What do you understand about statistic

Dear student,
Statistics is known to be a 'science of numbers' that makes the statements of economics more comprehensive and comparable. 
The word statistics is said to have been derived form the Latin word 'Statis' which means ' a political state' or 'Statesman's art'. 
Statistics mean 'numerical information' but different schools of thought on the subject have been defined it differently which can be summed up as follows:
​​​​​​1. ​Statistics in Plural sense-  In this sense, statistics means 'numerical information' or 'quantitative statements of facts'.
2. ​Statistics in Singular sense- In this sense, statistics can be defined as collection, organisation, presentation, analysis and interpretation of numerical facts.
Hence, it can be concluded that statistics (in the sense of data)  are numerical statement of facts, capable of analysis and interpretation and statistics (in the sense of science) is a study of the methods used in collection, organisation, presentation, analysis and interpretation of numerical data. 
Regards.

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