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Grade 11 Exam  >  Grade 11 Questions  >  3, 5, 6, 8, 10, 11, 15. These figure stand fo... Start Learning for Free
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3, 5, 6, 8, 10, 11, 15. These figure stand for 
  • a)
    Continuous series 
  • b)
    Discrete series 
  • c)
    Individual series 
  • d)
    Raw data
Correct answer is option 'C'. Can you explain this answer?
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3, 5, 6, 8, 10, 11, 15. These figure stand fora)Continuous seriesb)Dis...
Individual Series
Individual series refers to data that represents individual items or observations. In this case, the numbers 3, 5, 6, 8, 10, 11, and 15 represent individual values rather than grouped or categorized data.

Distinguishing Characteristics of Individual Series:
- Each number in the series represents a distinct value or observation.
- The data points are not grouped or categorized in any way.
- Individual series is useful for analyzing specific data points without any grouping bias.

Usage of Individual Series:
Individual series data is commonly used in statistical analysis to study specific values, calculate measures of central tendency and dispersion, and identify outliers or unique data points. It provides a detailed view of each observation without the need for grouping or categorization.

Example:
For example, if we were analyzing test scores of students in a class, individual series data would include the actual scores obtained by each student (e.g., 85, 92, 78, 95, etc.). This allows for a detailed examination of each student's performance without grouping them into categories or ranges.
Overall, individual series data provides a granular view of individual values, making it valuable for detailed analysis and specific data interpretation.
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Read the following passage and answer the question that follows:The ordinalist revolution originates in the criticism of the psychological foundations of the theory of demand, namely, the principle of decreasing marginal utility as Alfred Marshall ([1890] 1898) used it. The rejection of hedonist hypotheses led Irving Fisher (1892) and Pareto (1896–97, 1900, 1909) to favour an objective or “positive” approach to economic concepts.The “ordinalist revolution” (Ormazabal 1995, 116) is grounded in a methodological transformation of economics that put the facts of objective experience as a foundation of economics and provided a research program for the ensuing years (Green and Moss 1993; Lewin 1996). Mathematically, ordinalism is entirely based upon the idea that one can dispense with the use of a specific utility function and that no meaning shall be attached to utility measurement, except as an ordinal principle.Clearly, the development of ordinalist must be separated from the introduction of the concept of the indifference curve. Ordinalism was first advocated in Fisher’s “Mathematical Investigations” (1892) and Pareto’s Suunto (1900) and Manual ([1909] 1971), while the indifference curve had appeared in F. Y. Edge worth’s Mathematical Psychics (1881). It was thus only through Fisher’s and Pareto’s recasting that the concept of the indifference curve became irreversibly associated with the promotion of ordinalism.Along the way, the recasting of the theory of choice along ordinalist lines raised a number of issues (about integrability, measurability, and complementarity) that would be progressively settled. A reasonable closing date for the ordinalist revolution is 1950, after Houthakker (1950) and Samuelson’s (1950) contributions.From the late 1920s, the Paretian school was progressively gaining a larger audience while the use of the concept of marginal utility and other derivative concepts was challenged. Consequently, demand theory was recast along the principlesof individual preferences and ordinal utility functions. Nevertheless, English authors proved very silent about the meaning of indifference curves. Most if not all of the reflections after 1920 about the nature of indifference curves took place in America, mainly under the impulse of Henry Schultz at Chicago. This is an American story.Q. Which of the following is not the way of studying Utility?

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3, 5, 6, 8, 10, 11, 15. These figure stand fora)Continuous seriesb)Discrete seriesc)Individual seriesd)Raw dataCorrect answer is option 'C'. Can you explain this answer?
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3, 5, 6, 8, 10, 11, 15. These figure stand fora)Continuous seriesb)Discrete seriesc)Individual seriesd)Raw dataCorrect answer is option 'C'. Can you explain this answer? for Grade 11 2024 is part of Grade 11 preparation. The Question and answers have been prepared according to the Grade 11 exam syllabus. Information about 3, 5, 6, 8, 10, 11, 15. These figure stand fora)Continuous seriesb)Discrete seriesc)Individual seriesd)Raw dataCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Grade 11 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for 3, 5, 6, 8, 10, 11, 15. These figure stand fora)Continuous seriesb)Discrete seriesc)Individual seriesd)Raw dataCorrect answer is option 'C'. Can you explain this answer?.
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