What do you understand of Statistics?
Statistics is a set of tools used to organize and analyse data. Data must either be numeric in origin or transformed by researchers into numbers.
Statistics serve two purposes (1) Description and (2) Prediction.
Statistics are used to describe the characteristics of groups. These characteristics are referred to as variables. Data is gathered and recorded for each variable.
Descriptive statistics can be used to reveal the distribution of the data in each variable and secondly statistics is also used for purposes of prediction.
Prediction is based on the concept of Generalizability which mean that It can be defined as the extension of research findings and conclusions from a study conducted on a sample population to the population at large.
“Statistics” that a word is often used, has been derived from the Latin word ‘Status’ that means a group of numbers or figures; those represent some information of our human interest.
In other words, Statistics is a form of mathematical analysis which related of numbers or figures; that uses, representations and summary for a given set of experimental data or real-life studies.
If we see the in India past during the reign of Chandragupta Maurya (324-300 B.C.), as per historical evidence there was the very good system of collecting vital statistics and registration of births and deaths even before 300 B. C. are in Kautily’s Arthashastra.
If we the reign of Akabar (1556-1605 A.D.), we can found that the records of land, agriculture and wealth statistics were maintained by Todermal, He is the finance minister of Mugal Empire and also he was the one of Navratana in Akbar’s darbar.
If we want in details of accounts of the administrative and statistical surveys which was conducted during the Akbar’s reign which all details mention in ‘Aina-E-Akbari’ which was written by Abul Fazl in 1596-97.
The term ‘Statistics’ has been defined in two senses, i.e. in Singular and in Plural sense.
Statistics are numerical statements of facts in any department of enquiry placed in relation to each other. – A. L. Bowley.
The Classified facts respecting the condition of the people in a state especially those facts which can stated in numbers or in tables of number or in any tabular or classified arrangement – Webster.
By Statistics we mean aggregates of facts affected to a marked extent by multiplicity of causes, numerically expressed, enumerated or estimated according to reasonable standard of accuracy, collected in systematic manner for predetermined purpose, and placed in relation to each other. – Horace Sacrist.
Statistics refers to the body of technique or methodology, which has been developed for the collection, presentation and analysis of quantitative data for the use of such data in decision making. – Ncttor and Washerman
Statistics may rightly be called the science of averages. – Bowleg.
Statistics may be defined as the collection, presentation, analysis and interpretation of numerical data. – Croxton and Cowden.
We have given some types of statistical measures which details as follows:
- Regression analysis
- Analysis of variance
Types of Statistics
So, I have explain in details of Types of Statistics
- Mean – The Mean is the average of the numbers. It is easy to calculate: add up all the numbers, then divide by how many numbers there are. In other words it is the sum divided by the count
- Regression Analysis – Regression analysis is used in stats to find trends in data in other word its describes the relationship between a set of independent variables and a dependent variable
- Skewness – Skewness describes the degree a set of data varies from the standard distribution in a set of statistical data.
- Kurtosis – Kurtosis is a statistical measure that defines how heavily the tails of a distribution differ from the tails of a normal distribution
- Variance – In probability theory and statistics, variance is the expectation of the squared deviation of a random variable from its mean. Informally, it measures how far a set of (random) numbers are spread out from their average value.
Uses of Statistics
- Providing a better understanding and exact description of phenomenon of nature.
- Helps in proper and efficient planning of statistical inquiry in any field of study.
- Collecting an appropriate quantitative data.
- Helps in presenting complex data in suitable tabular, diagrammatic and graphic form for an easy and clear comprehension of the data.
- It helps understanding the nature and patter of variability of the phenomenon through quantitative observations.
- Statistics helps in drawing valid inference, along with a measure of their reliability about the population parameters from the sample data.
So, that is all from my side,
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Happy Readings 😊
M. Com, MBA,