29.Explain any three functions of statistics with example
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1) Statistics helps in providing a better understanding and exact description of a phenomenon of nature. (2) Statistics helps in the proper and efficient planning of a statistical inquiry in any field of study. (3) Statistics helps in collecting appropriate quantitative data.
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Precision to the Facts: ...
Comparisons: ...
Formulation and Testing of Hypothesis: ...
Forecasting: ...
Policy Making: ...
It Enlarges Knowledge: ...
To Measure Uncertainty:
Main points
Explanation:
statistical function, such as Mean, Median, or Variance, summarizes a sample of values by a single value. By default, they expect their parameter(s) to be a probabilistic value represented by a random sample of values over the Run index.
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