Stats notes essay

But in India, it is thought, that, it started dating back to Chandra Gupta Maurya’s kingdom under Chankya to collect the data of births and deaths. TM has also been stated in Chankya’s Arthshastra. But now-a-days due to its pervading nature, its scope has increased and widened.

Statistics indispensable in economic studies. Statistical data and their analysis are used to solve a variety of economic problems such as in consumption, production, distribution of income and assets, poverty, unemployment etc. These problems are described, compared and correlated by using statistics.

This book begins with an introduction to descriptive statistics (Chapters 2–5) and then uses descriptive statistics to transition (Chapters 6–7) to a discussion of inferential statistics (Chapters 8–18). DEFINITION 4 PART I: INTRODUCTION AND DESCRIPTIVE STATISTICS

1. In Planning: Planning is necessary for efficient workmanship and in formulating future policies. Statistics provides the valued interpretation of facts and figures relevant to planning. Planning depends on forecasting the future. Statistics provides the necessary tools of estimation and forecasting. So statistics is indispensable in planning. 2.