Overview of Statistics

Statistics is a combination of the analysis, collection, interpretation, and representation of numerical data. Probability is a measure of the likelihood that an event will occur and is quantified as a number between 0 and 1.

A probability distribution is a function that provides the probability for every possible event. A probability distribution is frequently used for statistical analysis. The higher the probability, the more likely the event. There are two types of probability distributions, namely discrete and continuous.

A discrete probability distribution shows all the values that a random variable can take, together with their probability. The following diagram illustrates an example of a discrete probability distribution. If we have a six-sided die, we can roll each number between 1 and 6. We have six events that can occur based on the number that's rolled. There is an equal probability of rolling any of the numbers, and the individual probability...