Question

Explain Statistics.
Topic: Introduction to Statistics

Answer 1

Some of the important characteristics of statistics are given below: Statistics are aggregates of facts. ... Statistics are affected to a marked extent by multiplicity of causes. Statistics are enumerated or estimated according to a reasonable standard of accuracy. Statistics are collected for a predetermined purpose.

Answer 2

Statistics can be defined in two senses: plural and singular sense.

As per Plural Sense: Statistics refers to the aggregation of facts and figures expressed numerically collected for the predefined purpose. Example: Statistics of the production by a firm.

As per Singular Sense: Statistics refers to the systematic process of collection, presentation, analysis and interpretation of the collected data in order to draw meaningful conclusions out of it.

Characteristics of Statistics:

1. Consists of aggregation of facts
2. Affected by many causes.
3. Numerically expressed.
4. Must be either enumerated or estimated
5. Collected in a systematic way.
6. Collected for a predefined purpose.

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