Statistics Homework Help

Statistics has been derived from the Latin word ‘status’ which means a group of numbers. It is one of those subjects which we use in everyday life, for instance in the newspaper, books, television, etc. Statistic’s scope has increased by leaps and bounds in past few years due to increase in the demand for statisticians in the market. More and more students are taking up this subject as their major. Statistics is used in almost all the fields today, such as economics, science, business, government, medicine, politics, planning, commerce, etc. The term is used in plural and in singular sense as well. In the former case, it means an organized collection of numerical facts, whereas in latter case, it refers to the science of collecting, summarizing and using statistics. Statistics is divided into five stages of investigation:-

1. A collection of data: – It is the first stage which talks about a method of collecting data.
2. Organization of data: – Data is simplified in this stage according to time and place.
3. Presentation of data: – Data is simplified in a presentable form. It is represented with the help of diagrams.
4. Analysis of data: – To get accurate result analysis is necessary. It is done using a measure of dispersion, regression, and correlation.
5. Interpretation of data: – Comparison is done which is further used for forecasting purpose.