Statistics – An Effective Way of Dealing with Data

There are different branches of mathematics, all of them play an important role in our life. Algebra, geometry and statistics are a few of the branches of mathematics. Besides, statistics have a lot of formulas and methods that help us to deal with the collected data. Statistics is a branch of mathematics that has a lot of applications in our everyday life. Hence, everyone needs to understand it. One of the methods in statistics is the standard deviation. In this article, we will discuss in detail statistics, also try to understand the importance of standard deviation methods.

Statistics – Manage the Data

Statistics: In our daily life we deal with a lot of data. It becomes necessary for us to efficiently manage the data. Statistics is the branch of mathematics that helps us deal with a lot of data. It is used in almost every sector whether it’s sports, education or the market. We can’t ignore statistics. Whenever we are dealing with data, we want the conclusion of that data and get a result.

When we talk about mathematical statistics, one should know that there are two methods of dealing with data in mathematical statistics. In addition, the two methods are Descriptive and Inferential statistics. Descriptive statistics is all about collecting the data and observing the data. We collect the data and try to summarise its properties, whereas in Inferential statistics, we get the result out of the data or it is a method used to get the conclusion from the collected data.

Graphs and Charts

Whenever one says statistics, one image comes into our mind instantly and that is of graphs and charts. In statistics, graphs are a way of representing the data. There are a lot of ways of representing the data in statistics. A few of them are bar graphs, pie charts and line graphs. In a bar graph, bars are represented either vertically or horizontally.

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In this method, the collection of data is represented by rectangular bars. The length of rectangular bars is always proportional to the values of the data. Pie charts are one of the easiest to represent the data. In pie charts, there is a complete circle that is divided into various sectors. Each sector represents a small portion of the whole. Similarly, other charts also have their benefits and their way of representing the data. In statistics, there are a lot of methods to analyze our data. Mean, mode and standard deviation are a few of the methods.

Standard Deviation – Statistical Analysis

Standard deviation: It is a general method of statistical analysis. One must ask, what is the benefit or use of the answer that we get from this method. It tells us about the deviation of any particular value from the mean value. If the value we get by using this method is low or we can say if the standard deviation is low then the value is likely to be closer to the mean value whereas when the value of standard deviation is high, one may conclude that the value is far from the mean value of the data. There are two types of data and they are known as grouped data and ungrouped data. There are different ways of finding the standard deviation, depending on the type of data.

How to calculate the standard deviation

To calculate the standard deviation there is a proper step-by-step process that needs to be followed. First, we will calculate the mean of the data. After that, one needs to find the squared difference from the mean value. Now find the average of the values of the squared difference, this will give us the variance of the data. Now one just needs to get the square root value of the variance and that will be our result or standard deviation. This is the general process to follow to get the standard deviation. There are other formulas also through which one can calculate the standard deviation. 

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We have discussed standard deviation and statistics. Especially, students should understand statistics and all the methods in it to easily solve problems related to data. They can take help from Cuemath in understanding them. Cuemath is an excellent platform for learning concepts related to mathematics. They help students to grasp the topic easily and master those topics.