Statistics are equally beneficial for the economy and human being
Statistics are equally beneficial for the economy and human being Statistics is a branch of mathematics that deals with collecting, analyzing, interpreting, and presenting data. It involves the use of mathematical and statistical methods to summarize and describe data, make predictions and generalizations, and test hypotheses. The main goal of statistics is to make sense of large amounts of data by identifying patterns, relationships, and trends, and using this information to draw conclusions and make the right time decisions. Statistics is used in many fields, including business, medicine, engineering, social sciences, computer, information technology and natural sciences. Some common statistical methods include probability theory, hypothesis testing, regression analysis, and sampling techniques. The history of statistics dates back to ancient times, with the earliest records of statistical methods found in ancient India, China, Egypt, and Rome. In China, the Book of Changes, also