Statistics presents facts in a definite form.

**Characteristics and Functions of Statistics**

**i) Statistics are an aggregate of facts. **For example, numbers in
a calendar pertaining to a year will not be called statistics, but to be
included in statistics it should contain a series of figures with relationships
for a prolonged period.

**ii) Statistics are numerically enumerated, estimated and
expressed.**

**iii) Statistical collection should be systematic with a
predetermined purpose: **The purpose of collection** **of statistics should be
determined beforehand in order to get accurate information.

**iv) Should be capable of being used as a technique for drawing
comparison: **It should be capable of drawing comparison between two different
sets of data by tools such as averages, ratios, rates, coefficients etc.

·
Statistics presents facts in a definite form.

·
It simplifies mass of figures.

·
It facilitates comparison.

·
It helps in formulating and testing.

·
It helps in prediction.

·
It helps in the formulation of suitable policies.

Tags : Economics , 12th Economics : Chapter 12 : Introduction to Statistical Methods and Econometrics

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12th Economics : Chapter 12 : Introduction to Statistical Methods and Econometrics : Characteristics and Functions of Statistics | Economics

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