Question

Explain the function of statistics​

Answer 1

Answer:

statics is like maths

its very wast

Answer 2

What is Statistic?

• Statistic means collection, presentation, analysis, interpretation of numerical data.

Function of Statistic:

1. To Simplify complex facts: It is very difficult to understand numerical explanation of data. Statistical method helps in presenting complex data into simple and understandable data.
2. Comparing data: Statistic help in comparing data between various figures.
3. To help in forecasting: Business is full of risk and uncertainties, hence correct forecasting can be made with the help of statistics.
4. To make planning: With the help of statistical businessmen, government and administrator can make future plan and hence, can shape their policies.
5. To increase knowledge: With the help of statistical, we can increase knowledge and sharpen the rational thinking and reasoning.
6. Formation and testing of hypothesis: With the help of statistics we can test and form hypothesis.