Question

Explain scope and application of statistics.​

Answer 1

Answer:

Scope of statistics:

Statistics are numerical statement of facts capable of analysis and interpretation as well as study of the methods used in collection, organization, presentation, analysis and interpretation of numerical data. It is often said that “Statisticians is what Statisticians do”

Application of Statistics:

Statistics help in providing data as well as tools to analyze the data. Some powerful techniques are index numbers, time series analysis, and also forecasting. These are immensely useful in the analysis of data in economic planning. Further, statistical techniques help in framing planning models too