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Posted By johnptr 3 months ago in News‘Statistics’ may mean data of some sort for a layman but it has a much broader meaning. Statistics is a kind of research methodology, which deals with collection, analysis, interpretation and presentation of data. It is applicable to a wide variety of academic disciplines, from natural and social sciences to humanities, government and business. Statistics plays a very vital role in the formulation of economic plans, estimation of industrial demand and sales figures, maintenance of the quality of products and minimization of inspection costs, forecasting agricultural production and helping studies in the field of genetics. Thus a Statistician is well versed in statistical methods and its applications. The numerous applications of Statistics make its knowledge indispensable.
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