Tag: definition, scope, importance and limitation of statistics

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

Statistics which deals with the numerical data can be classified as____.

  1. inductive statistics

  2. inferential statistics

  3. applied statistics

  4. descriptive statistics


Correct Option: D

_____ include the techniques such as collection and tabulation of data, averages or measures of central tendency,index number,dispersion, skewness,which help in summarizing and describing the main features of data.

  1. Inductive statistics

  2. Inferential statistics

  3. Applied statistics

  4. Descriptive statistics


Correct Option: D

This division of statistics is concerned with the application of statistical methods and techniques to the specific problems and facts of real life situations as they exist can be classified as____.

  1. inductive statistics

  2. inferential statistics

  3. applied statistics

  4. descriptive statistics


Correct Option: C

According to_____, the larger the size of sample, the more accurate the results are likely to be.

  1. law of inertia of large numbers

  2. law of statistical regularity

  3. law of social sciences

  4. Both a and b


Correct Option: A
Explanation:

The law of large numbers theorem states that identically distributed random variables will approach their normal distribution, theoretical mean and the size of the sample increases.

Which of the following condition is necessary to hold good the law of statistical regularity?

  1. Random sample is taken.

  2. The size of sample is large.

  3. The size of sample is low.

  4. A and B.


Correct Option: D

According to _____ , if a large sample is taken from a population in a random way, it is bound to be fairly representative of the population.

  1. law of inertia of large numbers

  2. law of statistical regularity

  3. law of social sciences

  4. both a and b


Correct Option: B
Explanation:

Statistical regularity is a law in statistics that states that random events will exhibit similar properties when repeated enough times, that it they will follow a regular pattern. All central limit theorems and law of large numbers are laws of statistical regularity.

_____ covers those methods and techniques of statistics which are used to draw conclusions and statistical inferences about the parameters of population on the basis of estimates derived from a sample.

  1. inductive statistics

  2. inferential statistics

  3. applied statistics

  4. descriptive Statistics


Correct Option: B

Business forecasting is done with the help of____.

  1. inferential statistics

  2. inductive statistics

  3. mathematical statistics

  4. analytical statistics


Correct Option: B

______ is that branch of statistics which is concerned with the application of various mathematical theories and techniques such as theory of measures and integration,differentiation,algebra,trigonometry,matrix theory,etc. to develop various statistical theories and techniques.

  1. Inferential statistics

  2. Inductive statistics

  3. Mathematical statistics

  4. Analytical statistics


Correct Option: C

In which of the following fields/ areas the use of statistics and statistical techniques can be better examined? 

  1. Test and verification of economic theories /principles / hypothesis.

  2. Understanding and study of economic problems.

  3. Economic planning.

  4. All of the above


Correct Option: D