Statistics is a branch of mathematics that deals with the collection, analysis, interpretation and presentation of data. It is used in many different fields such as economics, science, business and engineering to help make informed decisions. Statistics can be used to make predictions about future events or trends based on past information.Statistics is also used for summarizing large amounts of data into a form that can be easier to understand. This helps people visualize patterns and relationships between variables within a dataset. For example, if you have access to sales figures from multiple stores within a region, you can use statistics to compare their performances in terms of gross profits or cost efficiency over time.Statistical methods are also applied when conducting experiments or surveys in order to determine the validity and reliability of results obtained. Statistical tests such as t-tests and ANOVA are used for this purpose by scientists in many different fields including psychology and medicine. In addition, statistical models are used to identify correlations between different variables as well as cause-and-effect relationships which can provide valuable insights into certain phenomena or behaviors. Finally, statistics plays an important role in decision making processes by providing evidence which can inform decisions made by individuals or organizations. For instance, healthcare companies might use statistics when deciding whether or not particular treatments are effective at treating certain illnesses or diseases by looking at patient outcomes over time across multiple trials conducted with various patient samples. Overall, statistics provides us with powerful tools which allow us to gain deeper insight into the world around us and make more informed decisions based upon evidence rather than intuition alone.
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