The term or the subject statistics is enough to disrupt a student’s vibrant life. Statistics is an area of mathematics dealing with data gathering, organization, presentation, analysis, and interpretation. Statistics is split into two types: descriptive statistics and inferential statistics. Both are used in scientific data analysis and are equally important for statistics students. In today’s world students are equally stressed as they have multiple projects and assignments to be submitted before the deadline. Homework from school and parental pressure are also some of the factors that affect a student’s life. They have to balance their school or college life, social life, and if they are working, then also their work life. If a student can balance all his responsibilities then it’s perfect but everyone knows that each student is different. So to deal with all the hassle students look for statistics assignment help.
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Why is Statistics Important?
People use statistics to make financial planning and budgeting decisions in their day-to-day life. organizations use statistics to make financial policy decisions. Banks utilize statistics to reduce risk in lending, study financial market activity, and predict the impact of economic crises. For this, they might also use bar graphs and pie charts, etc.
Branches of Statistics
According to the experts, the following are the two main branches of statistics-
- Descriptive Statistics – It is defined as a branch of statistics that helps in illustrating and summarising the essential characteristics of a dataset observed in specific research and is presented in a summary that describes the data sample and its measurements.
- Inferential Statistics – By analyzing the samples obtained from the population data, inferential statistics helps to gain a detailed understanding of it.
Frequency Tables, Pie Charts, and Bar Charts
Statistical assignment help from broforstudy also includes Frequency Tables, Pie Charts, and Bar Charts which are some of the components in statistics in order to display all possible variables.
- Frequency Tables: A frequency distribution table is a complete means of displaying the organization of raw data for a quantitative variable in statistics. There are two types of frequency table distribution i.e. Discrete frequency distribution and Continuous frequency distribution (Grouped frequency distribution).
- Bar Graph: A bar graph is a type of graph that shows entire data with rectangular bars whose heights are related to the values they represent. The bars can be shown vertically or horizontally. Bar graphs are graphical representations of categorized data.
- Pie Chart: A pie chart is a circle that is split into sections, or slices. Each slice shows the number or percentage of observations of a particular level for the variable. In business, pie charts are frequently utilized in Powerpoint presentations.
Mean, Median & Mode
Mean, Median & mode are the terms that are used in statistics often. It includes organizing the data and consists of a lot of calculations which can be a little tricky for the students. But broforstudy can help you to clear all your doubts associated with the subject
Mean: The mean reflects the average of the given set of data. It works with both continuous and discrete data. There are three methods by which you can easily calculate the mean for any given data.
1. Direct method- The formula of the Direct mean method is ∑i=1nfixi
2. Assumed mean method- The formula of the Assumed mean method is Mean ( x ¯ ) = a + h ∑ f i u i ∑ f i
3. Step deviation method- The formula of the Step deviation method is Assumed Mean = A + ∑di fi / ∑fi
Median: The median is the number that is the midpoint of a series of numbers. In order to find out a median we have to arrange the number by size and the number that is in the centre is the median. The formula for median is {(n + 1) ÷ 2}th, where “n” is the number of items in the set and “th” just means the (n)th number.
Mode: The mode is the number that is the most frequent and is repeated more than the other numbers. The formula of mode is Mode = L+h(fm−f1)(fm−f1)−(fm−f2) L + h ( f m − f 1 ) ( f m − f 1 ) − ( f m − f 2 ), where h refers to the size of the class interval.
Top 5 Universities To Study Statistics
Below are some of the best universities in the world that helps students to study statistics-
- Harvard University
- University of Oxford
- Yale University
- Northwestern University
- McGill University
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