An Introduction To Statistics
ICSE · Class 11 · Economics
Summary of An Introduction To Statistics for ICSE Class 11 Economics. Key concepts, important points, and chapter overview.
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Overview
Statistics is the study of numerical facts and the methods used to collect, organise, present, analyse, and interpret them. In economics, it helps describe real situations with accuracy and supports comparison, planning, and policy decisions. The word has roots connected with the political state, an
Key Concepts
Statistics began with the collection
Statistics began with the collection of numerical information for state affairs. The word is derived from Latin, Italian, or German terms meaning a po
In plural sense
In plural sense, statistics means data. These are numerical facts about income, production, population, prices, and similar matters. Individual figure
In singular sense
In singular sense, statistics means statistical methods. These methods include collection, organisation, presentation, analysis, and interpretation of
Statistics has seven main characteristics
Statistics has seven main characteristics: it consists of aggregates of facts, is numerically expressed, is affected by multiplicity of causes, is enu
Bowley defined statistics as numerical statements
Bowley defined statistics as numerical statements of facts placed in relation to each other. Yule and Kendall defined it as quantitative data affected
Learning Objectives
- Understand the origin and growth of statistics.
- Distinguish between statistics in plural sense and singular sense.
- Identify the main characteristics of statistics as data.
- Explain the stages of statistical investigation.
- Understand the role of statistics in economics and other fields.
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