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practical statistical tools

Practical Statistical Tools

       The real-life environment is made of probabilistic data by nature and the ability to make decisions based on probabilities is crucial in the business world. It is common to have a set of data and the need to calculate the probability of taking a value greater or less than a specific value. It is also common in many companies the unavailability of a statistical software or a specialized professional in statistics. The purpose of this website is to offer simple and effective tools to support decisions based on probabilities.

        Statistical Analysis is comprised of three major steps. The first step is the data collection through the use of Sampling methods. The second step is the Descriptive Statistics, summarizing the knowledge we can get from the sample and showing important characteristics that describes it. And finally, the Statistical Inference that is able to infer properties of a population, for example by testing hypotheses, computing probabilities and deriving estimates.