what do you understand by the term statistics? give its chief characteristics
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what do you understand by the term statistics?
Ans:- Statistics is the study and manipulation of data, including ways to gather, review, analyze, and draw conclusions from data. The two major areas of statistics are descriptive and inferential statistics. Statistics can be used to make better-informed business and investing decisions.
Ans:-Give its chief characteristics
- Statistics should be numerically expressed. ...
- Statistics are aggregates of facts. ...
- Statistics are affected to a market extent by a multiplicity of causes. ...
- Statistics must be collected in a systematic manner for a predetermined purpose. ...
- Statistics are enumerated or estimated according to reasonable standards of accuracy.
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