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Associate Professor
Management Faculty
S&H Department
VIVA-VVIT-Nambur
Guntur-A.P
9394969898
Introduction to Statistics
“the study of
mankind in the
ordinary business
of life.”
Definition Of Economics
“Economics is the study of how people and society
choose to employ scarce resources that could have
alternative uses in order to produce various
commodities that satisfy their wants and to distribute
them for consumption among various persons and
groups in society.”
Ordinary Business Of Life
Economics is a study of mankind in
the ordinary business of life.
In singular sense:
“Statistics may be defined as the collection, organisation,
presentation, analysis and interpretation of data”
In plural sense:
Statistics refers to information in terms of numbers or
numerical data such as population statistics.
Scope Of Statistics
1. In Planning: Planning is the combination of vision,
goals, objectives, strategies, policies, etc. Statistics
helps to get the necessary information about the
planning which depends upon the analysis of
statistical data.