Commerce Exam > Commerce Notes > Economics Class 11 > Worksheet: Use of Statistical Tools
Worksheet: Use of Statistical Tools | Economics Class 11 - Commerce PDF Download
| Table of contents |
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| Multiple Choice Questions |
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| True or False |
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| Very Short Answers |
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| Short Answers |
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Multiple Choice Questions
Q1: Which statistical tool is used to measure the average of a set of data?
(a) Histogram
(b) Mean
(c) Range
(d) Median
Q2: In statistics, the measure of central tendency that is least affected by outliers is:
(a) Mode
(b) Median
(c) Standard Deviation
(d) Variance
Q3: What does the interquartile range represent?
(a) The spread of data
(b) The middle 50% of data
(c) The maximum value in the dataset
(d) The minimum value in the dataset
Q4: Which of the following is a measure of dispersion?
(a) Mean
(b) Mode
(c) Standard Deviation
(d) Median
Q5: If the coefficient of variation is 10%, what does it imply?
(a) Data is highly variable
(b) Data is not variable
(c) Data is moderately variable
(d) Data is normally distributed
True or False
Q1: The mean and median will always be the same in any dataset.
Q2: A high standard deviation indicates that the data points are closely clustered around the mean.
Q3: The range of a dataset is the difference between the highest and lowest values.
Q4: The coefficient of variation is expressed as a percentage.
Q5: Skewness measures the symmetry of a dataset.
Very Short Answers
Q1: Define 'Statistics.'
Q2: Explain the term 'Central Tendency.'
Q3: What is the primary purpose of a histogram?
Q4: Define 'Variance.'
Q5: What is the significance of the coefficient of variation (CV)?
Short Answers
Q1: Explain the concept of 'Measures of Dispersion' and provide examples.
Q2: Describe the 'Coefficient of Variation' (CV) and its importance.
Q3: Explain the concept of 'Skewness' in statistics.
Q4: Differentiate between 'Mean' and 'Median' as measures of central tendency.
Q5: Explain the construction and interpretation of a 'Box-and-Whisker Plot.'
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FAQs on Worksheet: Use of Statistical Tools - Economics Class 11 - Commerce
| 1. What are statistical tools? |  |
Statistical tools are techniques and methods used to collect, analyze, interpret, and present data in a meaningful way. They help in making informed decisions, identifying patterns, and drawing conclusions from data.
| 2. What are some commonly used statistical tools? | |
Some commonly used statistical tools are:
- Descriptive statistics: These tools summarize and describe the main features of a dataset, such as mean, median, mode, and standard deviation.
- Inferential statistics: These tools help in making predictions or drawing conclusions about a population based on a sample.
- Regression analysis: This tool is used to establish relationships between variables and predict future outcomes.
- Hypothesis testing: This tool is used to test the validity of a claim or hypothesis using statistical evidence.
- Data visualization: These tools help in presenting data in graphical or visual formats for easy understanding and interpretation.
| 3. How can statistical tools be applied in real-life situations? | |
Statistical tools have numerous applications in various fields. Some examples include:
- Market research: Statistical tools help in analyzing consumer behavior, market trends, and making informed business decisions.
- Medicine: Statistical tools are used in clinical trials, epidemiological studies, and drug research to evaluate the effectiveness and safety of treatments.
- Quality control: Statistical tools help in monitoring and improving product quality by analyzing data from production processes.
- Finance: Statistical tools are used to analyze stock market trends, risk management, and investment decision-making.
- Education: Statistical tools assist in analyzing student performance, evaluating teaching methods, and identifying areas for improvement.
| 4. Can statistical tools be used to manipulate data? | |
Statistical tools themselves do not manipulate data. However, they can be used to analyze and interpret data, which can be intentionally or unintentionally manipulated. It is essential to use statistical tools ethically and accurately to ensure the validity and reliability of the results.
| 5. Do I need to be a statistician to use statistical tools? | |
No, you do not need to be a statistician to use statistical tools. Many statistical tools are designed to be user-friendly and accessible to individuals with little to no statistical background. However, it is important to have a basic understanding of statistical concepts and principles to use these tools effectively and interpret the results correctly.
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Nov 03, 2024 Last updated |
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