Getting Started With Statistics

Statistics is the discipline that involves the collection, organization, analysis, and interpretation of data. Its application is in every aspect of modern life, from predicting how many points a team will score in a game to measuring the accuracy of drug tests. It is used in the sciences, business, engineering, humanities, social science, finance, and government.

Statisticians study the characteristics of a group that is too large to be observed individually (called a population). They can gather and observe enough information about this sample to make educated guesses, called inferences, about the population as a whole. This allows them to make decisions and take action based on the results of a limited amount of work.

Statistics helps us understand how things work and provides a framework for making informed decisions in all aspects of our lives. This can be as simple as analyzing the odds of your favorite team winning a championship before placing a bet, or as complex as evaluating whether or not you're being charged comparatively more for a product.

Often, the best way to get started with statistics is with a basic class such as Business Statistics at the undergraduate level. This course typically covers descriptive statistics (collecting, describing, and summarizing data) as well as inferential statistical techniques like hypothesis testing and confidence intervals. It may also include more advanced topics such as time series analysis, linear regression, and decision trees. These courses usually also include rigorous design of experiments and advanced statistical inference models.