Sir Ronald A Fisher is considered the father of statistics. Statistics is defined as a branch of mathematics dealing with the collection, analysis, and presentation of numerical data. Statistics has wide-ranging applications across many fields including social sciences, planning, mathematics, economics, business, production, finance, and accounting. The importance of statistics includes helping to collect, present, simplify, classify, and compare complex data, as well as study relationships, indicate trends, formulate and test hypotheses, and draw rational conclusions.
3. DEFINITIONS
◎ A branch of mathematics dealing with the
collection, analysis, interpretation, and
presentation of numerical data.
◎ Statistics are numerical statements of facts
in any department of enquiry placed in
relation to each other. - A.L. Bowley
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4. SCOPE OF STATISTICS
1. Social Sciences
2. Planning
3. Mathematics
4. Economics
5. Business Management
6. Production
7. Finance
8. Accounting and Auditing 4
5. IMPORTANCE OF STATISTICS
◎ It helps in collecting and presenting the
data in a systematic manner.
◎ It helps to understand complex data by
simplifying it.
◎ It helps to classify the data.
◎ It provides basis and techniques for making
comparison.
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6. ◎ It helps to study the relationship between
different phenomena.
◎ It helps to indicate the trend of behaviour.
◎ It helps to formulate the hypothesis and test
it.
◎ It helps to draw rational conclusions.
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