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Meaning of Statistics
Data which relates to science is known as statistics. It enables the analysis, collection, presentation and understanding of data. To summarize the data for finding in a meaningful way is known as descriptive statistics, instead of using all set of data it is easier to used the summarised one. Statistics has different meaning in different subject i.e. its different in english, maths, science etc.
Purpose of Statistics
Statictics helps us to compare the given set of data so that it can be used by the user for meaningful changes and trends. Its helps to reach a conclusion of there meaning.
Statistics Steps of Investigations
1. Collection of data:- It is the first steps of doing investigation and its collects the data. The data are collected after deciding the method of collection.
2. Organisation of data:- After collecting the data as per above steps the next step is to organise it . This steps helps in to organise the data in a simplified and standard manner.
3. Presentation of data:- After collecting and organisation the data the next step is presentation. Generally data are present via graphs, diagram, tables etc.
4. Analysis of data:- As the data is already presented the next step is to analyse it. Analysis of data is most important part for achieveing any result. Analysis can be done via various methods such as dispersion method, regression, correlation, central tendecies, interploation etc.
5. Interpretion of data:- As the data is already analysed the next steps know is to interpreate it. Forecasting is made with the help of interpretation.
The various measures of statistics online is as follows
Mean: – An average of a given set of numerals. A mean can be calculated in a numerous ways for the given set of data which shows how a securities had perform during a specified interval.
Regression Analysis:- Regression analysis is used during dependent variable to know which independent variable had a relation with dependent variable. Its also used for causal relationship among the independent and dependent variables.
Skewness:- The size of the two tails are measured with the help of skewness.
Kurtosis:- The total size of the two tails are measured with the help of kurtosis. In the tails how much is the probality of the amount is also measured with the help of kurtosis.
Variance:- The investor risk for a given investment is analsye with the help of variance.
Analysis of variance:- Ronald fisher developed the method of analysis of variance. Various performance can be compare of the different stock with the help of variance analysis.
Statistics assignment online help in solving various projects. Statistics helps in developing human knowledge with the help of data which is expressed in quantitative form. Statistics analysis helps in collecting and analysing data after that it summarize it for the final result, the data which is summarised is presented in a numerical form.
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