Introduction to Statistics JVM Education

Chapter – 1 Introduction to Statistics Introduction to Statistics   Economics is the study of how people and society choose to employ scarce resources that could have alternative uses in order to produce various commodities that satisfy their wants and to distribute them for consumption among various persons and groups in society. Economic Agents Economic Activities Consumptionis the process of using up utility value of goods and services for the direct satisfaction of our wants. Productionis the process converting raw material into useful things. Distributionrefers to the way in which total output, income, or wealth is distributed among individuals or among the factors of production. Statistics in Singular Sense Statistics means the science of collecting, classifying and using statistics or a statistical fact. Statistics in Plural Sense Statistics means numerical facts systematically collected. Chapter – 1 Introduction to Statistics Features of Statistics Aggregatesof Facts Expressednumerically Affectedby multiplicity of causes Reasonabledegree of accuracy Placedin relation to one another Predetermined purpose Collectedin sytemmatic manner Introduction to Statistics Importance of Statistics Quantitativeexpression of economic problems Intersectoral and inter temporal comparisons Workingout cause and effect relationship Constructionof economic theories/ economic models Economicforecasting Formulationof policies Economicequilibrium   (adsbygoogle = window.adsbygoogle || []).push({}); Limitations of Statistics Studyof numerical facts only Studyof aggregates only Resultsare true only on an average Resultsmay prove to be wrong without reference Canbe used only by experts Proneto misuse Introduction to Statistics

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Shortcuts for your CBSE Exam Preparations

Exam Preparations Exam Preparations have become a headache for our students. We are living in the age of shortcuts. Shortage of time and our fast life compels us to search for easy ways to achieve our targets. However, it seems that the results of shortcuts are not always fruitful or the outcomes are far way from what we desired for. So what do you think, searching shortcuts for your Exam Preparations will be fruitful? Yes, it is true that there is no shortcut which leads you to high ranks, but off course…

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