Statistics as a science of estimates and probabilities

**Definitions of Statistics**

The term ‘Statistics’ is used in two senses: as singular and
plural. In singular form it simply means statistical methods. Statistics when
used in singular form helps in the collection, presentation, classification and
interpretation of data to make it easily comprehensible. In its plural form it
denotes collection of numerical figures and facts. In the narrow sense it has
been defined as the science of counting and science of averages. AnotherX̅ meaning
is sample characteristics like X(Bar) , s….. while parameter is used to
refer to population characteristics like M,σ ….

**Definitions of Statistics**

*Statistics as a science of estimates and probabilities *

- Boddington

*Statistics may be defined as the collection, organisation,
presentation, analysis and interpretation of numerical data *

- Croxton & Cowden

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 : Definitions of Statistics | Economics

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