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Importance of statistics in commerce and business field?
statistics had a great role in the business and commerce field . it also had agreat role in the field of research.
What are the two fields of statistics?
there are field in education and field in business......
What is meant by statistics and their general concepts?
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What the difference between statistics as numerical facts and statistics as a discipline or field of study?
Statistics as a numerical facts are data collected and organised numerically, whilst Statistic as a discipline or field of study which involves collecting, organizing, summarizing and presenting of data.
Statistics may be regarded as the study of the reduction of the data?
The answer is generally no. I note there is no hard and fast definition of the field of statistics. The definition of the field or discipline of statistics is not to reduce the number of values in the set of collected data. An objective of statistics is to characterize or add meaning to the collected data, through calculated values of the data. In this sense, statistics summarizes the data.
