Sample Solution from
Statistics for Business and Economics (13th Edition)
13th Edition
ISBN: 9780134506593
Chapter 1
Problem 1.1LM
Try another sample solution
Textbook Problem

What is statistics?

Expert Solution
To determine

To determine: The statistics.

Explanation of Solution

Explanation:

Justification:

Statistics:

Statistics is defined as the ‘science of data’, which deals with collection, classification, summarization, organization and analysis of data, interpretation of numerical and categorical data, along with inferring about the nature of the data.

For an example, a researcher wants to find the average height of students of 7th grade of a certain school. The researcher collects the height of all students of 7th standard. Now the data should be organized in a well-defined manner or grouped into classes. The researcher uses statistics (mean) to find the average heights of the students, infer about the heights of 7th grade students in general, and makes a conclusion.

Not sold yet?Try another sample solution