5 Questions
What is the Singular Sense of statistics?
Scientific method used for collecting, analyzing and presenting data
Where did the word 'statistics' originate from?
Latin word – Status
What is a limitation of statistics?
Relevant for aggregate data and not individual data
Which field uses statistics for Time Series analysis and regression analysis?
Economics
What does 'inferences' mean in the context of statistics?
Conclusion reached on the basis of evidence and reasoning
Study Notes
Definition of Statistics
- The singular sense of statistics refers to the mathematical science that deals with the collection, analysis, interpretation, presentation, and organization of data.
Origin of the Word 'Statistics'
- The word 'statistics' originated from the German word 'Statistik', which means "the science of state affairs".
Limitations of Statistics
- One limitation of statistics is that it can be misused or misinterpreted, leading to incorrect conclusions or decisions.
Applications of Statistics
- The field of Economics commonly uses statistics for Time Series analysis and regression analysis to understand and forecast economic trends and patterns.
Inferences in Statistics
- In the context of statistics, inferences refer to the process of making informed decisions or conclusions based on a sample of data, about a larger population or phenomenon.
Test your knowledge of statistical methods and data analysis with this quiz. Learn about the scientific method used for collecting and analyzing data, drawing statistical inferences, and reaching conclusions based on evidence and reasoning.
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