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Probability and statistics are branches of mathematics essential for data analysis and decision-making. Probability assesses the likelihood of events, providing a framework to quantify uncertainty. Statistics involves collecting, analyzing, interpreting, presenting, and organizing data, drawing meaningful conclusions. Key concepts include probability distributions, central tendency measures, and dispersion measures. These disciplines find applications in diverse fields such as science, finance, and social sciences. They enable informed predictions, risk assessment, and evidence-based decision-making. Understanding probability and statistics is vital for navigating uncertainties, making accurate predictions, and extracting meaningful insights from data in various real-world scenarios.
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