**Statistics**

** The statistical interpretation of numerical details is called Statistics.**** **

**Statistics can be defined in two ways.**

**In the meaning of singular, statistics are from statistical methods, such as compilation of data, organization, classification, analysis and interpretation.**

**Statistical in the meaning of plural, statistics mean the systematic stored numerical facts.**

**Area of statistics**

**Use of statistics in ancient times only by the kings to administer their own administration**

**But the importance of statistics has increased in today’s era and all those**

**In areas where numerical facts are used, it has spread like**

**Economics, industry, commerce, physics, chemistry etc. Human economic activities**

**There is no such area where statistics are not used.**

**Importance of Statistics in Economics**

**It makes the economist able to present financial facts in a precise form.****Help reduce the number of figures in the form of some numerical measurements****Use of Statistics to find out the relation between various economic factors.****Economists are able to predict financially through numerical studies.****Statistics are helpful in the creation of economic policies, which help in economic problems m****ay be the solution.**

**Helps in reviewing the results of prior economic policies.**

**Work of statistics**

**Statistics simplifies complexity.****Statistics reveals facts as numbers.****Statistics summarize summo form.****Statistics compile and relate them in various syncretes.****Statistics is helpful in determining policy.****Statistics are helpful in economic forecast.**

**Statistical limitations**

**Statistics do not study individual units.****Statistical conclusions can cause confusion.****Statistical rules are only true on average.****Statistics only studies numerical facts.****Use of statistics is only possible by experts.****Synthesis of symmetry and homogeneity is required.****Misuse of statistics is the biggest limit. Because the wrong thing can also prove to be correct by statistics.**

nice activity done by u but we need some material on the guideline for rupees role in our exonomy

nice activity done by u but we need some material on the guideline for rupees role in our exonomy