Statistics can be defined as the study of mathematical functions that leads to collection, analysis, interpretation or explanation and presentation of data in order to summarize the data. Statistics can be divided into two categories i.e. describing the data and analyzing the data. Statistics helps in the proper and efficient planning of a statistical inquiry in different fields. It can be used in analyzing the nature and pattern of variability with regards to quantitative observation. It helps in presenting the complex data in a tabular, diagrammatic and graphic form, which is easy to understand. It is often used to make predictions based on the data. Statistics is widely applicable in various fields such as insurance industry, banks, accounting etc.
The main topics which come under statistics are probability, regression analyzes, linear equation on one variables, mean, median, and mode. The subject becomes very complex as a great level of in-depth knowledge along with analytical skills is required to understand the subject clearly.
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