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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.
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