Nature and Scope of Statistics

 Statistics is a very very old discipline.It has been used more than 500 years.The word Statistics is derive from Latin words Statista which means political state or Government.

According to me-Statistics is a modern science which is used to collect classify, present, interpret data into information to perform the function of business by economical way.

Nature-

1.It belongs to facts,figure,data.

2.It is science.

3.It is an art.

4.It is a systematic subject.

5.It changes data into information.

Scope-

The scope of Statistics is very wide. It is used many different sectors. Some important scope is as below-

1.It makes planning,Planning is the combination of policy, procedure,rules,regulation.law.With the help of Statistics Manager makes proper plan.

2.It makes business more effective.-Business ts the process of performing any work on the behalf of money.Statistics help us to perform the function of business by effective way.. 

3.It solves economic problem-There are many economic problem present in every country. These problems belong to Production, Consumption, Wages, Price, Unemployment, Poverty,Tax etc.Statistics gives us many techniques to collect analysis of concern data and solve the problem.

4.It makes effective administration-Administration implements policy,rules,regulation by effective way.With the help of Statistics we know the problem that is present on the path of implementation of policy.We remove the problem and implement policy.

5.It provides successful research-Research is the process of finding new knowledge, idea to perform any work.Statistics help us to collect, analyse concern data and produce success research.

6.It is used in Accounting and Auditing.Auditing is the process of choosing and evaluating the sample for verifying the correctness.With the help of Statistics we select sample size for checking the error.

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