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The technique and science of developing human knowledge through the use of empirical data expressed in quantitative form is known as statistics. It is not a part of mathematics but a distinctive mathematical science. It involves the collection, analysis and then summarization of the data into a numerical form. It is applicable to a wide range of academic disciplines such as Finance, Insurance, and Economics.
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The reason behind the complexity of the subject and large number of students seeking help is as follows:
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