Statistical Method: Statistical method is the systematic method which is used to organize, present, analyze and interpret the large or small volume of numerical information effectively. It is nothing but the method by which statistical data are analyzed.
Statistical method ranges from the most elementary descriptive devices which may be understood by the common man to those complicated mathematical procedure which can be apprehended only by the expert theoreticians.
According to Croxlon and Cowden statistics may be defined as “the collection, presentation, analysis and interpretation of numerical data”, however what they missed in their definition is the organization of data. Thus statistical method is the “science of collection, organization, presentation, analysis and interpretation of numerical data” and for a statistical method above five stages are essential and comprehensive.