Tag: definition, scope, importance and limitation of statistics

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Questions Related to definition, scope, importance and limitation of statistics

Multiple choice business economics and quantitative methods ict, investigations and problem solving-1 estimating angles terms used in statistics definition, scope, importance and limitation of statistics

As per the law of statistics given by king _________________.

  1. if a data is chosen randomly from a large group than that data will invariably show the characteristic of the group.

  2. the law developed by King is more accurate if applied for large group.

  3. data sample which is to be taken for a large group should be systematic so that invariably it shows the characteristic of a large group.

  4. Both A & B
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

King's law of statistics emphasizes that a sample chosen from a large group will reflect the characteristics of the group, and this law becomes more reliable as the size of the group increases.

Multiple choice business economics and quantitative methods ict, investigations and problem solving-1 estimating angles terms used in statistics definition, scope, importance and limitation of statistics

"Statistics refers to the classified facts representing the conditions of the people in the State, especially those facts which can be stated in numbers or in tables of numbers or in any tabular classified arrangement".

This definition of statistics was given by _____________.

  1. Bowley

  2. Wappans

  3. Prof. Horace Secrist

  4. Webster
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

According to Webster,  "Statistics refers to the classified facts representing the conditions of the people in the State, especially those facts which can be stated in numbers or in tables of numbers or in any tabular classified arrangement"

Multiple choice business economics and quantitative methods ict, investigations and problem solving-1 estimating angles terms used in statistics definition, scope, importance and limitation of statistics

In ancient days, the word statistics was used only for facts and figures required by the state for its official use and was known as ___________.

  1. the science of king

  2. the science of state craft

  3. political arithmetic

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statistic has been called "science of king" as in ancient times it was mainly used by kings to collect information about their kingdom and the people in it (similar to the government today). This is why its also called "political arithmetic" or "the science of state craft" as politicians may use it as a powerful tool to gain popularity among the public (by boasting about high economic growth or low unemployment and inflation rates) and thus get votes to remain in power. 

Multiple choice economics ict, investigations and problem solving-1 estimating angles terms used in statistics definition, scope, importance and limitation of statistics

Secondary data in statistics is the data collected from :

  1. Primary sources

  2. Secondary sources

  3. Both

  4. None of these
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Data is classified as both primary and the secondary data.


Primary data is the data which is collected for the first time.
Secondary data is the data which are collected by someone else (secondary sources) and passed through the statistical process.

Multiple choice business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

Range of probability distribution with 68.26% lies within __________________.

  1. $(+ 3 \sigma$ and $-3\sigma )$
  2. $(+ 4 \sigma$ and $-4\sigma )$
  3. $(+ 1 \sigma$ and $-1\sigma )$
  4. $(+ 2 \sigma$ and $-2\sigma )$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In a normal distribution, approximately 68.26% of the data falls within one standard deviation (sigma) of the mean, which is represented as the range between -1 sigma and +1 sigma.

Multiple choice business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

Statistics helps to formulate various principles and enables us to compare the theories in real life situations.

  1. True

  2. False

  3. Partly true

  4. None of above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statistics collates data in a manner that makes it easy to draw meaningful conclusions from, which provided the empirical evidence that allows us to prove or disprove theories. 

Multiple choice business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

The word 'Statistics' as used in earlier days by Italian____.

  1. Statistik

  2. Statista

  3. Status

  4. Statustic
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The word 'Statistics' is derived from the Italian word 'Statista', which means a statesman or politician.

Multiple choice business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

Which of the following statements is false?

  1. Statistics is derived from the Latin word 'Status'

  2. Statistics is derived from the Italian word 'Statista'

  3. Statistics is derived from the French word 'Statistik'

  4. None of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The word Statistics stems from the word Statistik, from the German language as introduced by Gottfried Achenwall.

Multiple choice business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

Statistic is an exact science or pure science like physics, chemistry etc.

  1. True

  2. False

  3. Partly true

  4. None of above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

No, Statistics isn't a pure science like physics or chemistry as it is not absolute and universal in nature. The observations made in statistics are more susceptible to a change in the situation, which will give a wildly different conclusion.