Firstly, statistics as controlled by Create/update/drop/ DBCC SHOW_STATISTICS are completely unrelated to SET STATISTICS XX. The first are column statistics used by the optimiser, the second shows query execution statistics.

Some links (that you could easily have found with Google)

CREATE STATISTICS - http://msdn.microsoft.com/en-us/library/ms188038%28SQL.90%29.aspx

UPDATE STATISTICS - http://msdn.microsoft.com/en-us/library/ms187348%28SQL.90%29.aspx

sp_updatestats - http://msdn.microsoft.com/en-us/library/ms173804%28SQL.90%29.aspx

DBCC SHOW_STATISTICS - http://msdn.microsoft.com/en-us/library/ms174384%28SQL.90%29.aspx

SET STATISTICS XX -

http://msdn.microsoft.com/en-us/library/ms190287%28SQL.90%29.aspx

http://msdn.microsoft.com/en-us/library/ms184361%28SQL.90%29.aspx

Finally, there's a whitepaper on how SQL uses statistics. Long, fairly deep but good - http://technet.microsoft.com/en-us/library/cc966419.aspx and I did a presentation on Statistics at the SQL PASS Summit couple weeks back. The deck's up on my blog. http://sqlinthewild.co.za/index.php/resources/

If you still have questions after reading through all that, some back and ask.