The merits and demerits of statistics

Statistics is normally defined as the compilation of data followed by the analytical and the inferential property of the studied subject. Statistical mainly deals with the numerical analysis part of any subject and therefore by itself is an important part of understanding its inner nature. This is because in each and every subject there is some place where mathematics and research is required. Thus statistics as an instrument of knowledge has a lot of advantages. On the other hand statistics has Read more [...]

Statistics and Probability helping to gain profits in Forex Trading

The prices in Forex or any other financial market seem to move up, sideways and down everyday. But sometimes it can be observed that Forex prices constantly move in one particular direction. At that time, one may get tempted easily to invest in a currency pair (Exchange rate relationship between two currencies, where one currency is expressed in terms of the other - e.g. GBP-EUR (British Pound against Euro) is a currency pair). As soon as he buys the currency pair, suddenly the value of it changes Read more [...]

Statistics in Sport Betting

We know that betting is quite popular on many sports, especially the televised ones. But the process of betting is not actually a simple one. People might think that betting is done on the basis of instinct or hunch. But, the real fact is that one really needs to understand the game before he or she wants to do betting. A person has to be aware of each and every aspect of the game, from the teams to the players involved, etc. The science of statistics is indeed broadly used for betting. Generally Read more [...]