Stadistica

Statistics:
Statistics has been defined differently by different writers. According to Webster "Statistics are the classified facts representing the conditions of the people in a state. Speciallythose facts which can be stated in numbers or any tabular or classified arrangement."

According to Bowley statistics are "Numerical statements of facts in any department of enquiry placed inrelation to each other."

According to Yule and Kendall, statistics means quantitative data affected to a marked extent by multiplicity of causes.
Descriptive Stadistics:
A set of brief descriptivecoefficients that summarizes a given data set, which can either be a representation of the entire population or a sample. The measures used to describe the data set are measures of central tendency andmeasures of variability or dispersion.

Descriptive statistics provide a useful summary of security returns when performing empirical and analytical analysis, as they provide a historical account ofreturn behavior. Although past information is useful in any analysis, one should always consider the expectations of future events.

Inferential Statistics:

Process of drawing information fromsampled observations of a population and making conclusions about the population. Inferential statistics have a two-prong approach. First, sampling must be conducted to be representative of theunderlying population.
Second, the procedures must be capable of drawing correct conclusions about the population.

Statistical Experiment:

All statistical experiments have three things in common:* The experiment can have more than one possible outcome.
* Each possible outcome can be specified in advance.
* The outcome of the experiment depends on chance.
A coin toss has all theattributes of a statistical experiment. There is more than one possible outcome. We can specify each possible outcome in advance - heads or tails. And there is an element of chance. We cannot know...