Why it is important to study statistics?
The field of statistics is the science of learning from data. Statistical knowledge helps you use the proper methods to collect the data, employ the correct analyses, and effectively present the results. Statistics allows you to understand a subject much more deeply. …
What are the two major purposes of statistics?
This data can then be subjected to statistical analysis, serving two related purposes: description and inference. Descriptive statistics summarize the population data by describing what was observed in the sample numerically or graphically.
What is the importance of statistics in different fields?
Statistics plays a vital role in every field of human activity. Statistics helps in determining the existing position of per capita income, unemployment, population growth rates, housing, schooling medical facilities, etc., in a country.
What is the main limitation of statistics?
Statistics deal with groups and aggregates only. 2) Statistical methods are best applicable to quantitative data. (3) Statistics cannot be applied to heterogeneous data. (4) If sufficient care is not exercised in collecting, analyzing and interpreting the data, statistical results might be misleading.
What are the disadvantages of statistics?
8 Main Limitations of Statistics – Explained!
- Qualitative Aspect Ignored:
- It does not deal with individual items:
- It does not depict entire story of phenomenon:
- It is liable to be miscued:
- Laws are not exact:
- Results are true only on average:
- To Many methods to study problems:
- Statistical results are not always beyond doubt:
What are the five main stages of statistical method?
There are five main stages of Statistical method. Those are – (1) Data collection, (2) Data organisation, (3) Data presentation, (4) Analysis (5) Interpretation. The collection of data can be done through sample techniques or by taking a census.
What is the third stage of statistical study?
1 Answer
| Stage | statistical study | statistical tools |
|---|---|---|
| Stage-2 | Organisation of data | Array of data and tally bar |
| Stage-3 | Presentation of data | Tables, graphs & diagrams |
| Stage-4 | Analysis of data | Percentage, averages |
| Stage-5 | Interpretation of data | Magnitude of percentage, average, degree of relationship between variables. |
What are the scope of statistics?
Statistics are numerical statement of facts capable of analysis and interpretation as well as study of the methods used in collection, organization, presentation, analysis and interpretation of numerical data. It is often said that “Statisticians is what Statisticians do”.
What should I do after BSc statistics?
What to pursue after B.Sc. Statistics?
- MCA (if interested in coding)
- MBA or PGDM.
- M.Sc Actuary Science.
- M.Sc. in Mathematics.
- M.Sc. in Statistics.
- M.Sc. in Econometrics.
- UGC NET Exam.
- Joint M.Sc. PhD.
What is the scope of statistics now a days?
Scope of Statistics: Statistical data and techniques of statistical analysis are immensely useful in solving economical problems such as wages, price, time series analysis, demand analysis. It is an irreplacable tool of production control. Industry statistics are widely used in equality control.
Which course is best after BSc statistics?
Top Academic Courses to Pursue After B.Sc
- M.Sc (Master of Science) This is the most obvious choice for B.Sc graduates for higher studies.
- MCA (Master of Computer Application)
- MBA (Master of Business Administration)
- Data Science.
- Machine Learning.
- Management.
What are the two components of the subject matter in statistics?
Subject matter of statistics includes two components: Descriptive Statistics and Inferential Statistics.
What is BCOM statistics?
B.Com Statistics – Stands for Bachelor of Commerce in Accountancy and Statistics. Subjects typically studied under this degree are financial management, financial accounting, business management, costing and statistics.
Is BCom or BBA better?
At the graduate level, B.Com offers better job opportunities as compared to BBA. Although there are various job opportunities after BBA, the chances of getting a decent job are much better after a student has pursued an MBA. The salary will depend on the college as well as the post offered.
Which course is best with BCom?
- Chartered Accountancy (CA)
- Company Secretary (CS)
- Master of Commerce (M.Com)
- Chartered Financial Analyst (CFA)
- Business Accounting and Taxation (BAT)
- Certified Management Accountant (CMA)
- US Certified Public Accounting (CPA)
- Financial Risk Manager (FRM)