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Essay On Characteristics Of Statistics

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Question 1. Statistics plays a vital role in aalmost every facet of human life. Discuss the characteristics of statistics.What is the importance in business and management?
Answer:
Statistics is mean is used to mean either statistical data or statistical method.Statistical data refer to the quantitative aspects of things and is a numerical description Thus the distribution of family income is a quantative description.Thus the distribution of family income is a quantative description.

Characteristics of Statistics
Statistics are the aggregate of facts: Single or isolated facts or figures cannot be called statistics as they cannot be compared or related to other figures with in same frame work. statistics are affected by multiple causes: The term statistical data can be used only when we cannot predicts exactly the values of the various physical quantities.It mean that the numerical values of any quantity at any particular moment is the result of the action and interaction of any quanlity. …show more content…

The qualitative statments donot show accurate interpretation and hence cannot be called as statistics.
Statistics are collected in a systematic manner for a predetermiined purpose : Quantitative data can be called statistics only if they have been compiled in a properly planned manner and for a purpose about which the ennumerator had a define idea.
Statistics data must be according to be reasonable stander of accuracy: The accurate statistics data will be genrated by counting the actual number in the data.such as number of patients in the hospital.The data must reasonable accurate.
Statistics should be placed in relation to each other : Numerical facts may be palced in relation to each other either in point of time,space or condition.The statment placed in relation to each other means that the facts should be comparable.

Statistics in Business and

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