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‘Statistics’ may mean data of some sort for a layman but it has a much broader meaning. Statistics are a kind of research methodology, which deals with the collection, analysis, interpretation and presentation of data. It is applicable to a wide variety of academic disciplines, from natural and social sciences to the humanities, government and business.
Statistics plays a very vital role in the formulation of economic plans, estimation of industrial demand and sales figures, maintenance of the quality of products and minimization of inspection costs, forecasting agricultural production and helping studies in the field of genetics. Thus a statistician is well versed in statistical methods and its applications. The numerous applications of Statistics make it knowledge indispensable.
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There are many statistical tools and techniques available, one being descriptive statistics. Descriptive Statistics deals with the methods of organization, reduction, summarization and presentation of data in order to make them amenable to rational analysis and interpretations. The level of complexity of statistical problems varies. It may range from the computation of simple measures like mean, median and mode to computation of standard regression results and complicated forecasts using time series data. Across all college students are often tested on these topics.
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