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Question:
Explain the concept of statistics ? And why do we need to study statistics?
Answer:

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.

According to Merriam-Webster dictionary, statistics is defined as classified facts

representing the conditions of a people in a state  especially the facts that can be

stated in numbers or any other tabular or classified arrangement.

According to statistician Sir Arthur Lyon Bowley, statistics is defined as Numerical

statements of facts in any department of inquiry placed in relation to each other.

Mathematical statistics is the application of mathematics to statistics, which was

originally conceived as the science of the state  the collection and analysis of facts

about acountry: its economy, and, military, population, and so forth.

Mathematical techniques used for this include mathematical analysis, linear algebra,

stochastic analysis, differential equation and measure-theoretic probability theory.

 

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