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FAQ (Frequently Asked Questions)

1. What is Statistics? Explain its Significance?

Ans. Statistics is one of the mathematical disciplines. It helps to organize the data. It analyzes and quantifies the data using different measures. It also helps to represent data in various forms and can draw conclusions from them.

Statistics play a vital role in all kinds of industries. Because, irrespective of the type of data, data is mandatory for firm's and it is important to analyze it. It has a great career too.

2. Define the Mean, Median, and Mode?

Ans. The basic statistical measures are mean, median, and mode. So to get enough knowledge, it is important to understand these three definitions and the difference between them.

**Mean:** The term means refers to average. Mean is defined as the average of the given set of data. We can calculate by dividing the sum of all values by several values.

**Median:** Simply, the middle term of the set is known as the median of the set. If it has an even number of terms in the set, the average of two middle terms is the median.

**Mode:** The highest repetitive term of the set is called the mode of the set.