This document provides an introduction to statistics, including definitions, objectives, functions, scope, and limitations. It defines statistics as the science of collecting, analyzing, and interpreting quantitative data. The objectives of statistics include making sense of large data sets and using data to forecast trends and examine changes. Statistics has broad applications across government, business, economics, science and other fields. However, it also has limitations such as ignoring qualitative factors and not revealing all details. The document also outlines the steps involved in a statistical investigation, including planning and executing a study.

1. FUNDAMENTALS
OF STATISTICS
Unit 1-Introduction

2. Introduction to Statistics
• Meaning & Definitions of Statistics,
• Characteristics,
• Functions, Scope and Limitations of Statistics.
• Statistical Investigation - Meaning and Steps in brief.

3. Introduction
&meaning
The word Statistics is very popularly
used in practice. It convey a variety of
meaning to people. It is considered as
numerical facts, just as a subject like
mathematics, as a symbols, formulas
and theorems or quantitative
information's, etc.,
Statistics, as a singular meaning,
refers to the statistical methods and
principles that are used in collection,
classification and analysis of
quantitative data so as to arrive valid
conclusions.

4. Definitions
As per F.E. Croxton and D.J.Cowden
“statistics may be defined as the
science of collection, presentation,
analysis and interpretation of
numerical data.”
As per Harlow “ statistics is the
science and art of handling aggregate
of facts- observing, enumerating,
recording, classifying and otherwise
systematically treating them.”

5. Objectives of statistics
• To make a sense from the
mass.
• To take action on the basis of
data
• To forecast the future trend.
• To prove unknown from the
known data.
• To examine the changes in the
particular activity.
• To draw the conclusion from
the information.

6. Functions of statistics
• It simplifies the complex data.
• It indicates future tendencies and trends or
positions.
• It collects a data in a systematically in a
definite form.
• It presents the data in a most suitable manner.
• It compare one set of data with the other.
• It guides the management in planning.
• It helps in estimating the future activities.
• It discloses the hidden facts in the mass data.

7. Scope of statistics
The scope of statistics is so vast and it is difficult to
define. The use of statistics has permeated almost
every facet of our lives. Government, businessman and
individual collect statistical data required to carry out
their activities efficiently and effectively. Let us
examine a few fields in which statistics is applied.
1. Statistics and state.
The state collects statistics on several problems. These
statistics help in framing suitable policies. All ministers
and departments of the Government whether they be
Finance, Railway, Defence, Agriculture or any other
departments, depends heavily on factual data for their
efficient functioning.

8. 2. Statistics in Business and Management.
under the present system where production is
carried on large scale, it is not possible for the
owner to see how things are going and remember
each and every aspects of the business. Hence
statistical data and statistical methods play a very
significant role in business and management.
3. Statistics and Economics:
Economics is concerned with the the
consumption, savings and investment of income.
Statistical data and statistical methods are helps
in proper understanding of the economic problems
and in the formation of economic policies.

9. 4. Statistics and Physical science, Natural science.
Statistical techniques have proved to be
extremely useful in the study of all natural science
like biology, medicine, zoology, botany, Physics
etc., Example: in diagnosing the correct disease
the doctor had to rely on factual data like
temperature of the body, pulse rate, BP, etc.,
5. Statistics and other uses:
The significant of statistics in some important
fields. Besides these statistics are useful to various
institutions such as bankers, brokers , auditors,
social workers, labour unions, trade unions etc.,

10. Limitations of statistics
• statistics ignores qualitative aspects.
• Statistics does not study individual
items.
• Statistical laws are not exact.
• Statistics does not reveal entire story.
• Statistics is liable to be misused by
users.

11. Statistical investigation
Statistical investigation is a comprehensive
process involving two important steps- planning
and Execution.
1. planning the investigation refers to the
preparing the project by considering the
following factors:
a)Purpose of enquiry. F) Techniques of collection
b) Scope of enquiry. G) Units of collection.
c)Types of enquiry. H) Accuracy of Results.
d)Frame of enquiry i) other factors.
e) Source of data.

12. 2. Execution of enquiry means bringing
the plan into action. It involves the
following steps:
a) organization.
b) Supervisory control.
c) Analysis and presentation.
d) Staff and Funds.
e) Follow up work.
f) Report.
g) Forms and materials.
h) Editing the data.

13. • REFERENCE BOOKS:
• 1. S. C. Gupta, Statistical Methods.
• 2. S. P. Gupta, Fundamentals of
Statistics.
• 3. Sanchati and Kapoor, Statistics -
Theory, Methods & Applications.
• 4. S. S. Desai, Business Statistics.
• 5. G. V. Kibhojkar, Business Statistics.
• 6. C.M. Chikkodi and Satyaprasad,
Business statistics.
• 7.Dr. Agarwal , Business statistics.