Defining Probability & Statistics

Probability is the branch of mathematics dealing with numerical descriptions of how likely an event is to occur. It is the science of predicting future outcomes based on a known model or set of rules.

Statistics is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data. It is the science of inferring the rules of the world based on observed data.

Statistics is generally divided into two main categories:

1. Descriptive Statistics: Summarizes data using indexes such as mean (average) or standard deviation. (e.g., "The average height in this room is 5'9".")
2. Inferential Statistics: Uses data from a sample to make conclusions about a larger population. (e.g., "Based on this survey of 1,000 people, we estimate 60% of the country supports this law.")