This document discusses statistics, including its definition as a branch of mathematics dealing with data collection, organization, analysis, interpretation and presentation. It then provides examples of how statistics are important in financial markets, quality testing, and election predictions. Next, it defines classification as the grouping of related facts into classes and describes four methods of classification: geographical, chronological, qualitative, and quantitative. Finally, it lists three limitations of statistics, which are that it concerns quantitative data, does not study individuals but aggregates, and requires experts to properly handle statistical data.

1. Statistics
Statistics is a branch of mathematics dealing with data collection,
organization, analysis, interpretation and presentation.
Importance of Statistics
1. Financial market also statistic plays a great role. Statistics are the
key of how traders and businessmen invest and make money.
2. Statistical concepts are used in quality testing. Companies make
many products on a daily basis and every company should make sure
that they sold the best quality items. But companies cannot test all the
products, so they use statistics sample.
3. News reporter makes a prediction of winner for elections based on
political campaigns. Here statistics play a strong part in who will be
your governments.

2. Classification of Data
Classification is the grouping of related facts into class.
Methods of Classification of Data
1. Geographical Classification
This data is classified on the basis of area or place, and as such, this
type of classification is also known as areal or spatial classification.
The areas may be in terms of countries, states, districts, or zones
according as the data are distributed.

3. 2. Chronological Classification
The data collected are classified on the basis of time of their
occurrence.This type of classification is suitable for chose data which
take place in course of time viz. population, production, sales, results
etc.
3. Qualitative Classification
The data obtained are classified on the basis of certain descriptive
character or qualitative aspect of a phenomenon viz. sex, beauty,
literacy, honesty, intelligence, religion, eye-sight etc.

4. 4. Quantitative Classification
The collected data are classified on the basis of certain variable viz.
mark, income, expenditure, profit, loss, height, weight, age, price,
production etc. which is capable of quantitative.

5. Limitation of Statistics
1. It concern with Quantitative Data.
2. It doesn't Study individuals. {Aggregates}
3.Only Experts Can handle statistical data properly.