Statistics

Statistics is a mathematical science which deals with the collection, analysis, interpretation or explanation, and presentation of data. In ancient times, the government used to collect the information regarding the ‘population’ and ‘property or wealth’ of the country – the former enabling the government to have an idea of the manpower of the country (to safeguard itself against external aggression, if any), and the latter providing it a basis for introducing new taxes and levies.
Statistics provides tools for prediction and forecasting based on data. It is applicable to a wide variety of academic disciplines, from the natural and social sciences to the humanities, government and business. Statistics plays an important role in business, because it provides the quantitative basis for arriving at decisions in all matters. All types of banks make use of statistics for a number of purposes. Statistics has proved to be of immense use in physics and chemistry. It has given a new understanding to the essential qualities of the laws of nature. For More information on Statistics Visit our Home Science Library Wonderwhizkids/Maths/Statistics