Characteristics of statistics


Q1. a. Explain the characteristics of Statistics.

b. What are the components of Statistics? Give a brief description of each of the components.

Q2. Explain the objectives of Statistical Average. What are the requisites of a good average?

Q3. a. Mention the Characteristics of Chi-square test.

b. Two research workers classified some people in income groups on the basis of sampling studies. Their results are as follow:

1480_basis of Sampling studies.png

Show that the sampling technique of atleast one research worker is defective.

Q4. What do you mean by cost of living index? Discuss the methods of construction of cost of living index with an example for each.

Q5. Define trend. Enumerate the methods of determining trend in time series 10 marks

Q6. The following data represent the number of units of production per day turned out by 5 different workmen using different types of machines.

2469_Workmen And achine Type.png

i) Test whether the mean productivity is the same for the four different machine types.

ii) Test whether 5 men differ with respect to mean productivity.

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Finance Basics: Characteristics of statistics
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