Search results
Results from the WOW.Com Content Network
Statistics is the theory and application of mathematics to the scientific method including hypothesis generation, experimental design, sampling, data collection, data summarization, estimation, prediction and inference from those results to the population from which the experimental sample was drawn.
In the early 19th century, collection intensified, and the meaning of "statistics" broadened to include the discipline concerned with the collection, summary, and analysis of data. Today, data is collected and statistics are computed and widely distributed in government, business, most of the sciences and sports, and even for many pastimes.
Statistical inference is the process of using data analysis to deduce properties of an underlying probability distribution. [29] Inferential statistical analysis infers properties of a population, for example by testing hypotheses and deriving estimates.
Statistics subsequently branched out into various directions, including decision theory, Bayesian statistics, exploratory data analysis, robust statistics, and non-parametric statistics. Neyman-Pearson hypothesis testing made significant contributions to decision theory, which is widely employed, particularly in statistical quality control.
Data mining is a particular data analysis technique that focuses on statistical modeling and knowledge discovery for predictive rather than purely descriptive purposes, while business intelligence covers data analysis that relies heavily on aggregation, focusing mainly on business information. [4]
Additionally, there is a substantial number of people who use statistics and data analysis in their work but have job titles other than statistician, [5] such as actuaries, applied mathematicians, economists, data scientists, data analysts (predictive analytics), financial analysts, psychometricians, sociologists, epidemiologists, and ...
The origin of the phrase "Lies, damned lies, and statistics" is unclear, but Mark Twain attributed it to Benjamin Disraeli [1] "Lies, damned lies, and statistics" is a phrase describing the persuasive power of statistics to bolster weak arguments, "one of the best, and best-known" critiques of applied statistics. [2]
Foundations of statistics involves issues in theoretical statistics, its goals and optimization methods to meet these goals, parametric assumptions or lack thereof considered in nonparametric statistics, model selection for the underlying probability distribution, and interpretation of the meaning of inferences made using statistics, related to the philosophy of probability and the philosophy ...