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15 views29 pages

Stat CH 1

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uu4643856
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Limitations of Statistics

Important of Statistics

Features of Statistics

Meaning of Statistics
Meaning and Features

Pallav Darbari
PGT :-Economics
Statistics
M.A(Eco), M.Com , MBA(Finance,HR),B.Ed
1
Topic
Meaning of
Index No.
Video 1
Statistics
Meaning of Statistics

❖ The world Statistics is derived from the Latin word Status


❖ The world Statistics convey different meaning to different people.
❖ Some regards Statistics as data, facts or measurements
❖ Some believe it is the study of figures.
❖ One thing is common that is it refers to information.
Statistics Is defined differently by different people Emphasising on the
meaning, scope and limitations.
To avoid the confusion and chaos statistics can be defined in two ways

❖ Singular sense
It refers to techniques or methods relating to
collection, classification,
Clear presentation,
❖ Plural sense.
analysis end interpretation of quantitative
data.
Statistics Is defined differently by different people Emphasising on the
meaning, scope and limitations.
To avoid the confusion and chaos statistics can be defined in two ways

❖ Singular sense

❖ Plural sense. Clear

Refers to information in terms of numbers or


numerical data
Different tools of statistics

Interpretation

Analysis

Presentation

Organisation

Collection
Topic
Features of
Index No.
Video 1
Statistics
Characteristics of Statistics in the Plural Sense

Aggregate of Facts
Numerically Expressed
Affected by many
Reasonable Accuracy Causes

Predetermined
Collect in a systematic Purpose
Manner
Aggregate of Facts:-

Single number does not constitute statistics as no conclusion can be drawn from it.

Interpretation

Analysis

Presentation

Organisation

Collection
Numerically Expressed

Statistics are expressed in terms of numbers . Quantitative aspects like honesty,


sweet, beauty, big etc. are not called statistics as it can be presented .
Affected by many causes:-

Statistics are not affected by any single factor rather influenced by many factors.
Reasonable Accuracy:-

A reasonable degree of accuracy must be kept in mind while collecting data.

Success of The business depends upon it


Pre-determined purpose

Statistics are collected with some purpose. Any information without any
definite purpose will only be a numerical value and not statistics.
Collected in a systematic Manner:-

Statistics should be in a systematic manner. Before collected plan should be


prepared relating to the source, area, time period etc. so that the enumerator
should not have any confusion.
Test Your self

1) Define statistics in Singular sense.


2) Explain the different tools of statistics
3) Define statistics in Plural Sense.
4) Write down the difference between statistics in singular sense
and Plural sense.
5) Explain the features of Statistics in Singular Sense.
Nature and Importance

Pallav Darbari
Faculty :-Economics
Statistics
M.A(Eco), M.Com , MBA(Finance,HR),B.Ed
2
Nature of statistics

Statistics is both Science and art

Because certain universal principal


is followed while:-
❖ Collecting
❖ Organising
❖ Presenting
❖ Analysing
❖ interpretation
Nature of statistics

Statistics is both Science and art

Because at the time of analysis


every analysist apply their on
concept
Scope/Subject matter of Statistics

Statistical Methods Applied Methods

It deals with the use of statistical


Under Statistical methods one use methods to specific problem.eg,
all statistical methods to make the estimate the investment and saving in
data meaningful. the country.

It can be classified into two categories 1) Descriptive Stat.


2) Scientific Applied Stat.
Descriptive applied statistics:-
Concerned with the data related to present and past

Scientific applied statistics:-


Deals with the formation of physical and psychological
Laws on the basis of data.
Limitations of Statistics

❖ Does not deal with the individual facts


❖ Deals with the Quantitative data only
❖ Misuse of statistics
❖ Statistical conclusions are true only on an average.
❖ Based on estimates and approximations
❖ Beyond the reach of an ordinary person
Does not deal with Individual facts:-
It deals with the aggregate of facts and figures , hence the study of individual facts
lies outside the scope of statistics.

Deals with quantitative data:-


Statistics are numerical expression of facts and as such quantitative phenomenon
like honesty, intelligence etc are not capable of statistical analysis.

Misuse of statistics:-
The competitors can easily get the access if it’s a graphical presentation and can
affect the working of the organisation.

Statistical conclusions are true only average:-


It is not as true and exact as the law of science.
Based on estimates and approximations:-
Statistics obtained through various statistical methods are based on estimates and
approximations, so it can not be the perfect substitution of the actual values.

Beyond the reach of an ordinary person


Statistics can only be used by an expert person. It is dangerous tool in the hands of
inexperts.
Distrust of Statistics

By distrust of Statistics is meant the lack of confidence in statistical statements and


statistical measures.

Such Misgivings are reflected in the following statements


❖ Statistics can prove any thing.
❖ Statistics are lies of first order.
❖ An ounce of truth will produce tons of Statistics.

Reasons for the distrust:-


❖ Mostly the investigators are biased.
❖ Inappropriate comparison made by the investigator.
❖ Conclusion based on inadequate data.
Importance of Statistics

❖ Statistics helps in gathering information about the appropriate quantitative data


❖ It depict the complex data in the graphical form,tabular form and in diagrammatic
representation, to understand it easily
❖ It provides the exact description and better understanding
❖ It gives valid inferences with the reliability measures about the population
parameters form the sample data
❖ It helps to understand the variability pattern through the quantitative observation
Self Assessment
1. Explain the three importance of Statistics .
2. What is meant by distrusts of Statistics.
3. Give three limitations of Statistics.
4. Explain the subject matter of Statistics
The End

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