“Planning without statistics is a ship without rudder and a compass.” In light of the statement explain the importance of statistics as an effective aid to national planning
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Statistics plays an important role in planing. Without gathering the information regarding your particular plan if you dont have any information that could result in the failure of your plan henc a big loss. So begore making a plan its an important part to collect the statistics regarding or related to your target audiance in order to better understand your audiance so that a company is able to deliver what their customers wants and needs.
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Definition of statistics:
Statistics is a branch in mathematics that is concerned with the collection, analysis, interpretation, presentation and organization of data. Statistics is also a science of collecting and analyzing numerical data in large proportions and usually for the purpose of inferring samples in a whole, from those drawn from a representative proportion.
Therefore from this definition we understand that statistics is the rudder of the ship and its compass. This is because without analyzing information that surrounds your plan through gathering information then analyzing, interpreting, presenting and organizing the data, you will work blind.
This can result in dire consequences because your plan can fail terribly resulting in losses, wastage of time and even loss of trust by clients
Therefore statistics is very important because it prepares us for what to expect and to establish a contingency plan.
Statistics is a branch in mathematics that is concerned with the collection, analysis, interpretation, presentation and organization of data. Statistics is also a science of collecting and analyzing numerical data in large proportions and usually for the purpose of inferring samples in a whole, from those drawn from a representative proportion.
Therefore from this definition we understand that statistics is the rudder of the ship and its compass. This is because without analyzing information that surrounds your plan through gathering information then analyzing, interpreting, presenting and organizing the data, you will work blind.
This can result in dire consequences because your plan can fail terribly resulting in losses, wastage of time and even loss of trust by clients
Therefore statistics is very important because it prepares us for what to expect and to establish a contingency plan.
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