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.

## Statistics for Business and Economics – James T. McClave, P. George Benson, Terry Sincich – 10th Edition

This best-selling introduction stresses the development of statistical thinking – the assessment of credibility and value of the inferences made…