EVERYDAY SCIENCE

Detailed explanation-1: -Biostatistics can be defined as the application of the mathematical tools used in statistics to the fields of biological sciences and medicine.

Detailed explanation-2: -Biostatistics not only covers the health, medicine, and nutrition but also covers the agriculture, genetics, biology, biochemistry, demography, epidemiology, anthropology and many others. Biostatistics helps to evaluate many life and death issues in medicine.

Detailed explanation-3: -Two main statistical methods are used in data analysis: descriptive statistics, which summarizes data using indexes such as mean and median and another is inferential statistics, which draw conclusions from data using statistical tests such as student’s t-test.

Detailed explanation-4: -The two major approaches to statistical inference in clinical research are frequentist and Bayesian. The frequentist approach involves estimating confidence intervals, testing hypotheses, and drawing conclusions based on observed data.

Detailed explanation-5: -Statistical methods are extensively used in developing financial theory and its applications with respect to the areas of corporate finance, securities, portfolio management and analysis, financial bodies and institutions and markets.