Q.

1 Elucidate the functions of Statistics Ans:- STATISTICSStatistics, the scient

ific discipline that deals with the
collection, classification, analysis, and interpretation of numerical facts or d
ata, was invented primarily in the nineteenth and twentieth centuries in Western
Europe and North America. In the eighteenth century, when the term came into us
e, "statistics" referred to a descriptive analysis of the situation of a politic
al state-its people, resources, and social life. In the early nineteenth century
, the term came to carry the specific connotation of a quantitative description
and analysis of the various aspects of a state or other social or natural phenom
enon. Statistical concept and statistical thinking enable them to: Solve proble
ms in almost any domain, Support their decisions, Reduce guesswork.
DIVISIONS IN STATISTICS
Statistics
Descriptive Statistics
Inferential Statistics
• • •
Collecting Organizing Summarizin g
• • • •
Making Inference Hypothesis Testing Determining relationship Marking Predictions
FUNCTIONS OF STATISTICS
Statistics is used for various purposes. It’s used to simplify mass data and to
make comparisons easier. It’s also used to bring out trends and tendencies in th
e data as well as the hidden relations between variables. All this helps to make
decision making much easier. Let us look at each function of statistics in deta
il. Statistics simplifies mass data- the use of statistical concepts helps in si
mplification of complex data. Using statistical concept, the manager can make de
cisions more easily. The statistical methods help in reducing the complexity of
the data and consequently in the understanding of any huge mass of data.
1) 2)
Statistics makes comparison easier- Without using statistical methods and concep
ts, collection of data and comparison can’t be done easily. Statistics helps us
to compare data collected from different sources. Grand totals, measures of cent
ral tendency, measures of dispersion, graphs and diagrams, coefficient of correl
ation all provide ample scopes for comparison. Statistics brings out trends and
tendencies in the data- After data is collected, it’s easy to analyse the trend
and tendencies in the data by using the various concepts of Statistics. Statisti
cs bring out the hidden relations between variablesStatistical analysis helps in
drawing inferences on data. Statistical analysis brings out the hidden relation
s between variables. Decision making power becomes easier- With the proper appli
cation of Statistics and statistical software packages on the collected data, ma
nagers can take effective decisions, which can increase the profit in a business
.