In Maths, Statistics is a method of interpreting, analysing and summarising the data. Hence, the types of statistics are categorised based on these features: Descriptive and inferential statistics. Based on the representation of data such as using pie charts, bar graphs or tables, we analyse and interpret it.
Statistics is the application of Mathematics, which was basically considered as the science of the different types of state. For example, the collection and interpretation of data about a nation like its economy and population, military, literacy, etc.
In terms of mathematical analysis, the statistics include linear algebra, stochastic study, differential equation and measure-theoretic probability theory.
Types of Statistics in Maths
Statistics have majorly categorised into two types:
- Descriptive statistics
- Inferential statistics
In this type of statistics, the data is summarised through the given observations. The summarisation is one from a sample of population using parameters such as the mean or standard deviation.
Descriptive statistics is a way to organise, represent and describe a collection of data using tables, graphs, and summary measures. For example, the collection of people in a city using the internet or using Television.
This type of statistics is used to interpret the meaning of Descriptive statistics. That means once the data has been collected, analysed and summarised then we use these stats to describe the meaning of the collected data. Or we can say, it is used to draw conclusions from the data that depends on random variations such as observational errors, sampling variation, etc.
Inferential Statistics is a method which allows us to use information collected from a sample to make decisions, predictions or inferences from a population. It grants us permission to give statements which goes beyond the available data or information. For example, deriving estimates from hypothetical research.
In a class, the collection of marks obtained by 50 students is the description of data. Now when we take out the mean of the data, the result is the average of marks of 50 students. If the average marks obtained by 50 students is 88 out of 100, then we can reach to the conclusion or give the judgement on the basis of the result.
Uses of Statistics
- Statistics executes the work simply and gives a transparent picture on the work we do regularly.
- The statistical methods help us to examine different areas such as medicine, business, economics, social science and others.
- Statistics equips us with different kinds of organised data with the help of graphs, tables, diagrams and charts.