Define Purpose of Statistics


Statistics is a discipline which has been developed by business experts, Mathematicians, Economists, Psychologists and many others to extract the relevant facts from a large body of information and to help people make decisions when uncertainty exists concerning the information.

In order to answer certain important questions or problems arising from business situations, one has to gather information or data. Thus data must be collected properly analysed efficiently presented in an orderly and coherent fashion and interpreted correctly. All these functions fall into the realm of statistics.
Broadly speaking, statistics is the study of a problem from a numerical point of view. This implies that a problem must be capable of being reduced to a measurable scale or numerical quantities, in order to use the tools and techniques of statistics.

Statistics is a scientific method whose ultimate aim is to enable comparison to be made between the past and present results, with a view to ascertain the reasons for changes which have taken place and the effect of such changes in the future. Statistics is a scientific approach to information presenting itself in numerical form which enables us to maximize our understanding of such information.

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