NATURE OF STATISTICS

Several Scholars of the subject ‘Statistics’ have attempted to describe what the subject is. It should be noted that the subject ‘Statistics’ is wide or is a wide area among many others of the applied mathematics with its theorems, symbols and notations. Some of the definitions given by various scholars include:

• Statistics is the aggregation of facts affected to marked extent of multiplicity of courses, numerically expressed, enumerated or estimated according to the reason standard of accuracy collected in systematic manner for a pre-determined purpose and placed in relation to each other
• Statistics is the science which deals with collection, analysis and interpretation of numerical data
• Statistics is concerned with method for treating numerical data that have been collected in observation taken in the form of measurement or count so that meaningful conclusions are drawn from such data There could be many more definitions by scholars. We notice three important facts common to these definitions
• Statistics is concerned with the technique by which information is collected, organised and interpreted
• Most information analysed is quantitative data collected from the process of sampling
• The essence of statistical interpretation of processed data is decisionmaking under the condition of uncertainty

Given the above background and for the purpose of this course, we can define Statistics as follows: Statistics refers to the collection, presentation, analysis and utilization of numerical data to make inference and brief decision in the face of uncertainty (in Economics, businesses and other social sciences and biological, agricultural and physical sciences).

The data collected are usually in the form of tabulation or corresponding variables and as we know in due course, such table can be represented by formular or graphs from a collection of data. We make a table and from this we may draw a graph, we may proceed to draw an algebraic relation between the variables using a formular.

Thus Statistics is concerned with the planning of a programme of data collected by the process of sampling, presentation of the collected data in a graph, tabulation or other forms, analysing the data and drawing conclusions which may be valued or otherwise for appropriate decisionmaking. Although the above definition is all-embracing with regards to the areas of statistical application, we shall lay emphasis on application in Economics, other social sciences and business.