Functions of Statistics
Seven key functions of statistics \u2014 simplifying complex data, presenting facts in definite form, enabling comparison, facilitating planning, forecasting, hypothesis testing, and enlarging knowledge.
The Seven Functions of Statistics
1
To Simplify Complex Facts
Statistical methods present great masses of complex data in simple and understandable form.
Statistical techniques like mean, median, correlation, graphs, etc. make complex data intelligible in a short period and better way.
2★
To Present Facts in Definite Form
Quantitative facts are more easily believed and trusted than abstract/qualitative facts. Statistics summarises generalised facts in a definite form.
"Annual rate of inflation in a country is 10%" is more convincing than "prices are rising."