Functions of Statistics:
Statistics is used for various purposes
. It is used to simplifymass data and to make comparisons easier. It is also used tobring out trends and tendencies in the data as well as the hiddenrelations between variables. All this helps to make decisionmaking much easier.
Statistics simplifies mass data
The use of statistical conceptshelps in simplification of complex data. Using statistical concepts,the managers can make decisions more easily. The statisticalmethods help in reducing the complexity of the data andconsequently in the understanding of any huge mass of data.
Statistics makes comparison easier
Without using statisticalmethods and concepts, collection of data and comparison cannotbe done easily. Statistics helps us to compare data collected fromdifferent sources. Grand totals, measures of central tendency,measures of dispersion, graphs and diagrams, coefficient of correlation all provide ample scopes for comparison
Statistics brings out trends and tendencies in the data
Afterdata is collected; it is easy to analyze the trend and tendencies inthe data by using the various concepts of Statistics.