The study of statistics is concerned with the collection, presentation, analysis and interpretation of numerical data. Another definition of statistics is that it is a body of methods and theories that are applied when making decisions in the face of uncertainty. Descriptive statistics or exploratory data analysis involves summarising, describing and analysing quantitative data. Confirmatory data analysis or inferential statistics is a group of statistical techniques used to go beyond the data. It involves the analysis and interpretation of data to make generalizations. In other words, to draw conclusions about a population from a quantitative data collected from a sample. Probability is a measure of likelihood and can be stated as a percentage, a ratio, or more usually as a number between 0 and 1.The set of all possible outcomes of an experiment in probability is called the sample space.The examples are based on teaching notes and reference books. Econometrics is a mixed discipline that requires different degrees of introductory knowledge related to probability, probability distributions, statistics, mathematical economics, calculus, and matrix algebra. For example, random variables are described by probability distributions such as the normal distribution, the t- distribution, the Chi-squared distribution, the F – distribution. Econometrics is basically related to economic measurement. It is the application of statistics and mathematics to economic or financial data to obtain and interpret numerical results.