The word statistics refers in common usage to numerical data but it has an additional meaning that is more specialized. Statistics also refer to the methodology for the collection, presentation and analysis of data and for the use of such data.
The collection and summarization of data are important first steps in the process of using data for analysis and decision making. The statistical methodology for analyzing data and making decisions is called statiscal inference. The logical foundation of statistical inference is the mathematical theory of probability. We define probability as the likelihood that a given event will occur relative to all other events that can occur. We usually define probabilities based on the number or frequency with which events can occur.
The collection and summarization of data are important first steps in the process of using data for analysis and decision making. The statistical methodology for analyzing data and making decisions is called statiscal inference. The logical foundation of statistical inference is the mathematical theory of probability. We define probability as the likelihood that a given event will occur relative to all other events that can occur. We usually define probabilities based on the number or frequency with which events can occur.
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