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DEFINITION OF STATISTICS, IMPORTANCE & LIMITATIONS
How does the Indian Statistical Institute define statistics?
Statistics is defined as the science of collection, presentation, analysis, and interpretation of numerical data to assist in making better decisions.
Who coined the term 'statistics' and from which Latin word is it derived?
Gottfried Achenwall; derived from Latin word 'status' meaning state.
What distinguishes statistics as a 'science' rather than mere data collection?
Statistics is a science because it follows systematic methods and logical reasoning to draw valid inferences from numerical data, not just accumulate numbers.
What is the definition of statistics given by Bowley?
Statistics is the science of counting and measurement of social phenomena.
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