Definition and scope of Statistics

Definition

Statistics is a branch of mathematics that deals with the collection, analysis, interpretation, presentation, and organization of data.  Statistics is used in various fields such as academics, business, mathematical, applied, and theoretical statistics. It is a set of decision-making techniques that helps businesses make suitable policies from the available data.  Statistics presents complex facts in a simplified form, making it easier to understand and interpret.

Scope of Statistics

The scope of statistics is very broad and diverse. It is the science of collecting, analyzing, and interpreting data. It is used in various fields such as academics, business, mathematical, applied, and theoretical statistics. 

The scope of statistics includes the following:

1. Presentation of data: Statistics presents complex facts in a simplified form, making it easier to understand and interpret.

2. Analysis of data: Statistics studies the relationship between two or more phenomena, making it possible to identify patterns and trends in data.

3. Decision-making: Statistics is a set of decision-making techniques that helps businesses make suitable policies from the available data.

4. Prediction: With the help of statistical methods, quantitative information about production, sale, purchase, finance, etc. can be obtained. This type of information helps businessmen in formulating suitable policies.

5. Control: A large part of modern business is being organized around systems of statistical analysis and control.