Chapter 11
Introduction to Statistics
Multi choice questions
- The word statistics is used as
- Singular .
- Plural .
- Both of the above .
- None of the above .
- Statistics deals with
- Qualitative data.
- Quantitative data.
- Both A and B.
- None of A and B .
- The statistical method to analyse the data may be
- Explanatory .
- Non-explanatory.
- Both A and B.
- None of A and B .
- Origin of word statistics is from which language?
- French.
- English.
- Russian.
- Latin .
- In how many ways statistics can be defined?
- Only one.
- Two.
- Three.
- None of the above .
- Statistics is what form of noun ?
- Singular .
- Plural.
- Both A and B.
- None of A and B.
- Statistics is an aggregate of
- Songs .
- Numbers .
- Facts .
- None of the above .
- How many types of data are there ?
- One.
- Two .
- Three .
- Four .
- Statistics are
- Musics .
- Numerical data.
- Facts .
- None of the above .
- Who is known as father of modern economics
- Adam Smith.
- Alfred Marshal.
- JB Say .
- JM Keynes .
- Statistics can
- Prove anything
- Disprove anything .
- Neither prove nor disprove, its a tool.
- None of these.
- Which one of the following is different from others
- It does not deal with individuals .
- It facilitates comparison.
- It can be misused .
- It deals with quantitative characteristics .
- Select the wrong statement
- Human wants are unlimited .
- Poverty is the cause of all economic problems .
- Resources have multi use .
- Statistics is known as political arithmetic .
- What is the nature of statistics ?
- Art .
- Science .
- Art and Science .
- None of the above .
- Find the odd one
- Honesty .
- Attitude .
- Aptitude .
- Income .
- Can qualitative fact be statistics ?
- How many stages are there of statistical study ?
- Write two techniques of collection of data.
- Write down the names of components of subject matter of statistics ?
- What is Economics all about ?
- Can you define scarcity ?
- Due to its elaborate size into oral type statistics is defined ?
- How statistics is defined in singular form ?
- How statistics is defined in plural form ?
- What do you mean by presentation of data ?
- What are the statistical tools ?
- What is mean by Economics?.
- What is the relationship between Economics and Statistics ?.
- For the systematic and scientific analysis of economic variables.
- For economic and development planning.
- For decision making in economics.
- For framing economic policies..
- For economic forecasting.
- For leading government intervention in right direction.
- Explain the relationship of scarcity and choice.
- Explain economic activities.
- Comment on subject matter of statistics.
- Write down the limitations of statistics.
- Statistics studies only facts those with numbers.
- Statistical study only aggregate of facts not any alone or individual data.
- Statistical results are true only on an average.
- It does not reveal the entire story of the problem.
- Its methods can be used only by an Expert.
- Statistical methods are no substitute for common sense. Comment..
- What are the reasons for studying economics ?
- How will you choose the wants to be satisfied ?
- The government and policy makers use statistical data to formulate suitable policies of economic developments.” Illustrate with two examples.
- You have unlimited wants and limited resources to satisfy them. Explain by giving two examples.
- Explain the economic circle.
- Define statistics.
- What are the stages of statistical study?
- Collection of data
- Organisation of data
- Presentation of data
- Analysis of data
- Interpretation of data
- Do you consider yourself as a consumer ?Why ?
- What are the different kind of scarcity that you face in your daily life ?
- What are statistical methods? Write down the statistical tools of each stage of study of statistics .
- What is the importance of statistics in economic planning.
- “Statistics is defined as the science which deals with the analysis of statistical data”. Evaluate with example.
- Distinguish between economic and non economic activities.
- Define the terms Consumption, Production and Distribution.
- What are the reasons for distrust of statistics ?
- Lack of confidence in Statistical statements and statistical methods
- Statistics can prove anything
- Whether statistics is good or bad depend on its use.
Answer:
C. Both of the above
Answer:
B. Quantitative data.
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A. Explanatory
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D. Latin
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B. Two
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C. both A and B
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C. Facts
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B. Two
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B. Numerical data
Answer:
A. Adam Smith
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C. Neither prove nor disprove, its a tool.
Answer:
B. It facilitates comparison.
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B. Poverty is the cause of all economic problems .
Answer:
C. Art and Science .
Answer:
D. Income .
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Qualitative fact can not be statistics.
Answer :
There are five stages.
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Sampling and Census.
Answer :
Statistical methods and Applied Statistics.
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Economics is all about people and the choices they make.
Answer :
Choice is the act of selecting among alternatives.
Answer :
In to two types- Singular sense and Plural sense.
Answer :
In singular form statistics is defined as the techniques or methods which relates to the collection, classification, presentation, analysis and interpretation of quantitative data.
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In plural form statistics means quantitative data affected to a marked expert by multiplicity of causes.
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By presentation of data we mean to present the collected data after classification through tables, graphs, diagrams.
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Statistical tools refers to the techniques or methods used for the collection, organisation and presentation, analysis and interpretation of the data as well.
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Economics is a part of social science which deals with economic activities like production, consumption, distribution, exchange and capital formation.
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Statistics makes use of economic data for drawing meaning ful inferences. This is the relationship between economics and statistics. In economics, variables like input, output, income, consumption etc. are systematically and scientifically analysed and studied with the tool of statistics. In development planning, at various stages, use of statistical methods of analysis and decision making has become indispensable. The importance of statistics in economics is given below .
Answer:
These are the two essential ingredients of an economic topic. Goods are scarse because desire for them far outstrips their availability from nature. Scarcity prevents us from having as much of everything as we would like, we must choose among alternatives available to us. Any choice involving the use of scarce resources requires an economic decision.
Answer :
In economics we study the different types economic activities. Economic activities are those activities which are concerned with the acquiring and use of wealth. These economic activities are the most important part of the subject matter of economics. It includes consumption, production, exchange and distribution.
Answer :
Subject matter of statistics is divided into two parts.
Statistical methods:
Under this we study all the methods we use from the collection of the data till interpretation of result from the data.
Applied statistics:
Under this we cover the practical use of method in our life. For example use of method to find out the inflation rate in future etc. Applied statistics can be of descriptive and scientific nature. Descriptive statistics is related with the past and present whereas scientific statistics is related with the assumptions and conclusions related with future.
Answer :
Limitations of statistics are,
Answer :
Statistical methods are no substitute for common sense. In the support of this comment there is an interesting story. It is said that a family of four persons i.e husband, wife and two children once set out to cross a river. The father knew the average depth of the river. So he calculated 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 drowned while crossing the river. That is why statistical methods are no substitute common sense.
Answer :
Studying economics are that by studying economics one can come to know how to get maximum satisfaction of our wants with our limited resources.
Economics helps in studying the current problems of the country. By studying economics one can be a good consumer and a good producer as well.
Answer :
As we know our wants are unlimited and resources are limited. In other words there is a scarcity and choice problem remains in our daily life. In this endless process we shall choose that want to be satisfied which is most urgent for us. We cannot satisfy our all wants at once. So we have to choose that want which is urgently needed for us.
Answer :
The government and policy makers use statistical data to formulate suitable policies of economic development. For example in the present time of rising global oil prices, it might be necessary to decide how much oil india should import in to 2010. The decision to import would depend on the expected domestic production of oil and the likely demand for oil in 2010. With out the use of statistics it cannot be determined what the expected domestic production of oil and the likely demand for oil would be. Thus the decision to import oil can only be obtained statistically. Another example is that government implements poverty alleviation programs after collecting the statistical information about poor in that particular area.
Answer :
We have unlimited wants and limited resources ( income ) to satisfy them. In our life we want to purchase somany things we cannot all of them because our income is limited. When our one want gets satisfied another want rises immediately. For example we want to purchase a scooter. With our limited resources we can purchase scooter. When we become more richer we want to purchase a car. We can purchase this car as our income has increased. This unlimited circle of wants continues in our life.
Answer :
The facts which are studied in economics are known as subject matter of economics. Economics generally studies those facts which come into existence due to unlimited wants and scare means. Subject matter of economics lies in th following economic circle.
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In the words of Seligman “Statistics is the science which deals with the methods of collecting, classifying, presenting, comparing and interpreting numerical data collected to throw some light on any sphere of enquiry”.
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Answer:
I can identify myself as a consumer when I buy a goods for self, for family members or for my friends. Then I will become a consumer.
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Scarcity of luxury goods, scarcity in facilities of higher studies, scarcity in entertainment facilities etc.
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Various techniques and methods used in the various stages of study of statistical data are called statistical methods. In the other words the details of various methods used in the collection of the data to the interpretation of the results from the analyzed data can be summarized in the following manner.
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Statistics is the base upon which the structure of economic planning is built. Economic planning is based on quantitative information and data relating to economic resources, price rise, national income etc.
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The use of statistical method is so widespread that it has become a very important tool in the affairs of the world. It is indispensable to the various fields of investigation, especially in the sciences, such as Botany, Medicine, Sociology, Economics etc. In experimental science one is able to generate his own data under controlled laboratory conditions using high precision instruments. Hence, statistics is defined as science.
Answer :
Economic activities are those activities which are undertaken for monetary benefits. In other words, those activities which are undertaken for earning incomes are called economic activities. Employee working in factory, treatment of patients by doctor, shop run by shopkeeper are examples for economic activities.
Non economic activities are those activities which are undertaken for personal satisfaction or for social services and they are done not for earning money. A house wife cooking food for self consumption is an example for non economic activity.
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Consumption is defined as the purchase of goods by consumers to satisfy their various needs. Transformation of inputs into output is called production. Division of national income into wages, profits, rents, and interests is called distribution.
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By distrust of statistics we mean lack of confidence in statistical statements and statistical methods. The important reasons for distrust of statistics is given below.
