David J. Hand

Statistical Concepts and techniques underpin practically every area of modern life. The study of statistics has become crucial to how we comprehend the world, from randomized clinical trials in medical research to statistical models of risk in the banking and hedge fund sectors to the statistical techniques used to search through huge astronomical datasets. However, the discipline that underpins all of this is not the dry numbers of common beliefs. The days of performing laborious calculations are long gone. The computer has transformed the field of statistics today, which uses cutting-edge software tools to analyze numerical data in search of structures, trends, and relationships. This Very Short Introduction places the study of statistics in its historical and practical context, highlights techniques for collecting and analyzing data, and explains how the science of chance, or probability, functions in statistical approaches. The book also delves into the philosophical underpinnings of induction, or how we utilize statistics to extract the essential characteristics of reality from the constrained observations we are compelled to make.