Characteristics of statistics in the plural sense (as numerical data)

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Learning Outcomes:-

Through this module, you will gain understanding on:-

1.    Features of Statistical Data

 

Characteristics of statistics in the plural sense (as numerical data)-

1.    Aggregate number of facts that can be compared and conclusions can be drawn

Single number (NOT ╳ Statistics)

Value of total exports from India is rupees 11,66,439 (✓)

 

2.    are expressed in terms of numbers

Related to quantitative variables: income, expenditure, investment

Qualitative attributes (good, excellent, ranks, IQ, beauty) (NOT ╳ Statistics)

 

3.    Statistics are affected by multiple factors

 

4.    Keep reasonable degree of accuracy while collecting statistical data

Accuracy depends on

Purpose of Investigation

Nature of Investigation

Size of Investigation

Available resources

 

5.    Are mutually related and have the quality of comparison

 

6.    Information collected with some pre-determined objective

 

7.    Maybe collected by enumeration or estimation

Enumeration (enquiry field limited): a complete, ordered listing of all the items in a collection

Estimation (investigation field vast): numerical value of unknown population is inferred from incomplete data

 

8.    A plan must be prepared and then statistics should be collected systematically

 

★ In short, it is safe to conclude that all numerical data cannot be called statistics but all statistics are numerical data.

VIDEO DESCRIPTION (max 5,000 characters)

Characteristics of statistics in the plural sense (as numerical data) | Statistics for Economics | 11th Commerce | by @statomics11comm

 

▶Related Playlist: https://www.youtube.com/playlist?list=PL0BlcnHQsq5K6s4HPm5VVP77zYnaT4ZpP

 

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TAGS (csv)

Characteristics of statistics, plural sense, numerical data, Statistics for Economics, Statistics, Economics, 11th Commerce CBSE, 11th Commerce, CBSE, statomics11comm, class 11, hindi, in hindi

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