What are "Probability Theory," "Statistics," and "Operations Research?"
Statistics is the mathematical science of utilizing data about a population in order to describe it usefully and to draw conclusions and make decisions. The population may be a community, an organization, a production line, a service counter, or a phenomenon such as the weather. Statisticians develop models based on probability theory. They determine which probability model is correct for a given type of problem and they decide what kinds of data should be collected and examined. "Theoretical" statistics concerns general classes of problems and the development of general methodology. "Applied" statistics concerns the application of the general methodology to particular problems. This often calls for use of techniques of computer-based data analysis.Some examples of statistical problems are:
- interpretation of evidence linking smoking and cancer,
- design of experiments to evaluate effectiveness of fertilizers,
- market re
Specific examples are:
The tools used in operations research include probability theory and statistics.
- study of the minimum number of fire engines needed in each station in a city to combat fires most effectively,
- analysis of optimal funding allocation by the Florida Legislature in a budget year.