This is a very kind gesture of Mr Y to conduct free of cost consultancy. This shows that he follows the value of human compassion by giving advice to the people who cannot afford these services due to income constraint.

Anju does not follow the value of not hurting others. She is a bright student but she should not harm others by stealing their belongings. This creates animosity towards students and she should be counseled by the school counselor or class teacher for her mistakes. Her parents should be informed of it and she should be given counseling with respect for reformation.

Statistics is a powerful tool to reflect the reality of facts and figures. However, it may not necessarily reflect true human values as it lacks certain qualitative aspects of life. For example, if death rate in a country decreases then to shows that medical services in the country has improved but the ethical values of medical professionals might have taken a hit as there might be cases of negligence in treatment of patients, overcharging the patients etc.

There is an interesting story which is told to make fun of statistics. It is said that a family of four persons (husband, wife and two children) once set out to cross a river. The father knew the average depth of the river. So he calculated the average height of his family members. Since the average height of his family members was greater than the average depth of the river, he thought they could cross safely. Consequently some members of the family (children) drowned while crossing the river. Similarly, a person conducted a survey and found that the places where there were larger numbers of hospitals, death rates were higher. So, he concluded that hospitals are responsible for increasing death rates. Another example can be situation when you collect data on birth rate and rainfall. You find that the years when there was higher rainfall, birth rate was high and you conclude that rainfall is one of the causes of high birth rate. Therefore, we say that statistics are not substituted for common sense.

One can understand the importance of statistics in business from the following.
1. Marketing: Statistical analysis are frequently used in providing information for making decision in the field of marketing. It is necessary first to find out what can be sold and then to evolve suitable strategy, so that the goods reach to the ultimate consumer. A skill full analysis of data on production purchasing power, man power, habits of consumers, habits of consumer, transportation cost should be considered to take any attempt to establish a new market.
2. Production: In the field of production statistical data and method playa very important role. The decision about what to produce? How to produce? When to produce? For whom to produce is based largely on statistical analysis.
3. Finance: The financial organization discharging their finance function effectively depend very heavily on statistical analysis of peat and tigers.
4. Banking: Banking institute have found if increasingly necessary to establish research department within their organization for the purpose of gathering and analysis information, not only regarding their own business but also regarding general economic situation and every segment of business in which they may have interest.
5. Investment: Statistics greatly assists investors in making clear and valued judgment in his investment decision in selecting securities which are safe and have the best prospects of yielding a good income.
6. Purchase: the purchase department in discharging their function makes use of statistical data to frame suitable purchase policies such as what to buy; What quantity to buy; What time to buy; Where to buy; Whom to buy;
7. Accounting: statistical data are also employer in accounting particularly in auditing function, the technique of sampling and destination is frequently used.
8. Control: the management control process combines statistical and accounting method in making the overall budget for the coming year including sales, materials, labor and other costs and net profits and capital requirement.

Government needs statistics in all its functions.
(a) Government needs Statistics in Administration: In a jail, record is maintained for all prisoners and others whose cases are still under trial. In military, records are required for administration and planning.
(b) Government needs Statistics for policy formulation: Policy formulation is not possible without having statistical details with us. When our finance minister needs to take a decision on fund allocation to different sectors, he needs statistics; when he wants to announce a poverty alleviation programme, he needs statistics, when he thinks of an employment policy, he needs statistics.
(c) Political Parties Need Statistics: In India, political parties also make use of statistics to gauge the priorities of their countrymen. They also use statistics to pinpoint loopholes of ruling parties and ruling parties use it to prove their efficacy and achievements.

By manipulating data, one can prove or disprove anything. Therefore, it is rightly said that there are three lies, lie, damn lie and statistics. If we start presenting data, we can prove that during 1950-1990, India made great achievements and we can also present facts in a way which will prove that we could not achieve anything during this period. Here are some examples to show how statistics are misused.
1. 50% girls of this college marry the lecturers of the college. (There were two girls, one of them married college lecturer.)
2. My result has been 100%. (Lady claiming so taught only one student).
3. Company's A's profits are double than company B's Profits. (in absolute terms they are but comparison is to be made in percentage and according to that company B's performance is better.) Therefore, one should have an expert knowledge to derive meaning of statistical statements and be cautious before relying on them.

Statistics is mostly a tool of analysis. Statistical techniques are used to analyze and interpret the collected information in an enquiry. As it is, statistics does not prove or disprove anything. It is just a means to an end. Statements supported by statistics are more appealing and are commonly believed. For this, statistics is often misused. Statistical methods rightly used are beneficial but if misused these become harmful. Statistical methods used by less expert hands will lead to inaccurate results. Here the fault does not lie with the subject of statistics but with the person who makes wrong use of it.

There are many factors which work behind statistical facts and these forces operating together. For example, statistics of employment in an economy are affected by demand and supply of labour force, working conditions, production methods used etc. Similarly if the average weight of class is 56 kg then there are many factors responsible for it- geographical, genetic, gender etc.

A single figure is not called statistics. Aggregate of facts is called statistics. It is for a simple reason that a single figure can neither be compared, nor presented nor analyzed. IfRam says that his weight is 56 kg, it is not statistics but if he says average weight of his class is 60kg, it is a statistical statement because it is backed by aggregate of facts.

Difference between Quantitative and qualitative data is given below:

In the words of Croxton and Cowden, "Statistics can be defined as the collection presentation and interpretation of numerical data." According to Bowley, "Statistics are numerical statement of facts in any department of enquiry placed interrelation to each other". The most accepted definition of statistics is one which is given by Horace Secrist. According to Horace Secrist, "By Statistics we mean aggregate of facts affected to a marked extent by multiplicity of causes numerically expressed, enumerated or estimated according to a reasonable standard of accuracy, collected in a systematic manner for a pre-determined purpose and placed in relation to each other."

In singular sense, statistics refers to the methods adopted for scientific and empirical study. According to Croxton and Cowden, "Statistics may be defined as a science of collection, presentation, analysis and interpretation of numerical data." Whenever we collect data, we also need to organize it, present it so as to make it attractive, analyze it to derive its meaning and finally interpret it to reach at right conclusions. In singular sense, statistics is summation of following:
(a) Collection of Data: It is the first step in a statistical enquiry. There are two ways of collecting data: primary and secondary. The data provide the basis of statistical enquiry. If data is biased, the entire study will become unreliable. Therefore, it has to be collected with great caution.
(b) Organization of Data: The next step after collection of data is to organize this data in a proper way. Organizing involves classification, grouping and editing.
(c) Presentation of Data: Once the collected data are organized the these are presented in a systematic manner to make statistical analysis clear and easier. Data can be presented I through tables, diagrams, graphs or pictures.
(d) Analysis of Data: After presentation data are analyzed by using averages, dispersion, correlation, regression, time series analysis etc. it helps us to reach at some conclusions on the basis of data.
(e) Interpretation of Data: It is the final stage of statistical study. In this stage data are used to derive some conclusions to take decisions.

It is very difficult to give such a definition of statistics which covers all of its characteristics. However a simple definition can be given by a layman as well. If we ask a man what is statistics, he may reply, it is numerical facts. He is also true to some extent. But it is not a complete definition. Many statisticians have also tried but there is hardly any definition which covers all its aspects. Bowley defined statistics in two ways.
(a) "Statistics is the science of counting".
(b) "Statistics may rightly be said science of averages." By giving two definitions, he proved that none of his definition is complete. But even if we take both definitions together, it is incomplete because statistics is much more than counting and averages. Broadly speaking statistics can be defined in two senses.
(a) Singular sense (b) Plural Sense
 

Our wants are unlimited but resources to satisfy them are limited. For example, your family has limited income however, you have unlimited wants. You want to buy so many goods and services which in your limited income, you cannot buy. Therefore, you have to make a choice. Similarly, you have limited time and so many uses. You want to study, play, dance, sleep, chat but you can't do all that you want in limited span of life. So you need to make choice once again.