a smaller group caters the possibility of error. The information which is sampled from a smaller group is the method to generalize the information to give better output. There are two methods which are involved in the mining of data such as an estimate of parameters and testing of statistical hypothesis.
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Collecting, analyzing, interpreting, presenting and organizing the data in known as astatistical study. Statistics can interpretaggregates of datatoo large to be intelligible byordinary observation because such data tend to behave in regular, predictable manner.
The role of statistics is very important in all human activities. To determine the unemployment, growth rate, per capita income, population growth rate etc… of a country, statistical methods are used. In all the industries be it trade, commerce,economics, biology, physics etc… statistics are applied to all the fields of various subjects.
BUSINESS– To check the quality of the products, to analyze consumer’s taste and preference and to plan the production, statistics help the businessman. It is all possible because of the statistical methods. Every activity which a businessman has to do is based on the statistical information. Hence, correct and effective decisions can be taken by the businessman.
ECONOMICS– The subject economics depends upon statistics. National income accounts are multipurpose indicators for the economists and administrators. Statistical methods are used for the preparation of these accounts. Exports and imports, inflation rate, national income, per capita income all includes the statistical studies through statistical methods.
MATHEMATICS– In order to describe the measurements more precisely, statistical studies are used. The various topics used in mathematics like – estimation, averages, probability, etc… include a large number of statistical methods. And the techniques of pure mathematics like – algebra, differentiation, integration are used in statistics.
ACCOUNTING- For decision making the purpose, so much precision is not essential the decision may be taken on the basis of approximation, know as statistics. The correction of the values of current asserts is made on the basis of the purchasing power of money or the current value of it. In auditing sampling techniques are commonly used. An auditor determines the sample size of the book is audited on the basis of error.
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Statistics is a branch of mathematics that deals with data and its interpretation such collection, interpretation, analysis, and presenting in a required format. Generally, it is of two types; Descriptive Statistics, and Inferential Statistics. Both the types cover analysis, summarizing, and providing a description of data along with drawing conclusions from the sample size.
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