'Statistics' means numerical presentation of facts. Its meaning is divided into two forms - in plural form and in singular form. In plural form, 'Statistics‘ means a collection of numerical facts or data example price statistics, agricultural statistics, production statistics, etc. In singular form, the word means the statistical methods with the help of which collection, analysis and interpretation of data are accomplished.
Characteristics of Statistics -
a) Aggregate of facts/data
b) Numerically expressed
c) Affected by different factors
d) Collected or estimated
e) Reasonable standard of accuracy
f) Predetermined purpose
g) Comparable
h) Systematic collection.
Therefore, the process of collecting, classifying, presenting, analyzing and interpreting the numerical facts, comparable for some predetermined purpose are collectively known as "Statistics"
