List the characteristics of statistics.
Important Points to Remember in Chapter -1 - Scope of Statistics and Types of Data from Tamil Nadu Board Statistics Standard 11 Solutions
1. Statistics:
It is the method for collecting, organizing, summarizing, presenting, analyzing and interpreting of data.
2. Different Definitions of statistics:
(i) Statistics is the science of counting’
(ii) Statistics is the science which deals with the collection, presentation, analysis and interpretation of numerical data
(iii) Statistics is a body of methods for making decisions in the face of uncertainty
(iv)Statistics is a method of decision-making in the face of uncertainty on the basis of numerical data and calculated risk.
3. Characteristics of statistics:
(i) Aggregate of facts collected in systematic manner for a specific purpose.
(ii) Affected by large number of causes to marked extent.
(iii) Numerically expressed.
(iv) Enumerated or estimated with a reasonable degree of accuracy.
(v) To be placed in relation to the other.
4. Functions of Statistics:
(i) Collection: Data should be carefully and scientifically collected
(ii) Classification: Grouping based on similarities
(iii) Condensation: Summarizing without loosing any information.
(iv) Comparison: To identify the best one and checking for the homogeneity of groups.
(v) Correlation: To find the relationship among the variables.
(vi) Causation: To evaluate the impact of independent variables on the dependent variables.
(vii) Chance: To decide correctly under uncertainty.
5. Scope and Applications:
(i) Statistics and actuarial science
(ii) Statistics and Commerce
(iii) Statistics and Economics
(iv) Statistics and Medicine
(v) Statistics and Agriculture
(vi) Statistics and Industry
(vii) Statistics and Information Technology
(viii) Statistics and Government
6. Applications of Big Data:
(i) Smarter Healthcare
(ii) Retail
(iii) Manufacturing
(iv) Traffic control:
(v) Search Quality
7. Variable and Types of Data:
(i) Variable: It has different value for different instances.
(ii) Quantitative Data: Data measured on a natural numerical scale.
(iii) Qualitative Data: Data cannot be measured on a natural numerical scale.
8. Measurement Scales:
(i) Nominal scales: Measurement used to label a variable without any ordered value.
(ii) Ordinal scales: The order of the values is used but the differences between each one is unknown.
(iii) Interval scales: An interval variable has the numerical distances between any two numbers.
(iv) Ratio scales: Central tendency and measures of dispersion can be calculated.
