Part - 01

 

What is Statistics?

• By Statistics we mean quantitative data affected to a marked extent by multiplicity of causes, numerically expressed enumerated or estimated according to reasonable, standards of accuracy collected in a systematic manner for a pre-determined purpose and placed in relation to each other.
• Statistics is a numerical statement of facts in any department of enquiry placed in r on to each other.
• By statistics we mean the method of collection, classification, tabulation, analysis, interpretation of numerical data.

Functions of Statistics: -

• Simplification of huge collection of numerical data.
• Facilitates comparison by developing relationship between facts.
• Helps in formulation and testing of hypothesis.
• It increases individual knowledge to measure uncertainty and helps to draw conclusions.

Characteristics of Statistics

Characteristics of Statistics: -

• Statistics are aggregate of facts
• Statistics are numerically expressed
• -It is affected to a marked extent by multiplicity of causes and not by single causes.
• Statistics should be collected in a systematic manner
• Statistics should be collected for a pre-determined purpose.
• Statistics should be placed in relation to each other.
• Reasonable standard of accuracy should be maintained in statistics.

Importance and Usefulness of Statistics: -

• Statistics help in presenting large quantity of data in a simple and classified form.
• It gives the method of comparison of data and judges in right perspective.
• It enlarges individual mind.
• Based on the facts statistics help us to arrive at correct view.
• Statistics helps in finding relationship between the variables.
• It helps businessmen, administrators, government policy makers for planning and shopping future policies.

Limitations of Statistics

Limitations of Statistics: -

The following are limitations of statistics-

• Statistics does not study qualitative characteristics -Statistics laws are not exact.
• Statistics does not study individuals.
• Statistics does not reveal the entire story.
• Statistics results are true only or an average.
• Statistics is liable to be misused
• Statistical relations do not necessarily bring out cause and effect relationship between them.
• Statistics when collected for one purpose cannot be applied or used in another situation.

 

Scope of Statistics: -

 

• Statistics and commerce
• Scientific management
• Business forecasting
• Share market -Statistics and Economics
• Statistics and sports
• Statistics and education
• Statistics and medicine
• Statistics and physical, chemical and mathematical science
• Statistics and astronomy
• Statistics and population study census
• Statistics and politics
• Statistics and agriculture

And many more

The main reasons of Distrust about Statistics: -

 

• Lack of technical knowledge of statistics to the investigator.
• Being biased opinion of the investigator.
• Using unsuitable data or test of significance.
• Not keeping limitations in mind while analyzing and interpreting any problem.