Abm Definition Of Statistics, Importance & Limitations
Chapter notes, video classes, MCQ practice tests and quick-revision one-liners for Advanced Bank Management — CAIIB.
One-liners from this chapter
Free sample — 8 of 65 rapid-fire Q&A cards.
How did Croxton and Cowden define statistics?
Croxton and Cowden defined statistics as the collection, presentation, analysis, and interpretation of numerical data.
What is the definition of statistics given by Horace Secrist?
Statistics are aggregates of facts affected by multiple causes.
What is the singular meaning of the term 'statistics'?
In its singular sense, statistics refers to the science of collecting, organizing, presenting, analyzing, and interpreting numerical data to assist in making more effective decisions.
What are 'statistics' in the plural sense primarily concerned with?
Numerical data collected systematically for a definite purpose.
What is the plural meaning of the term 'statistics'?
In its plural sense, statistics refers to numerical facts or data themselves, such as population figures, bank deposit figures, or export-import data.
What is the definition of statistics as a science given by Lovitt?
Science of collecting, classifying, and using data to draw inferences.
What does A.L. Bowley's definition of statistics emphasize?
A.L. Bowley emphasized that statistics may be called the science of counting, the science of averages, or the science of measurement of social phenomena.
Which branch of statistics deals with summarising data without drawing conclusions?
Descriptive statistics.
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