Chapter 1: Introduction to Business Statistics
Chapter 1: Introduction
1. Origin of Statistics:
The word Statistics seems to have been derived from Latin word ‘Status’, German word ‘Statistik’ or Italian word ‘Statista’. Each of these means “Political State’. In ancient time governments used to collect the information regarding the population & the property of the State.
In India an efficient system of collecting official and administrative statistics existed even more than 2000 Years ago, in particular, during the period of Chandra Gupta Maurya (324 – 300 BC). From Kautilay’s Arthashastra it is known that even before 300 BC a very good system of collecting Vital Statistics and registration of Births and Deaths was in vogue. Raja Todormal (1556-1605 AD), the land & revenue minister of Akbar, maintained good records of Land and Agriculture Statistics.
In Germany, the Systematic collection of official statistics originated towards the end of 18th century. They collect data to have an idea of the relative strength of different German states, information regarding population, output of Industrial & Agricultural sector.
In England
Statistics were the outcomes of Napoleonic war.
Vital Statistics Originated at 17th century. Captain John Graunt (of London) (1620-1674) – Father of Vital Statistics, the first man who studied about the statistics of Births & Deaths. Computation of mortality tables and the calculation of Expectation of life of different ages by a number of persons, viz. Casper Newman, Sir William Petty, James Dodson, Dr. William Price.
In 1698, the first Life Insurance was found in London.
2. Developments of Statistics:
The theoretical development of so-called modern Statistics came during the mid 17th century with the introduction of ‘Theory of Probability’ and ‘theory of Games & Chance’. The chief contributors are being Mathematicians & Gamblers of France, Germany and England.
Problems of Points – The France Mathematician Pascal (1623-1662) after long correspondence with
1. Origin of Statistics:
The word Statistics seems to have been derived from Latin word ‘Status’, German word ‘Statistik’ or Italian word ‘Statista’. Each of these means “Political State’. In ancient time governments used to collect the information regarding the population & the property of the State.
In India an efficient system of collecting official and administrative statistics existed even more than 2000 Years ago, in particular, during the period of Chandra Gupta Maurya (324 – 300 BC). From Kautilay’s Arthashastra it is known that even before 300 BC a very good system of collecting Vital Statistics and registration of Births and Deaths was in vogue. Raja Todormal (1556-1605 AD), the land & revenue minister of Akbar, maintained good records of Land and Agriculture Statistics.
In Germany, the Systematic collection of official statistics originated towards the end of 18th century. They collect data to have an idea of the relative strength of different German states, information regarding population, output of Industrial & Agricultural sector.
In England
Statistics were the outcomes of Napoleonic war.
Vital Statistics Originated at 17th century. Captain John Graunt (of London) (1620-1674) – Father of Vital Statistics, the first man who studied about the statistics of Births & Deaths. Computation of mortality tables and the calculation of Expectation of life of different ages by a number of persons, viz. Casper Newman, Sir William Petty, James Dodson, Dr. William Price.
In 1698, the first Life Insurance was found in London.
2. Developments of Statistics:
The theoretical development of so-called modern Statistics came during the mid 17th century with the introduction of ‘Theory of Probability’ and ‘theory of Games & Chance’. The chief contributors are being Mathematicians & Gamblers of France, Germany and England.
Problems of Points – The France Mathematician Pascal (1623-1662) after long correspondence with