Tag: meaning and definition of statistics

Questions Related to meaning and definition of statistics

Characteristic(s) of statistics is(are) _______________.

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

  1. statistical data are estimated

  2. statistical data are collected with a perfect degree of accuracy

  3. statistical data deals with actual facts only

  4. All of above

Show answer
Correct Option: A

Which of the following constitute statistics?

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

  1. Qualitative expression

  2. Numerical data

  3. Quantitative data

  4. (B) and (C)

Show answer
Correct Option: D

Which of the following can be treated as important function of statistics?

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

  1. Statistics presents the facts in a precise and definite from.

  2. Statistics presents the large volume of complex data in a meaningful and understandable form.

  3. Statistics makes comparison of data possible.

  4. All of above

Show answer
Correct Option: D

The subject matter of statistics is ______________.

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

  1. researcher

  2. datum

  3. data

  4. none of the above

Show answer
Correct Option: C
Explanation:

The main goal of statistics is to collect, collate and analyse data and present its findings is an accurate and precise manner such that it enables meaningful conclusions to be drawn from the data. 

Statistics is ________________.

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

  1. an exact science

  2. a pure science

  3. a scientific method

  4. none of the above

Show answer
Correct Option: C
Explanation:

Statistics is a scientific method used to draw conclusions out of raw data. Statistics uses qualitative data to draw conclusions and find evidences to prove the formulated hypothesis. 

What does statistics do?

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

  1. It enables an economist to present economic facts in a precise and definite form

  2. Helps in condensing the mass of data into a few numerical measures

  3. Statistics is used in finding relationships between different economic factors

  4. All of these

Show answer
Correct Option: D
Explanation:

Statistics helps in grasping the meaning of certain laws of behavior in social sciences and lends precision to scientific inquiry. It helps finding out how various factors of production interact and contribute to economic activity. Analysts are able to collect and collate data in a precise manner to provide empirical evidence to a theory. Thus, it helps in condensing the mass of data into a few numerical measures and it enables an economist to present economic facts in a precise and definite form.

Simplifies presentation of an empirical finding is called an __________.

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

  1. fact

  2. economic fact

  3. collection of information

  4. A and C

Show answer
Correct Option: B

Statistics involves which of the following?

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

  1. Collection and organisation of data

  2. Presentation of data

  3. Summarisation of data

  4. All of these

Show answer
Correct Option: D
Explanation:

Statistics is the study of the collection and analysis of data, which is then collated and presented to provide empirical evidence to a hypothesis. It can be used to prove or disprove theories.

Who has been elected as the President of Indian Statistical Institute recently?

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

  1. R.C. Lahoti

  2. Mahesh Sharme

  3. M.S Sahoo

  4. Vijay Kelkar

Show answer
Correct Option: D

Which of the following can be treated as important function of statistics?

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

  1. Statistics presents the facts in a precise and definite form.

  2. Statistics presents the large volume of complex data in meaningful and under standable form.

  3. Statistics makes comparison of data possible.

  4. All of above

Show answer
Correct Option: D
Explanation:

Statistics comprises data to present it in an understandable manner and relate it to a theory, it presents facts in a precise form and it makes the comparison of data possible.