What Are Statistics?
Statistics is a numerical discipline which involves collecting, organizing, analyzing, interpreting and presenting data. It is subdivided into two major components; descriptive statistics which describes the characteristics of particular sets of data, or inferential statistics where conclusions/estimates or forecasts/projections are made based on the data. Inferential statistics is also referred to as inductive statistics.
Statistics has become an integral part of our everyday lives and is utilized in every aspect of society. Statistical information and its analysis facilitate informed decision making for individuals as well as establishments whether private or government. For planners and policy makers, statistics provide crucial input into the formulation of plans and policies and allows for their effective monitoring.