Adobe Scan 21 Dec 2023
Adobe Scan 21 Dec 2023
STATISTICS:
Definitions, Characteristics and Scope
arrangement of data
In ancient times use of statistics was limited to the scope and
the
related to administration of government onlv, but in due course occupied an
now
utility of statistics have widened significantly. Statistics hassocial
economic, political, and natural
importarnt place in the study of all, i.e., the field of business
sciences. In this context, statistics has become very useful in finalise decisions
management also. The basic problem of the management is to provide help im
in the midst of uncertainty and statistical tools have capacity to
exaggeration to say
taking such decisions. According to Ya-Lun-Chou, "It is not the aid of statistical
with
that today nearly every decision in business is made
dataand statistical methods.
responsiblilities
Modern business has become increasingly complex and the As the size of
greater.
of business executives have become correspondingly management well informed
business unit increases, the task of keeping higher techniques play
methods and
becomes very important. Statistical data,information
significant role in providing quantitative in a precise and an
effective manner.
MEANING OF STATISTICS