Chapter Notes - Use of Statistical Tools Commerce Notes | EduRev

Statistics for Economics - Class XI

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Commerce : Chapter Notes - Use of Statistical Tools Commerce Notes | EduRev

The document Chapter Notes - Use of Statistical Tools Commerce Notes | EduRev is a part of the Commerce Course Statistics for Economics - Class XI.
All you need of Commerce at this link: Commerce

Developing Projects in Economics

Gist of the Chapter:

Meaning of Project: A project can be defined as a well thought out plan of action made to achieve specific objective.

Steps for developing a project:

1. Objective: The required data has to be collected with a clear objective of the project.

2. Population: To develop a project, the target population should be determined.

3. Collection of data: Data regarding project report should be collected using primary or secondary data. Secondary data must be used with great care.

4. Organization and presentation of data – Report can be presented using statistical tables, graphs or diagrams.

5. Analysis of data – statistical measures like measures of central tendency and dispersion can be used for analyzing the data.

6. Interpretation & Conclusion – Data collected and analyzed should be correctly interpreted.

7. Consumer Awareness – It means product awareness among the consumers.

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