# DEFINITION OF STATISTICS

Definition of statistics :

We may define statistics either in a singular sense or in a plural sense Statistics, when used as a plural noun, may be defined as data qualitative as well as quantitative, that are collected, usually with a view of having statistical analysis.

However, statistics, when used as a singular noun, may be defined, as the scientific method that is employed for collecting, analyzing and presenting data, leading finally to drawing statistical inferences about some important characteristics it means it is ‘science of counting’ or ‘science of averages’

Apart from the definition of statistics, let us look at some applications of statistics.

## Applications of statistics

Among various applications of statistics, let us confine our discussions in the following fields.

Now, let us discuss the application of statistics in the above fields in detail.

## Economics

Modern developments in Economics have the roots in statistics. In fact, Economics and Statistics are closely associated.

Time Series Analysis , Index Numbers, Demand Analysis etc. are some overlapping areas of Economics and statistics. In this connection, we may also mention Econometrics – a branch of Economics that interact with statistics in a very positive way.

Conducting socio-economic surveys and analysing the data derived from it are made with the help of different statistical methods.

Regression analysis, one of the numerous applications of
statistics, plays a key role in Economics for making future projection of demand of goods, sales, prices, quantities etc. which are all ingredients of Economic planning.

Gone are the days when the managers used to make decisions on the basis of hunches, intuition or trials and errors.

Now a days, because of the never-ending complexity in the business and industry environment, most of the decision making processes rely upon different quantitative techniques which could be described as a combination of statistical methods and operations research techniques.

So far as statistics is concerned, inferences about the universe from the knowledge of a part of it, known as sample, plays an important role in the development of certain criteria.

Statistical decision theory is another component of statistics that focuses on the analysis of complicated business strategies with a list of alternatives – their merits as well as demerits.

## Commerce and Industry

In this age of cut-throat competition, like the modern managers, the industrialists and the businessmen are expanding their horizons of industries and businesses with the help of statistical procedures.

Data on previous sales, raw materials, wages and salaries, products of identical nature of other factories etc are collected, analysed and experts are consulted in order to maximise profits.

Measures of central tendency and dispersion, correlation and regression analysis, time series analysis, index numbers, sampling, statistical quality control are some of the statistical methods employed in commerce and industry.

Even though we have various applications of statistics, there are some limitations too.

Now, let us look at the limitations of statistics.

## Limitations of statistics

Before applying statistical methods, we must be aware of the following limitations :

1.  Statistics deals with the aggregates. An individual, to a statistician has no significance except the fact that it is a part of the aggregate.

2. Statistics is concerned with quantitative data. However, qualitative data also can be converted to quantitative data by providing a numerical description to the corresponding qualitative data.

3.  Future projections of sales, production, price and quantity etc. are possible under a specific set of conditions. If any of these conditions is violated, projections are likely to be inaccurate.

4.  The theory of statistical inferences is built upon random sampling. If the rules for random sampling are not strictly adhered to, the conclusion drawn on the basis of these unrepresentative samples would be erroneous. In other words, the experts should be consulted before deciding the sampling scheme.

After having gone through the stuff given above, we hope that the students would have understood "Definition of statistics".

Apart from the stuff given on this web page, if you need any other stuff in math, please use our google custom search here.

WORD PROBLEMS

HCF and LCM  word problems

Word problems on simple equations

Word problems on linear equations

Algebra word problems

Word problems on trains

Area and perimeter word problems

Word problems on direct variation and inverse variation

Word problems on unit price

Word problems on unit rate

Word problems on comparing rates

Converting customary units word problems

Converting metric units word problems

Word problems on simple interest

Word problems on compound interest

Word problems on types of angles

Complementary and supplementary angles word problems

Double facts word problems

Trigonometry word problems

Percentage word problems

Profit and loss word problems

Markup and markdown word problems

Decimal word problems

Word problems on fractions

Word problems on mixed fractrions

One step equation word problems

Linear inequalities word problems

Ratio and proportion word problems

Time and work word problems

Word problems on sets and venn diagrams

Word problems on ages

Pythagorean theorem word problems

Percent of a number word problems

Word problems on constant speed

Word problems on average speed

Word problems on sum of the angles of a triangle is 180 degree

OTHER TOPICS

Profit and loss shortcuts

Percentage shortcuts

Times table shortcuts

Time, speed and distance shortcuts

Ratio and proportion shortcuts

Domain and range of rational functions

Domain and range of rational functions with holes

Graphing rational functions

Graphing rational functions with holes

Converting repeating decimals in to fractions

Decimal representation of rational numbers

Finding square root using long division

L.C.M method to solve time and work problems

Translating the word problems in to algebraic expressions

Remainder when 2 power 256 is divided by 17

Remainder when 17 power 23 is divided by 16

Sum of all three digit numbers divisible by 6

Sum of all three digit numbers divisible by 7

Sum of all three digit numbers divisible by 8

Sum of all three digit numbers formed using 1, 3, 4

Sum of all three four digit numbers formed with non zero digits

Sum of all three four digit numbers formed using 0, 1, 2, 3

Sum of all three four digit numbers formed using 1, 2, 5, 6