CBSE Class 11-commerce Answered

The scope of statistics includes:

1. Nature of Statistics:  This includes whether statistics is a science or an art.

As a science, statistics studies numerical data in a scientific and systematic manner.

As an art., statistics relates to quantitative data to real life problems.

2. Subject Matter of Statistics: It includes two components, descriptive statistics and inferential statistics.

Descriptive statistics, refers to the methods which are used to collection, analysis and presentation of data.

Inferential statistics refers to all such methods by which conclusions are drawn relating to the population on the basis of a sample.

3. Limitations of Statistics
Some of the limitations of statistics include, statistics studies numerical facts only, results are true only on an average, homogeneity of data is an essential requirement, statistics can be used by only experts.