Test: Introduction To Statistics - 2 - Commerce MCQ

- Statistics involves the collection, analysis, interpretation, and presentation of data.
- Option A compares birth rates, using statistical data to convey information.
- Option C presents India's cricket match outcomes over ten years, reflecting data analysis.
- Option D describes an average, a fundamental statistical measure.
- Option B simply states that Ramesh has a Rs. 100 note, with no data analysis or comparison involved, making it not an example of statistics.

- Aggregate of facts: Statistics involves collecting and summarizing data, which are facts gathered from various sources.
- Numerically expressed: Data in statistics is quantified to facilitate analysis and interpretation.
- Affected by multiplicity of causes: Statistical data is influenced by various factors, both internal and external, impacting outcomes.
- All of these: D is correct as statistics encompasses all these elements, integrating numerical data derived from multiple causes and sources to provide comprehensive insights.

- Statistical studies involve several key stages:
- Collection of Data: Gathering information from various sources to form the basis of the study.
- Presentation of Data: Organizing data in a coherent format, such as charts or tables, for easier understanding.
- Analysis of Data: Examining the organized data to identify patterns, relationships, or insights.
- Each stage is essential for a comprehensive statistical study.
- Therefore, the correct answer is D: All of these, as it includes all stages.

- Production: The process of converting raw materials into finished goods is known as production. It involves various steps, including sourcing raw materials, processing them, and assembling them into a final product ready for use or sale.
- Other Options:
- Saving refers to setting aside money for future use.
- Investment involves allocating resources to generate future income.
- Exchange is trading goods or services.
- In the context of manufacturing and industry, production is the correct term for transforming raw materials into goods.

Statistics is fundamentally concerned with:

• Aggregate of organised facts: Statistics involves the collection, analysis, interpretation, presentation, and organization of data. To derive meaningful insights, data must be systematically collected and organized.
• Organized facts allow for patterns and trends to be identified, enabling informed decision-making.
• Disorganized, useless, or unrelated facts do not provide reliable information for statistical analysis.

Thus, the correct answer is option A: Aggregate of organised facts.

- The proper use of statistics is primarily made by experts.
- Experts have specialized training and knowledge to correctly apply statistical methods.
- They understand the nuances of data collection, analysis, and interpretation.
- Proper statistical use requires skills to avoid biases and errors.
- While everyone can use statistics, experts ensure accuracy and reliability.
- Their expertise helps in making informed decisions based on data insights.

Statistics is the science of analyzing:

• Quantitative data: Statistics primarily deals with quantitative data, which involves numerical values that can be measured and analyzed using statistical methods.
• Qualitative data: While statistics can also handle qualitative data, it typically involves converting it into quantitative forms, such as counts or percentages, to analyze effectively.

Therefore, the most appropriate answer is B: Both (a) and (b), as statistics covers both qualitative and quantitative data.

- The term "statistics" as a plural noun refers to statistical data.
- This usage implies the actual numerical data collected from observations or experiments.
- Examples include figures like population counts, sales numbers, or survey results.
- Unlike other options, statistical data represents the raw information that is analyzed using statistical methods.
- Statistical methods (A), descriptive statistics (B), and inductive statistics (D) refer to techniques and interpretations used on this data.

To understand distrust in statistics, consider:

• A, B, D: These statements reflect skepticism and distrust towards how statistics can be manipulated or misrepresented, often seen in phrases like "lies, damned lies, and statistics."
• C: This is the correct statement, as it describes the objective nature of statistics—expressing facts in numerical form. It does not imply deception or manipulation.

Therefore, statement C is not associated with distrust of statistics.

- Plural Sense: In statistics, "plural sense" refers to the collection of numerical data. It involves specific figures, measurements, or counts of various phenomena.
- Example: Data on population numbers, sales figures, or exam scores are considered statistics in the plural sense.
- Usage: This data is analyzed to make inferences, draw conclusions, or guide decision-making.
- Conclusion: The term "statistics" in the plural sense emphasizes the raw data itself, which is crucial for analysis and interpretation.

- In the singular sense, "Statistics" refers to:
- Statistical Science: This is the field that involves collecting, analyzing, interpreting, presenting, and organizing data.
- Statistical Law: This refers to established principles or findings derived from statistical data.

- Both terms indicate different aspects of the study and application of statistics.
- Thus, the correct answer is C: both (a) and (b), because the singular term encompasses both the scientific study and the laws derived from statistical methods.

- Statistics, in its plural sense, refers to numerical data that represents a collection of facts.
- Characteristics of statistics include:
- Aggregate of data: Statistics involve collecting data points.
- Affected by multiplicity of causes: Data can be influenced by various factors.
- Collected in a systematic manner: Data is gathered methodically for accuracy.
- Only expressed in words is incorrect because statistics are primarily numerical, not just qualitative descriptions.

- The correct answer is A: Statistics.

- Statistics refers to the aggregate of numerical data. It involves collecting, organizing, summarizing, and analyzing data to make informed decisions.

- The term encompasses both the raw data and the methods used to analyze it.

- Unlike options B, C, and D, which refer to specific stages in data handling, "Statistics" is the broader field that includes all these processes as part of understanding and using data effectively.

- Production: This is the process of creating goods or services to satisfy human wants. It involves transforming inputs into outputs, contributing to economic growth.

- Consumption: This refers to the use of goods and services by consumers. It drives demand and influences production decisions in the economy.

- Distribution: This involves the allocation and delivery of goods and services from producers to consumers, ensuring that products reach their intended users.

- Conclusion: All these activities—production, consumption, and distribution—are interconnected and essential components of economic activity. Therefore, the correct answer is D: All of these.

- Statement B is incorrect: Not all numbers are statistics. Statistics refers specifically to the collection, analysis, interpretation, and presentation of data. For a number to be considered a statistic, it must be part of a structured dataset or analysis process that provides meaningful information or insights. Numbers individually, without context or analysis, do not constitute statistics.
- Other statements are correct: Resources can be used in various ways, macroeconomics focuses on large economic aggregates, and statistics often deals with aggregates of quantitative data.