What is the meaning of statistics in commerce?
Asked by christo francis
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Shamsul Husain Inspired by nature, it's originality and style. | Guide-Level 12
6 years agoWhenever it is the matter of mathematics or something like commerce in which a bit of mathematics is involved with some discrete or random data, you are required to handle these with statistics. Regards. -
Branch of mathematics concerned with collection, classification, analysis, and interpretation of numerical facts, for drawing inferences on the basis of their quantifiable likelihood (probability). Statistics can interpret aggregates of data too large to be intelligible by ordinary observation because such data (unlike individual quantities) tend to behave in regular, predictable manner. It is subdivided into descriptive statistics and inferential statistics.
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