The scope of statistics is much extensive.  It can be divided into two parts

1. Statistical Methods:

Such as Collection, Classification, Tabulation, Presentation, Analysis, Interpretation and Forecasting.

2. Applied Statistics:

It is further divided into three parts:

2.1 Descriptive Applied Statistics:

Purpose of this analysis is to provide descriptive information.

2.2 Scientific Applied Statistics:

Data are collected with the purpose of some scientific research and with the help of these data some theory or principle is propounded.

2.3 Business Applied Statistics:

Under this branch statistical methods are used for the study, analysis and solution of various problems in the field of business.

business statistics

May 27, 2017