Summary Statistics

Statistics is used to conduct research, evaluate outcomes, develop critical thinking and make informed decisions about a set of data. The main purpose of statistics seeks to provide an analysis of quantitative data. The principles of statistics also provide guidelines for conducting surveys. Statisticians know how to gather information while avoiding bias and using a random sample. There are a variety of benefits of studying statistics. It improves ability to identify and communicate patterns and outcomes. Learning statistics also incorporates the use of probability. Businesses and individuals can use statistics to calculate the probability of their desired outcome and evaluate whether the probable benefits outweigh the cost. This cost-benefit analysis can improve decision-making and reduce losses. Statistical inference is a calculation that uses data analysis to infer the root causes, effects and properties of a correlation or statistical trend. Statistical models can offer more accurate projections of sales, results and returns. Statistics focuses on a cause-and-effect relationship between variables.

Autorentext
Dr. M.K. Hasan is an Associate Professor of Mathematics at Bangladesh University of Business and Technology. He has been serving as a university teacher for about 18 years. He is a prominent researcher globally especially in the field of Fuzzy Mathematics. He has got his Ph.D. in Picture Fuzzy Set. His interested research areas are GA, AI, ANN etc.