Scope of Statistics

Scope of Statistics Statistics is applied in every sphere of human activity – social as well as physical – like Biology, Commerce, Education, Planning, Business Management, Information Technology, etc. Statistics and Economics Statistical data and techniques are immensely useful in solving many economic problems such as fluctuation in wages, prices, production, distribution of income and wealth and so on. Statistics and Firms Statistics is widely used in many firms to find whether the product is conforming to specifications or not. Statistics and Commerce Statistics are life blood of successful commerce. Market survey plays an important role to exhibit the present conditions and to forecast the likely changes in future. Statistics and Education Statistics is necessary for the formulation of policies to start new courses, according to the changing environment. There are many educational institutions owned by the Govt and the private individuals engaged in research and development work to test the past knowledge and evolve new knowledge. These are possible only through statistics. Statistics and Planning: Statistics is indispensable in planning. In the modern world, which can be termed as the “world of planning”, almost all the organisations in the government are seeking the help of planning for efficient working, for the formulation of policy decisions and execution of the same. In order to achieve the above goals, various advanced statistical techniques are used for processing, analyzing and interpreting data. In India, statistics play an important role in planning, both at the central and state government levels, but the quality of data is highly unscientific. - - Introduction to Statistical Methods and Econometrics