Statistics and Its Concepts Supporting Your Academic Work

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Statistics and Its Concepts Supporting Your
Academic Work
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What Do You Understand By Statistics?

• Statistics is said to be the branch of applied
  mathematics that is used in different sectors.
• It is used for collecting, analyzing, and
  inference the conclusion from the quantitative
  data. 
• You might even need the statistics assignment
  help to cover the range it offers.
• The diversity it has is been used by a different
  field. 
• And this is why statistics have been divided into
  types. 

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Type of Statistics

• Two major types of statistics is been used for
  analyzing different functions. 
• The first one is descriptive statistics and it
  focuses on three different functionalities
  supported by the statistics.
• Central tendency, variability, and distribution
  of the sample data is been performed under this
  type of statistics. 
• The second type of statistic is known as
  inferential statistics. 
• It is the type that is been used as a tool by
  statisticians.
• This type can work with a large group of data.
• It is used to conclude the characteristics of any
  sample population participating in any survey or
  study. 

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How Is Statistic Used In Economics And Finance?

• We have mentioned earlier also that statistics
  are used n different sectors.
• Economics and finance also use it for various
  functions.
• Economists use it for collecting and looking into
  the different data talking about the inflation
  growth to GDP growth.
• In finance, the investors use the statistics for
  collecting the data related to the industries,
  market data for price and volume of the different
  products, sentiments, etc. 
• In both fields, inferential statistics are used
  following the concept of econometrics. 
• Econometrics is a whole new level of concepts
  that you might need assignment help to understand
  thoroughly.

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