Statistics
Chapter 12: Chapter 11 · ECONOMICS · EN medium
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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.
📖 Class 12 Economics English Medium 2024 Edition www.tntextbooks.in · Page 264
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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
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