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The mathematical study of the Likelihood and Probability of events occurring based on known information and inferred by taking a limited number of samples. Statistics plays an extremely important role in many aspects of economics and science, allowing educated guesses to be made with a minimum of expensive or difficult-to-obtain data.
See also Box-and-Whisker Plot, Buffon-Laplace Needle Problem, Buffon's Needle Problem, Chernoff Face, Coin Flipping, de Mere's Problem, Dice, Distribution, Gambler's Ruin, Index, Likelihood, Moving Average, P-Value, Population Comparison, Power (Statistics), Probability, Residual vs. Predictor Plot, Run, Sharing Problem, Statistical Test, Tail Probability
References
 
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Fisher, R. A. and Prance, G. T.  The Design of Experiments, 9th ed. rev.  New York: Hafner, 1974.
 
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Goldberg, S.  Probability: An Introduction.  New York: Dover, 1986.
 
Gonick, L. and Smith, W.  The Cartoon Guide to Statistics.  New York: Harper Perennial, 1993.
 
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Rényi, A.  Foundations of Probability.  San Francisco, CA: Holden-Day, 1970.
 
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Ross, S. M.  Introduction to Probability and Statistics for Engineers and Scientists.  New York: Wiley, 1987.
 
Ross, S. M.  Applied Probability Models with Optimization Applications.  New York: Dover, 1992.
 
Ross, S. M.  Introduction to Probability Models, 6th ed.  New York: Academic Press, 1997.
 
Snedecor, G. W.  Statistical Methods Applied to Experiments in Agriculture and Biology, 5th ed.  Ames, IA: State College Press, 1956.
 
Tippett, L. H. C.  The Methods of Statistics: An Introduction Mainly for Experimentalists, 3rd rev. ed.
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Todhunter, I.  A History of the Mathematical Theory of Probability from the Time of Pascal to that of Laplace.
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Tukey, J. W.  Explanatory Data Analysis.  Reading, MA: Addison-Wesley, 1977.
 
Uspensky, J. V.  Introduction to Mathematical Probability.  New York: McGraw-Hill, 1937.
 
Weaver, W.  Lady Luck: The Theory of Probability.  New York: Dover, 1963.
 
Whittaker, E. T. and Robinson, G.  The Calculus of Observations: A Treatise on Numerical Mathematics, 4th ed.  New York: Dover, 1967.
 
Young, H. D.  Statistical Treatment of Experimental Data.  New York: McGraw-Hill, 1962.
 
Yule, G. U. and Kendall, M. G.  An Introduction to the Theory of Statistics, 14th ed., rev. and enl.  New York: Hafner, 1950.
 
 Statistics
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© 1996-9 Eric W. Weisstein