Economics Resolved Assignment about Elements of Statistics

IGNOU B. COM EC0-07 Resolved Assignment 2013

Elements of Statistics Tutor Designated Assignment (TMA) Course Code: ECO-07 Assignment Code: ECO-07/TMA/2012-13 Total Represents: 100 Make an effort all the questions

1 . " Almost all statistics happen to be numerical transactions of specifics but all numerical assertions of truth is not statistics” comment. (20). Solution: In accordance to this explanation the numerical facts (data) should offer the following characteristics to be treated as stats. (i) Aggregate of facts: One, isolated or unrelated numbers are not figures, because they are certainly not comparable. These kinds of figures inform nothing about any problem. As an example the age of students or the price of a product is certainly not statistics. Since they are just abstract numbers. When we consider age of a grouping of students, or perhaps the prices of a basket of commodities it is statistics because they comparable. Stats must be indicated as combination of information relating to any particular query, question, inquiry, interrogation. Thus ‘not a datum' but the data represent stats.

(ii)В Affected by simply multiplicity of causes: Statistical facts ought to be affected by a number of factors to become statistics. These kinds of may include equally normal as well as exceptional factors. For example , the yield of rice is determined by a number of factors like the rain fall, fertility of the soil, technique of cultivation, quality of seed products used and so forth Some of these elements are regular and some happen to be exceptional. Consequently the data concerning the yield of grain over a period of time become figures. On the other hand if we write numericals l, two, 3, 5, 5, 6, 7, 8, 9, and 10, they are not statistics. Because they are certainly not affected by any factors.

(iii) Numerically expressed: Statistics are quantitative phenomena. Typically, statistical techniques deal with quantitative factors compared to qualitative aspect. So figures should be usually numerically stated. For example , ‘there are 30 districts in Orissa', is known as a numerical assertion. But the lifestyle of the persons of Orissa have better over the years' is not just a numerical affirmation. Here the first statement is record where as the second is not. And so the subjective assertions relating to qualitative information like honesty, gems etc . are not statistics. Only statements which is often expressed numerically are stats.

(iv)В Enumerated accurately: In an query, question, inquiry, interrogation statistics (data) should be gathered with a fair standard of accuracy. This affects the findings of the enquiry. The level of accuracy of statistics depends upon what nature and purpose of the enquiry. Generally data are collected in two ways - by enumerating all the products of the populace (complete enumeration method) or perhaps enumerating several units (sampling Method) and the result is generalized for the whole group. Without a doubt the 1st method requires more time and cost but provides more accurate information than the second. With respect to the nature of enquiry plus the degree of accuracy desired merely one of the previously mentioned...

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