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.
May 27, 2017