Statistics

Statistics is the Science that collects data, describes them in a useful and simple way, analyzes them and interprets those data with the help of the Probability Theory.

When analyzing data, it is possible to use one of two statistics methodologies: descriptive statistics or inferential statistics.

- Descriptive statistics collects data, organises them in tables or graphs and calculates the parameters

- Inferential statistics makes conclusions from the data by using the Probability Theory

Inferential statistics is divided into:
 
–Inductive statistics which aims to estimate the parameters of a population either by using a single value (point estimation) or by using an interval (interval estimation)
 
–Deductive statistics tries to check if the information given by the sample matches the statistical hypothesis formulated by a statistical hypothesis test
 
In this unit we are going to see the point estimation. To do it, we have to distinguish the sample statistics and population parameters:
 
–Population parameters or parameters are the measures of location and dispersion of the population
 
–Deductive statistics or statistics are the measures of location and dispersion of the sample and they depend on the sample. We use the sample mean, , and the standard deviation of the sample, s
 
 

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