The Importance Of Statistics

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INTRODUCTION Statistics deals with methods which help in estimating the characteristics of a population or making decisions concerning a population on the basis of the sample results. Sample and population are the two relative terms. A population is treated as universe and a sample is fraction or segment of the universe. Statistics describe the data and consists of the methods and technique used in the collection, organization, presentation and analysis of data in order to describe the various features and characteristics of such data. These can either be graphical or computational. In this, nothing can be inferred from the data nor can decision be made or conclusion drawn. (Akbhanj, 2013)

Statistics are aggregate facts, a series relating
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Furthermore, function of statistics is presentation of fact, simplification of complexities, facilitating comparisons, facilitating the formulation of policies, widening of human knowledge, useful in testing the laws of other sciences, facilitates the forecasting, establishment of correlation between two facts. ( Madan kumar, 2014) Statistics provided methodology for understand, assessed and controlled the operation of the organization and thus promotes organization welfare. The facts based on statistical operation are considered to be most reliable and dependable. ( Madan kumar,…show more content…
It is most frequently used and the value is affected by the value of every observation in data. Measures of dispersion is common measures of dispersion from grouped and ungrouped. (DrZahid Khan, 2014) Range defined as different between largest and smallest score in set of data. ( Appendix 8) Interquartile range defined as the different between the upper and lower quartiles. ( Appendix 9). Semi Interquartile range(SIR) called Quartile deviation defined as the difference between first and third quartiles and divided by two (Appendix 10) SIR is often used with skewed data as it is insensitive to the extreme scores. (Appendix 11). . (DrZahid Khan, 2014) Mean deviation is measures the average distance of each observation away from the mean of the data like gives an equal weight to each observation. Generally more sensitive than the range or interquartile range, since a change in any value will effect it. (Appendix 12). (DrZahid Khan,
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