Statistics is the science and practice of developing human knowledge through the use of empirical data expressed in quantitative form. Statistics is generally regarded as a distinct mathematical science rather than a branch of mathematics.
The statistical analysis involves the process of collection and analysis and synthesis of data in digital form of the data. Statistics provides tools for prediction and forecasting using data and statistical models. Statistics is applicable to a wide variety of disciplines such as finance, insurance and economy. The advent of advanced statistical techniques and software has expanded the scope of the statistics in other areas.
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