The default value. It collects all statistics except timed operating system statistics and plan execution statistics (aka row source statistics).
basic
Disables the collection of some statistics.
The list of statistics that can be enabled or disabled with statistics_level can be queried from v$statistics_level:
select
statistics_name,
description,
session_status,
system_status
from
v$statistics_level
where
activation_level = 'ALL' -- or 'TYPICAL'
order by
lower(statistics_name);
Relationship to TIMED_STATISTICS
The value of timed_statistics must be true if statistics_level is changed to typical or all.
Vice versa, timed_statistics cannot be set to false if statistics_level is typical or all.
Setting → fast_start_mttr_target to a non-zero value and statistics_level to typical or all enables the MTTR Advisory.
Setting statistics_level to at least typical is a prerequisite for v$sga_target_advice to be populated (the other one is to set db_cache_advice to on).