Statistics is the scientific study of collecting, organizing, summarizing, presenting, and analysing data. It involves using data to draw conclusions and make decisions. There are two main types - descriptive statistics which describes data and inferential statistics which makes inferences from samples to populations. Key terms include population, sample, parameter, statistic, and variables. Data can be collected through primary or secondary sources using various sampling and collection methods. Data is then organized and presented through tables, charts, graphs and distributions.