Tag: economics

Organised data is needed to draw meaningful inferences.

The word statistik used by German Gottfried Achenwall in the years $1749$.

The German stastistik, first introduced by Gottfried ache wall $(1749)$, originally designated the data analysis of state.

The word statistics and statistical are derived from the Latin word status, means political state.

Sir William Petty, a $17^{th}$-century economist used early statistical methods to analyse demographic data.

The Roman Empire was the first government to gather extensive data about population, area and wealth of territories that they controlled.

Karl Pearson is the founder of mathematical statistics.

Tomato is a not a data collection method, since tomato is a vegetable.
So, census, population and business strategy are types of methods of collection of data.

How many books does our class check out of the library each week? is a collection of data method. Because in the library they will use the statistics method of enter the books in order to check out.
But in option $A, C$ and $D$ are habitual question we will ask to your friends.

There are four important bases of classification:

(1) Qualitative Base (2) Quantitative Base (3) Geographical Base (4) Chronological or Temporal Base

(1) Qualitative Base:

When the data are classified according to some quality or attributes such as sex, religion, literacy, intelligence etc…

(2) Quantitative Base:

When the data are classified by quantitative characteristics like heights, weights, ages, income etc…

(3) Geographical Base:

When the data are classified by geographical regions or location, like states, provinces, cities, countries etc…

(4) Chronological or Temporal Base:

When the data are classified or arranged by their time of occurrence, such as years, months, weeks, days etc…

If the population figures are given for each State of India, then the data can be classified as quantitative data.