ABSTRACT
We know that statistical data is nothing but a random sample of observations drawn from a Population described by a random variable whose probability distribution is unknown or partly unknown and we try to know about the properties of the population on the basis of knowledge of the properties of the sample. This inductive process of going from known sample to the unknown Population is called “Statistical Inference”. The present paper gives overviews of thestatistical tools for t-test,X -test and F-test and their applications in various numerical data.Statistical analysis is expected to make an important contribution to solving major Socio- economic development and activities to build for good planning and better decision – making valid Inference. Hence, it is the branch of statistics concerned with mathematical facts and data related to Business and Economic development events.