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Question 21 of 38

Q.What are the functions of statistics ?

Tamil Nadu DgeTamil Nadu HSC (DGE) Commerce Board 2022Subjective· 3mImportance★★★★★
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Statistics presents facts numerically, condenses and simplifies data, enables comparison, tests relationships, forecasts trends and guides policy.

The important functions of statistics are:

  1. Presents facts in numerical form: It expresses facts precisely as numbers rather than vague statements, giving them a definite and exact meaning.
  2. Condenses and simplifies data: It reduces a large mass of raw figures into a few meaningful measures (averages, percentages, indices) that are easy to grasp.
  3. Facilitates comparison: By using tools such as averages, ratios and index numbers, it allows comparison of one set of data with another.
  4. Studies relationships: Through correlation and regression it examines the relationship between two or more variables. …

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