Statistics

Statistics is the study of the collection, analysis, interpretation, presentation, and organization of data. In other words, it is a mathematical discipline to collect, summarize data. Also, we can say that statistics is a branch of applied mathematics.

Descriptive Statistics

• Descriptive statistics are brief informational coefficients that summarize a given data set, which can be either a representation of the entire population or a sample of a population. Descriptive statistics are broken down into measures of central tendency and measures of variability (spread).



Inferential Statistics

• Inferential statistics involves the use of a sample (1) to estimate some characteristic in a large population; and (2) to test a research hypothesis about a given population. To appropriately estimate a population characteristic, or parameter, a random and unbiased sample must be drawn from the population of interes



Confidence Interval

• A confidence interval is the mean of your estimate plus and minus the variation in that estimate. This is the range of values you expect your estimate to fall between if you redo your test, within a certain level of confidence. Confidence, in statistics, is another way to describe probability.



Probability

• Probability And Statistics are the two important concepts in Maths. Probability is all about chance. Whereas statistics is more about how we handle various data using different techniques. It helps to represent complicated data in a very easy and understandable way.



Probability Distribution

• In probability theory and statistics, a probability distribution is the mathematical function that gives the probabilities of occurrence of different possible outcomes for an experiment. It is a mathematical description of a random phenomenon in terms of its sample space and the probabilities of events.



Common Distributions

• In nearly all investment decisions we work with random variables. The return on a stock and its earnings per share are familiar examples of random variables. To make probability statements about a random variable, we need to understand its probability distribution. A probability distribution specifies the probabilities of the possible outcomes of a random variable.



Software

• Statistical software has become a very important tool for companies to perform their data analysis. The software uses Artificial Intelligence and Machine Learning to perform complex calculations, identify trends and patterns, and create charts, graphs, and tables accurately within minutes.



Visualization

• Data visualization is the representation of data through use of common graphics, such as charts, plots, infographics and even animations. These visual displays of information communicate complex data relationships and data-driven insights in a way that is easy to understand.