Statistical date are - 1.numerical statement of fact 2.Qualitative information 3.both quantitation andqualitative information 4.Single or isolated facts and fingures
Answers
Statistics is used to collect, present and analyze numerical figures on a scientific basis.
The use of various statistical methods help in presenting complex mass of data in a simplified
form so as to facilitate the process of comparison of characteristics in two or more situations.
Statistics also provide important techniques for the study of relationship between two or
more characteristics (or variable), in forecasting, testing of hypothesis, quality control,
decision-making, etc.
Statistics as a scientific method has its importance in almost all subjects of natural and
social sciences.
Statistics is an indispensable tool for the modern government to ensure efficient running
of its administration in addition to fulfillment of welfare objectives.
It is rather impossible to think of planning in the absence of statistics.
The importance of statistics is also increasing in modern business world.
Every business, whether big or small, uses statistics for analysing various business
situations, including the feasibility of launching a new business.
The limitations of statistics must always be kept in mind.
Statistical methods are applicable only if data can be expressed in terms of numerical
figures.
The results of analysis are applicable to groups of individuals or units and are true only on
average, etc.