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Applications of Statistics in Social and Economic Analysis

Statistics, as a branch of science, involves the collection, summarization, analysis, and interpretation of numerical data in quantitative form. Major categories include Social Statistics (population, education, health) and Economic Statistics (trade, finance). Uses include research, social services, investment, and more, aiding in studying, planning, and decision-making processes efficiently.

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Applications of Statistics in Social and Economic Analysis

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  1. Uses of Statistics

  2. What is Statistics? • Statistics has 2 aspects • Information in quantitative form i.e. the numbers themselves. • The branch of science dealings with the collection, summarisation, analysis and interpretation of numerical data.

  3. Major Categories of Statistics • Two major categories : • Social Statistics • Economic Statistics

  4. Major types of Social Statistics Population Housing Family Employment Income Law and order Education Health Culture and recreation Social welfare

  5. Major types of Economic Statistics • Labour and wages • External trade • Prices • Economic structure and performance of various economic sectors • Tourism • Money, banking and finance • National income

  6. Uses of Statistics Education Research Social Services Human Resource Planning Investment Management Marketing Land/Housing Development

  7. Uses of Statistics • Enable users to study and understand the social and economic situation in a more concrete and quantifiable manner • Used bygovernment in planning and administration • Used by businesses in marketing and making investment decision • Used by the general public in studying and discussing social and economic conditions in a scientific manner

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