Q. Difference between Probability and statistics?
Ans.
Probability and statistics are used in many different aspects of life. What are they and why are they so popular?
Probability is the way we measure how likely it is that an event will happen. It is a number between 0 and 1. A probability of 0 means that there is no chance at all of the event occurring. On the other hand, the event is certain to occur if the probability equals 1.
The study of statistics involves a few aspects. The collection of data, the analysis of the data and the conclusions arrived at from the analysis. This description might seem a little mysterious at the moment.