Statistics can be regarded as one of the most essential as well as richest branches of mathematics which are utilized and employed for dealing with data collection, analysis, organization, monitoring, supervision, and presentation. It can be also reckoned as the enforcing of various techniques performed or conducted upon raw data to make it more perceivable.
Statistical models are also applied to social, industrial, and scientific problems and difficulties by interpreting data. However, it largely caters to the discipline of finance, insurance, and economics.
The two major classifications of Statistics are respectively; Descriptive Statistics which utilizes descriptive coefficient for the summarization of a given data set. This field of statistics is primarily utilized by researchers and analysts for developing an idea about the features of the specific data. The other classification is inferential statistics which is utilized for making inferences about a larger population from where a sample can be drawn.
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Statistics Assignment Help: Our Covered Topics –
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