Statistic

Definition of Statistics, Scope and importance of Statistics: Statistics in business and management: Frequency distribution: Parts of table:

Definition of Statistics:

1. Statistics can be defined as the collection presentation and interpretation of numerical data - Croxton and Crowed.

2. Statistics are numerical statement of facts in any department of enquiry placed interrelation to each other. - Bouly.

3. Statistics are measurement, enumerations or estimates of natural or social phenomena systematically arrangement to exhibit their inner relation. - Conner.

4. By Statistics we mean quantitative data affected to a marked extend by a multiplicity of causes. – Youle and Kendal.

5. The science of Statistics is essentially a branch of applied mathematics and can be regarded as a mathematics applied to observation data. - R.A fisher.

Scope and importance of Statistics:

1. Statistics and planning: Statistics in indispensable into planning in the modern age which is termed as “the age of planning”. Almost all over the world the government are re-storing to planning for economic development.

2. Statistics and economics: Statistical data and techniques of statistical analysis have to immensely useful involving economical problem. Such as wages, price, time series analysis, demand analysis.

3. Statistics and business: Statistics is an irresponsible tool of production control. Business executive are relying more and more on statistical techniques for studying the much and desire of the valued customers.

4. Statistics and industry: In industry statistics is widely used inequality control. In production engineering to find out whether the product is confirming to the specifications or not. Statistical tools, such as inspection plan, control chart etc.

5. Statistics and mathematics: Statistics are intimately related recent advancements in statistical technique are the outcome of wide applications of mathematics.

6. Statistics and modern...