Tagged: Maths Stats

Now a write up on stats 3 1

Now a write up on stats 3

Inferential statistics helps us in decision making process. Can we decide whether the cement blocks have the required strength from the given test results? Yes or No ?

Now a write up on stats 2 0

Now a write up on stats 2

1.2 Statistical Modeling and Business Statistics for Decision Making.

Statistics can be broadly divided into two categories –
1. Descriptive Statistics
2. Inferential Statistics

Now a write up on stats I 0

Now a write up on stats I

CHAPTER 1
What is Statistics?

1.1 Introduction.

In our day to day life we deal a lot with statistics, maybe without being aware of it. For example, when you tell your graduation marks – You are making use of ‘Averaging’ concept of statistics. When you talk of odds in favor of India’s winning a cricket match – You are dealing with ‘Probability’. When you are talking of most selling product – You speak of ‘Modal Value’. Weather forecast is also based on statistical analysis of weather conditions collected with the help of Satellite.