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Neha Tikoo, Lovely Professional University Unit 1: Statistics

Unit 1: Statistics Notes

CONTENTS
Objectives
Introduction

1.1 Meaning, Definition and Characteristics of Statistics
1.1.1 Statistics as a Scientific Method
1.1.2 Statistics as a Science or an Art

1.2 Importance of Statistics
1.3 Scope of Statistics
1.4 Limitations of Statistics
1.5 Summary
1.6 Keywords

1.7 Review Questions
1.8 Further Readings

Objectives

After studying this unit, you will be able to:
Define and explain the meaning, origin and growth of statistics

Discuss the importance of statistics
State the characteristics of statistics
Discuss Statistics as a Science or an Art
Describe the limitations and scope of statistics

Introduction

Modern age is the age of science which requires that every aspect, whether it pertains to natural
phenomena, politics, economics or any other field, should be expressed in an unambiguous and
precise form. A phenomenon expressed in ambiguous and vague terms might be difficult to
understand in proper perspective. Therefore, in order to provide an accurate and precise
explanation of a phenomenon or a situation, figures are often used. The statement that prices in
a country are increasing, conveys only an incomplete information about the nature of the
problem. However, if the figures of prices of various years are also provided, we are in a better
position to understand the nature of the problem. In addition to this, these figures can also be
used to compare the extent of price changes in a country vis-a-vis the changes in prices of some
other country. Using these figures, it might be possible to estimate the possible level of prices at
some future date so that some policy measures can be suggested to tackle the problem. The
subject which deals with such type of figures, called data, is known as Statistics.

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