YoUVA

Date:

Define 5tatistics and di_cus5 the

impoAtance of Stati5ticss inn a planned
economy
Ans Accondinq zo plunal foxm Le Stat ís tics
Acconding to Booley'5,
data Accondinq
as Numerical data
5tazietics ane NumeÍcal 5tatement5
of facts in any depautment of enquiy
placed in RelatiQn o each otheA
Acconding to singulas fom ie. 5tatistics.
as Satistieal methods Accoxding tO
cwalli and RobetG 5tatistics may be
Meqarded as body of methods fo
makinq coi6e decisions in face of£
wncetaints

5tatiszics in a planne d Econonmy

Gtatistics plays a vital xoe in
econo mÍcs G0 much s0 hat in |q26
Prof RA, Fishex complained of C the
painful mibappxehension that s|atistic6.
banch of RcOn0mico"
Statístical data and advance d
techniques of 5~atistiical analysis have
pAoved immensly w5eful in the solution
yaxiets of economic pxoblemg 5uch
as pxoduetion, congumption, distxibuzion
of income and wealth, wages plCes
proti|s sayings, expendizuxe inye st men|,
unemplay ment povexty,ete
 M T W T

Page No.:

Date: YOUVA

’ 5tatistica technique9 have also been

u5ed in deesmining the measues of
aa055 National paoduct and Tnput
Output Analysis.
D6e of Satistics in Economic
has led to foMmulation of many economic
laws
Time ieg analysis
Seiey Inde X numbets
foAecasting techniques and Demcnd
Analysis 5ome of yey poseHful
5tatistical tools which ae w5ed mmensly
n analysis of economic data and als o
fox econamic plannin4
Fconometic models based on
50und statistical analy[is
Fo maxinm
ximum exploita~ion o£ the
avallable HeG0wces
 M T W S S
Page No.
YOUVA
Date:

02 Explain the impotance of Statistics

cwith MeGpect to bpsines5 and industy
Ans Stati5}ic5 in BuSine5s and nanaqement

The mandqe and a team of manaqement

executivesis impeHati ve fox efficient
handling ot
of VyaAioUS opeaions lke
Sales,puhchase, production, maiketinq
contnol finance etc of busne6s houSe
t Tt 15 heHe hat statistical data and
the powe fo) 6tazistical tools
puobability, expectation, samplin
techniquestests of siqnificance
eGtimation Zhe0y
theoxs foMecastinq techniques
play an indispenSable Hole

’ The defini|ions of wallis and RobenzS

and po Ya- Lun- Cho) neflect the
applicat/on of 5tatistic5 in BusinesS
Since modenb)4ine55 hab ts HO9S
in aCCDAacy andpiecision of estimates
and statis~ical fonecasting neganding
ftune dernand tor pA0duct , matke
tnends and
6zatistical tools aHe DSed cidely by
bu6ine55 enteHpAiSes for pomotion
 M T W

|Page No.:
YOUVA
Date:

IH Í6 u5ed to mnake manketn4

decisi0n5 1nvestment Personnel
admini6tnation, Cnedit poiy Ihvenkox
control, Accounting and 5ales Contol

- Hence6tatistics is 4efol in almo5

all banches of Busine5s activiZy

Gtatist ics in Tndusy

ln Tndus t y 5atístics j5 wsed
extens ivels w6ed in (
Qualits ContoL

The main objecziVe in any pi0duetion

p0cess is to conzol quali|y ot
manufactunedproduc to iG called
poce55 contkol and íi is achieved
thxough pocsefol technique of contuol
chant6 and inspection plans
he dis coveHy of contol chais was
made by a yoang phyaicist
Du. wA Shehart of Bel! Telephone
Laboatoies ()-SA)n 424 and i5
based on setting 3a(3-6i4ma ) contHal.
lirai|s ohich hasits basi5 on theoXy
O prokability and nohmal dibzibution
Tnspection
Kindof
plans a
aebdsed Special on
sampling techniques ohich axe.
Ay nmpoAtant asped of
5tatisical theoy
 M T W TF s S
Page No.:
YOUVA
Date:

3 Díscus5Functions and limitations

of Shatibtics.

Ans Functions i
To pMeSerd Facts in de finite foxm i w
xepAesent hinq 5 in thein Hue
foam wIth belp of tiqueS, It 1s m0He
conuincing if MLsults expxes5ed
n nUmbe45

l Precision of facts i: 5tatiszics helps in

sim plifyin complex data into simple
to mak e hem undestan dab

9 Foromola|ion and Te6ting gf Hypothesis

I+ he lps in fomulating and testin
hypothesis a neo theoHy

9Fozecastinq t I t is no| only concexne d

asithFunctions but it al so pnedicts
+he futue

6) Policy makinq i we can fuame

favouHable policies coith the help
of 52atistics

OIt nlaxges knoaledge i- chen a pesn

Hiou5 procedones af
goeg thaough yaxious
6tatistics, it coidens his knowledqe
patteHn
 Page NL

Uats.

To Measuhe Dncertainty futune 16

Dncet ain but satistics mak e
coNect eGtimnation ofdata

) Redoces Complexity of data ' Statistics

Simplifies the complex data.

) Deiives yalid /nfenencesi 5tatistical

methods mainly aim az deiVinq
nfeences fom can enquhy
o) Reloationship bedween facts 5atistical
met hods ane wsed to inve 5tiqate
cause and effect elationship between

classificaion of datai I+ classifies

the data bs yatioDb improved
techniques
2) To Dracs Ration alConcluS)on i On ba5i5
of facts colleczed and
d a 5 conclusion analyzed i
(2) To Tndicate Taend Behavioux It helps
to ndicate tend
behavioykof certain
fields of enquiky
 M T W TF S S
Page No.:
YOUVA
Date:

L'imitation6
94does n9t 9udy he Qualitative
Pheno mnon becauSe tatistics
humeic dd a t a t doeS not 5tudy
as pects like health beauy,honestyy
welfaMe, poveMty, etc
statistics does not gtudy 'ndividuals
t does not study object 0 penson
an evert. It only
study the
q10up chaxacteist ics
3) statistical las ae hoz eX a c t t
S only appoXimate O4 eimation
andi6 twe on the aveAage
4) 5tati 5tics Í5 lable to be mis06ed
15 manupulated due to Aishonesty
04fan 5elfish motive6 Statistics
nethe pOVes n04.h dispoVeS anything
 Basis
Ans of
Reso9es dataLof
Dependency
PHimay
data DHeHence
Meaning
Distinguish
betoeen
Seconday

Collecdata
enngy T
memoney
and mQMe Colectedase
indepandently ae1n Paimy t6
calledfiSt
itheme is The
nequiMesIt PuimaMy
foam.
data
data
collectedfoxdata
Data
Prinmay
data
whi
ch
pimay
enenqy0 btained
ane o
Tabulated Seconday
Seconday
classified Gome0ne
datacalled G
Collec and time pimaty
data Meqoites foom dat a
lessTtdata5econday oqani5ed in
is collected by
aleady
beendataThe
havewhich

money Secondduy Date: Page

No..

Data and

foxm data
and YOUVA
 M T W T

Page No.
YOUVA
Date:

Examine the meizs and limitations of

+heobsetV ation ethod
method In collectinq
data
Ans The obsevation meth0d i5 the mo6t commOnls
DSed method Specially ín s|udie 5 Melazting
+o behavioAal scienceS
is not 5cientific obseVation
5clen|ífic tool
and he me>hod 0f data collecion fo
the eGeanche when 1t 5eHVes atonMulated
seanch puxpose,is systemazically
planned and ecoMded and is sbbjected
to checks andconto Js 9n validity and
1ei'ability
y This mehod iG inde pendent
Me6pondents

Menit5

) Thís method i5 s Dbjectiye bia5 ia

eliminated if obsewation Ís done
accutately
2) The infonma|ion ob|ained elat es to
nt
CUent si|uation, i is not complicated
by past o futUAe jntentions
Respondents illingnes5 to xe5pond
cQmpaNed to intevÍeo
Qvestionnaixe method
Suitable in 5tudies cohich deal

cwith subËects who axe not capable of

qivin yexbal eponts
 4) 3)Limitations
2) )
obseVation intenfee
thispeople Thi
Gometimes
Atme|hod The
times
information
nethod
ate is metho
cih vehy
cHeates the
collect nfoxeSeen
datatoAqtely d
15
fact limited
bseyationa pA0vided veAy
accesstble that
ob
5tacle tact0M5 expen
factox5
some by Date:
effectivels Slve
to o task
may zhig.
diect
OUVA
 M T s S
Page No.:
YOUVA
Date:

pets0nal inteviecos UGually

cwhyefeed questionnaiHe 9Unde
to
what condi|ions may a que5+ionaaike
p0ve batis factoxy ao apehGOnd
inteView

Moxe infomot ion in q9eates

Ang thee ís
depthcCan be ob|ained,
flexibili|y as the opp0tunzybeof
neGtuctuHe Que5tio Can

aSked
Respondanis Hespondin peHSOnal
mten Vieaws This is may no posGible
Questionnaç
+1nteveuse can co llect sDpplementany
infoxmation about Aespondant s
petsonal chaxacteistics and
enviON me nt

A questionnaiAe consists of numbex

OF questions pinted in a definite
QHde4 a foMm OH 6et of foHms

Thexe iS aoco52 even of having

wide geogaaphical 6pHead boundaties
15 ee tHO m bias
ýnteViewe4
Respondants haue adequate time
to qive ans weAS
Hence ques tionnaixe pQVe as
5azisfactoy as.6 campaed to
petGonal intevie)
 M W T

Page No.: FS
Date: YOUVA

.7 what do uo0 Under5tand

ane it5
byobjectives9
lassitication
of d ata what

AnG classification i5 t he pocess 01 adngingAne

data into s equences and qoups.
acco4dinqtohetcommon chataczesics
but
O4 6epataziinq them inz0 different
Secust
4elated pants
The objectiyes of clabsification of
data

+ To consolidate Volume of data

6)ch a way hat dIEfeences
similLaities can bee quickly undetstood
To aid companiso
T0 point oD0 impOHtant chanaceistics
0f data a alash
To qive impoatance to pHOminent
d ata colleced
To allo co a tatistical method
of mateeialsgatheHed
 M
TF S S
Page No.
YOUVA
Date:

Bxiefly explain the pxinciples of

Class ification

Ans )Tt Ghoold be Dnambiquous ie the

clasG Should be coel-defined

I t bhould be exhaustive and

mutually exclubiveA qo 0d cla65ification
Shouldbefee faom e5dual clas s
ike

I showld be stable ie to compar e

ZheYeGDls an ideal classification
be Gtable

4)Tt 5hobld be sDitable fox

24 the
puAp0Se iethe cla65ification must
keeping coith objective s of
the enquiy
It sbould be flexible 5h0uld be
adystable t0 the nes and changed
c
6itpations and condiions
 What ane aHouped and unq x0Dped
txequencydis tibutions ý9 what ate
thei USe5

Ans A0Uped Fneguency distibution

t I t i6classification of data into
diffeent casses by diVidin
dividinq the
enzine Manqe into Guitable numbe of
goup s called clas
he lenqth 0f class -int exval is called
width magni|udeof clas s
The too yalwes specifying class ate
class -limit
The lanqe value is Dppe limit and
5malle value is lowe locwe Limi
+ The u5ei5 to
atanqe laqe numbe
of obseyations. Ot data

Dngouped Fequency distxibu tion

It is dis cxete fHequency distxíbotion
whee we coUt. nmbe of obs PAVations.
occu in data This is faciliated
thxough tally matks
’ 1 doeS not co
+ I is
ndensedata
5efol when vaiable
langely epeated Vaiable akes
only few valwes
 M T S S
Page No.:

Date:
YOUVA

what aHe the pxinciples 4oveninq the

choice of
(i) N mbet of cla65 inteyaL
ai) The length of class intexval
(itt) The mid point of class indeval
Ans )It depends. On t0tal Fxequency and
Natuxe of data
Foxmula qiven by pxof Stuxges
5tuMqe '5 Rule" i5.:
Known
= l+ 3-222 |oq N

hexe N= Total Fequency

(i) Length lsize) of clas 5 intenval in vetsely
paopoxtjonal to numbe of clas[es
i= Ranqe
No-0f clas
Langest Smalle st
obseuation obsevation

ui) Mid point 9x the clas5 - maHk ishe

Value Of the Vatiable chich
exactls at the middle of the class

Mid-value lower class ++ DppeA clas s\

of clas5 limit limi
 Ans

ii) i)
included
FotLnclwGiye limit5
i) inDoS
)Cont with
Thosedis~inquish
weenbet
both wheeas class
nextclass
Fo pos5blewheneas p0s51ble
Exclusive Vaniable Vakiable Exclusive
eXample hose
example the
uppe and
vatiables
VaHiablescwhich
class yalwes
Fo values help
class aue Fo and
40-44 espective
andl5-2020-25 excluded
from example DisCHete
and
example of
inteavel included
ncluded
inteval 19
locoes Inclusive
is
chich Suitable
50-59Go-69 known Known

s Maxks
imits in
cannot
as Aqe as can
n Q5-3o
immediat whete clasS ex
Vatiable
ohich students of take ample5, Date:
Discxete
in ContinDoUS
inteH
and uppet test take
all
e Vals YOUVA
all
 30 Total
45-44
4440-
3 35-39
30-34
25-29
20-24
15-19
l4 0-
3 Tally
MatKS Clas5
20 20 5
37 46 33
20
Englísh 36
MaykS
in
wldh
5 Sarme coth
Ses all and 5-9 as
clab56tantin4
faequencythe
the distibotion
coith following the Fox
pAepate data aw M
2
Date:
YOUVA
No. Page
S S
T M
 Ans

24-35
22-215-2 Class 21
33 Ptpake
Phepaxe
imclusiye
Total 36-42 31 32
31
3729 of
32 7
a
28 fxom
15 a
mauks
Tally J5
method
26 frequency
the
24 |4 3
36
27
3 3 29
13 takin
folocoinqdata
20 2
15 di5iibution
5 a3
5
2 15 |5
2027 class
1613 Date: Page
No.:

7 intetval
2 127
12 bs
by
Va YOUVA

5
 M

Page No.
YOUVA
Date:

Daing Stuxqe5" Rule classify in equal

inteuvals the follocwinq data of hou S
wohked bu 50 piece ate w0ke fo
pexiod of a month n a cetain
factoM4
llo15 l6I157 155 108l64128 |4 J78
1G5133 195 151 71 4 2 30

13 56 l64 |46 |44 |o4 |41

Jo3 |49 19 113 93 143
|44 |97 197 87 122 203 |48

Ans No. of class = l+3-222 log

J+ 3222 50

Magni|ude Range 203- 30 = 173 = 25

[Link] class

Clas s lally mauks

30-55
56-&o
Ro-o5
l05-30
130-55 |2
55-20
o-205
Total 50.
 Page No.

Date
YOUVA

Q.15 If the class mid -points in a tHequenc,

distibution of a qxQup of pe5Ons
aHe
125, 132, 139 l4653, l60, l67, 14, 181
poundo
+ind i) size of he cla65 intevals
ii) he clas5 boundaies, and
ii) he cla55limits
ate meas DXed
a6somin that the weiqhts
+otbe neatest pound

Ans ) Sizeldiffxence) =132-125

ii)Mid pain Class Boundany

1 5 - 1225
132 35-5
139 35-5 142:5
46 |425 -149-5
153 144-5- 156-5
56-5_-l635
167 1635- 10:5
110:5 - 7 1 5
5- 124-5

d=1 = 3-5 25 -3-5and

2
1253-5
 (iii)cass
Boundasy

|49:5-1565
l635- l635 |425-
110:5156-5 I35-5-
- l495 )28-51295
l42-51355 125- -
I17-5
705
134.55-

l64-
170151-
l63 T42-
L50156 |4-9 35-
|42
limit
29Class

35
 AnsLClas5

wOxkeHS
10-00 I50-6
l40-150
130-190lG0-170 i40-50
[Link] Cost
the The
dístxibutions
tequency epare living

(
year weekly
20 Less index

than Q000-ol
obseuvaions
000-
than
leGs 150-166o-|70
10-18 O
52 50 35 15 5 n
0l a
and
axe
ceAtain
20
moMe on
Moxe
than qiven
AT31 41
47 than city cost
Date: PageNo.
52 below
cumulative fo of
90
YOUVA
 Ans.

4-12 3-6 O-3 5udents

5tdents
sudents
clas6. qet. 25 12
33 Canvett
5
distxibution
+aequeny
gtdents

13 the
(25-7-5)(12-5)
==7 5

thanqezess qet qetfollocanq

les5 less

than than int0

han

6 3 an
Date: Page
No.:
matkS matkoxdinany M
matKS T

S SS
TF

YOUVA