Question 24 of 38
Q.What are the functions of Statistics ?
Tamil Nadu DgeTamil Nadu HSC (DGE) Commerce Board 2023Subjective· 3mImportance★★★★★
63% · 24/38 Questions
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Start your 14-day free trial to unlock the full solution →Statistics presents facts precisely, simplifies large data, aids comparison, studies relationships, guides policy and enables forecasting.
The main functions of statistics are:
- Presents facts in definite form: numerical statements are more convincing and precise than vague general statements.
- Simplifies mass of data: large, complex data are condensed into averages, ratios, totals and graphs that are easy to understand.
- Facilitates comparison: tools like averages, percentages and ratios allow different sets of data to be compared over time or place.
- Studies relationships: techniques such as correlation and regression reveal the relationship between two or more variables.
- Helps in formulating policies: governments and firms base plans and policies on statistical data. …
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