Statistics and Probability

Akash Deep Nov 19 2021 · 1 min read

Statistics

• Statistics is the art of learning from data.
• It involves data collection, describing it, analysis, and ultimately drawing conclusions.
• Datasets

The study of statistics revolves around datasets. Datasets can be either of the following:

Population:

Population includes all the elements in a dataset.

Example:

Collection of objects,persons or things.

Sample:

Samples consist of one or more observations drawn from a population (subset of population).

Example:

Students of Class X in a school.

Probability

• Probability is the likelihood or chance of an event happening.
• Probability theory is a branch of pure mathematics, and forms the theoretical basis of statistics.
• Wikipedia says:

Probability is the branch of mathematics concerning numerical descriptions of how likely an event is to occur, or how likely it is that a proposition is true.

Statistics and Probability in real life

Statistics and Probability play a vital role in daily life, without our knowledge.

Examples:

• Have you ever checked the weather forecast to decide on carrying an umbrella?
• Have you ever felt nervous about a cricket match toss?