Statistical Theory

Statistical theory is the branch of mathematics that deals with collecting, analyzing, interpreting, and presenting data. It provides principles and formulas to understand patterns and relationships within data, helping us make informed decisions based on evidence. By using statistical methods, we can estimate trends, test hypotheses, and predict future outcomes from samples of data, rather than entire populations. This approach allows us to quantify uncertainty and measure the reliability of our conclusions, making it a fundamental tool in fields like science, economics, and social research.