The aim of this paper is to explore the statistical techniques used for the analysis of Electroencephalography Signals obtained from Epileptic Patients. The Electroencephalogram (EEG) is actually a measure of the cumulative firing of neurons in various parts of the brain. The EEG contains the information with regard to the changes in the electrical potential of the brain which is obtained from a set of recording electrodes. The study of the statistical analysis techniques paves the way for the easy classification of epilepsy risk levels from EEG signals as a future step.