Branches of Statistics

What is statistics?

Statistics is a discipline concerned with the collection, analysis, interpretation, and presentation of data. In general, this branch of mathematics involves several fields. The entire statistical process uses various analytical tools to understand to grow as a statistician. Getting help with statistics homework will equip you with the skills you need to achieve your ultimate goal as a statistics student.

Branches of statistics

Statistics has branches, and you need to understand as a student to understand the different components of statistical analysis. Such understanding will enable you to have a wholesome knowledge of the discipline. The various branches of statistics work together by building on each other. This makes your understanding of each of them vital. Seeking statistics homework help online can be the difference between developing aptitude in the areas described below or not.

1. Descriptive Statistics

This branch of statistics is concerned with the initial collection and analysis of data. It analyzes data sets and summarizes them in a manner that leads to the emergence of patterns. In descriptive statistics, you don’t draw conclusions based on anything other than the patterns that emerge from the data sets. It also doesn’t involve findings based on the hypothesis you are trying to prove or disprove.

Business decisions today generate incredibly high volumes of data. They can only use this data for meaningful decision-making if they analyze it properly. Descriptive statistics is the first step you take towards this analysis and in making deductions based on.  You can therefore describe this branch of statistics as one that enables us to present data meaningfully. Descriptive statistics accomplishes two purposes.

1. It measures central tendency and
2. It measures spread.

• Measuring of Central Tendency

The measuring of central tendency helps you to see the general trend of the values in question. This general tendency is best seen when you determine how the figures tend towards the center. The following are the three ways you determine central trends.

1. Mean

This is the most common method of determining central tendency. You compute the mean by adding up all the values and dividing them by the number of values. In standard terms, the mean is referred to as average.

2. Median

This is the figure found in the middle of values when you arrange the data in question from the highest to the lowest.

3. Mode

This is the value that appears most often within a set of values.

You can learn more about finding and applying these in studies and your work as a statistician through online statistics homework help.

• Measuring of Variability

Common examples of measures of variability include standard deviation, quartiles, variation, and range. They help you to analyze the spread of distribution in the dataset in question.

2. Inferential Statistics

This is another branch of statistics that allows you to make inferences from the data you have gathered. These predictions come in handy when making decisions concerning a segment of the population about whom you collected the data.

There are various types of calculations used in inferential statistics as follows.

• Regression Analysis: These calculations help predict future occurrences between a ‘target’ and a ‘predictor.’ The target is dependent while the predictor is a more independent valuable. You can use one target in a regression analysis calculation against many predictors.

 Understanding regression analysis can usher you into a career in data science or machine learning: financial forecasting, weather analysis, prediction, sales forecasting and promotions, and time series forecasting.

You need help with statistics homework to increase your chances of achieving these career goals will enhance your opportunities to achieve these and more career goals.

• Analysis of Variance (ANOVA): This refers to the statistical method used to separate variance data in a set into different components. You can then use these separate components to perform additional tests. You use ANOVA for at least three groups of data. ANOVA is the first step you take when you want to identify the factors that affect the data set.

• Analysis of Covariance (ANCOVA): This statistical method examines the differences in the mean of the dependent variable in a data set. The dependent variable in question should be related to the controlled independent variables. Besides this, ANCOVA considers the influence of the independent variables that are uncontrolled in the data set.

• Statistical Significance: Findings in the analysis of a data set may be a result of a specific factor of interest in statistical analysis or due to chance. Determination of statistical significance helps you decide whether an occurrence is due to one or the other. It is a double-checking method to ensure you don’t waste time and resources analyzing statistically insignificant findings.

• Correlational Analysis: This analyses how strongly related two variables are. The relationship between the two variables can either be positive or negative. You can apply your correlational analysis skills to find out what satisfies or causes dissatisfied customers as a market researcher or a customer relations expert.

Statistics has a wide application in business, government, politics, and society in general. As a result, it is virtually impossible to come across a university course without at least a few statistics units. High school education also works to set you up for this eventuality.

You will need statistics homework help to be able to understand all the above. The tutoring you get will help you pass your examinations and understand the concepts so that you can apply them in the job market.