Statistics i) Statistics are an aggregate of facts. For example, numbers in a calendar pertaining to a year will not be called statistics, but to be included in statistics it should contain a series of figures with relationships for a prolonged period. ii) Statistics are numerically enumerated, estimated and expressed. iii) Statistical collection should be systematic with a predetermined purpose: The purpose of collection of statistics should be determined beforehand in order to get accurate information.
iv) Should be capable of being used as a technique for drawing comparison: It should be capable of drawing comparison between two different sets of data by tools such as averages, ratios, rates, coefficients etc. Definitions of Statistics Statistics as a science of estimates and probabilities - Boddington Statistics may be defined as the collection, organisation, presentation, analysis and interpretation of numerical data - Croxton & Cowden Prof. P.C.Mahalanobis - - Introduction to Statistical Methods and Econometrics