What is a statistical analysis.

Question

Accepted Answer

Statistical analysis is the process of collecting, analyzing, and interpreting data to make informed decisions.

It involves identifying patterns and relationships in data
It helps in making predictions and drawing conclusions
It uses various statistical methods and tools such as regression analysis, hypothesis testing, and data visualization
It is used in various fields such as business, healthcare, and social sciences
Example: A company uses statistical analysis to determine the effectiveness of a new marketing campaign