Stat explanation

Hit points
Hit points (HP) represent the amount of damage that unit can withstand before dying. An ordinary human recruit has about 10 HP, a giant has about 30 and a dragon typically has over 100HP.

Protection
Protection indicates the thickness of any armor worn by the unit, including natural armor such as scaly skin. The Protection value is subtracted from the attackers strength and weapon damage when calculating the total effective damage on a target. Light infantry units have Protection values ranging from 3 to 10 while knights have a Protection of 20 or more

Magic Resistance
Some spells can be resisted and avoided by targets with and iron will. A units magic Magic Resistance value indicates how well the unit can resist such spells. Most mind-affecting spells can be resisted with high Magic Resistance, whereas destructive spells like Fireball cannot be resisted at all. A normal human soldier has Magic Resistance value of 10 and a powerful mage can have a value of 15 or more. Spells cast by powerful mages are more difficult to resist than spells cast by weaker ones

Moral
A unit's Moral value represents the courage and valor of the unit. Every time something demoralizing happens to a unit, it's Moral is checked. If the unit it's Moral drops a point and it will be more likely to flee from a fight. If the fight is a legitimized dual honor and fame will be lost.

Strength
Strength represents the physical might of a unit. A high value indicates that the unit can damage even heavily protected troops. The Strength is added to the weapon damage when total damage is calculated. A normal human soldier has a Strength value of 10

Attack Skill
Attack Skill indicates a units ability to hit an enemy in melee combat. The weapon bonus is added to this value when attacking. If the Attack Skill is above the defending unit's Deference Skill, the strike will most likely hit the defender. A normal soldier has an attack skill of 10 and an elite soldier with much battle experience might have an Attack Skill of 15. The Attack Skill of a unit with one weapon in each hand will be reduced by the sum of the weapon lengths, so it is much more effective to fight with two daggers than two long swords.

Deference Skill
The Deference Skill indicates a units ability to avoid getting hot in melee combat. Attacks will generally miss a target unless the attackers Attack Skill is greater than the target's Deference Skill. Deference doesn't protect a unit form missile or spells. A normal soldier without a shield or heavy armor has a defense value of 10, while a heavily armed soldier might have a Deference value of 5 and an experienced mounted soldier a value of 15

Precision
Precision represents the targeting skill of the unit. Precision is only used when firing missile weapons or casting spells. the higher the value, the more likely that the projectile or spell will hit the intended target. A normal human soldier has a Precision value of 10. Units rarely have values above 15, with one exception being that of a War Elf.

My support staff has been tasked with finishing the list of stat explanations