The mathematical study of the Likelihood and Probability of events occurring based on known information and inferred by taking a limited number of samples. Statistics plays an extremely important role in many aspects of economics and science, allowing educated guesses to be made with a minimum of expensive or difficult-to-obtain data.
See also Box-and-Whisker Plot, Buffon-Laplace Needle Problem, Buffon's Needle Problem, Chernoff Face, Coin Flipping, de Mere's Problem, Dice, Distribution, Gambler's Ruin, Index, Likelihood, Moving Average, P-Value, Population Comparison, Power (Statistics), Probability, Residual vs. Predictor Plot, Run, Sharing Problem, Statistical Test, Tail Probability
References
Statistics
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