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# Characteristics and Functions of Statistics

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.

## Functions Of Statistics

·            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