Which of the following categories statistics in plural sense and singular sense (c)statistics includes indepenture of data
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Answer:
is a singular sense
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In plural sense "a systematic collection of numerical facts"
In singular sense it is "the science of collecting, classifying & using statistics".
Explanation:
Statistics mean aggregates or ratios describing such relationships dependent on "data collection", "presentation" & "observation". The meaning of statistics is understood in 2 ways: in the plural sense & in the singular sense.
The following are some of the main features of statistics.
- "Aggregate of facts": Statistics is an aggregate of numerical facts and figures. A single value does not represent statistics.
- "Collected in a Systematic Manner": Statistical data is gathered in a planned & systematic manner. Data gathered without any system/order is unreliable.
- "Expressed Numerically": All "statistical data", whether quantitative/qualitative, is expressed in "numerical terms".
- "Affected" by a "Multitude of causes": Statistical data is impacted by a "multitude of causes".
- "Scientific Collection of Data": It comprises the "collection" of "numerical data" in a "scientific manner", so that the data gathered "pertains" to the subject matter
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Explain with illustrations the usefulness of statistics in economic ...
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