What went wrong when the king rode under the arch?

It was too low and knocked off his crown

How does the chain of blame unfold in the poem?

Each accused person blames another, ending with the king's own changes

What are the steps in making a statistical project?

Identifying a problem or area of study, choosing a target group, collecting data, organising and presenting it, analysing and interpreting it, drawing a conclusion, and preparing a bibliography.

Why must the target group suit the study?

Because the data must come from the people relevant to the problem; a car project surveys middle and higher-income groups, while a drinking-water project must cover both urban and rural populations.

What are the ways of collecting primary data in a project?

Through a questionnaire or interview schedule administered by personal interview, by post (with a covering letter stating the purpose), by telephone or by email.

When is secondary data used in a project?

Secondary data are used when there is a shortage of time, money and manpower to collect fresh data, and are drawn from magazines, newspapers and research reports.

How is the collected data organised and presented?

It is organised through tabulation and presented with diagrams such as bar diagrams, pie diagrams and histograms to make it comprehensible.

What should the conclusion of a project contain?

It should draw meaningful inferences from the analysis, and where possible predict future prospects and suggest implications for growth or government policy.

Describe the sample toothpaste project in the chapter.

An entrepreneur planning a toothpaste factory uses a fifteen-item questionnaire to survey 100 households on income, family size, brand and ingredient preferences and information sources, then analyses the results statistically.

How are the mean and standard deviation computed in the sample project?

They are computed by the step-deviation method, using deviations of class mid-points from an assumed mean divided by a common class width, for both monthly income and expenditure on toothpaste.

Why is a bibliography included in a project?

To acknowledge and list the secondary sources, such as books, magazines, newspapers and research reports, from which information was drawn.

Use of Statistical Tools

Q: Which statistical tools are used in the analysis stage?

Measures of central tendency such as the mean, measures of dispersion such as the standard deviation, and correlation, to find averages, variability and relationships among variables.

Class 11 Economics · Statistics for Economics · Chapter 8

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CBSE Class 11 · Economics

Mean to Index Numbers: Unit 3, 25 marks

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Summary

This chapter shows how the statistical tools learnt earlier are applied to a real economic problem by developing a project. A project moves through clear steps: identifying a problem or area of study, choosing a suitable target group, collecting data, organising and presenting the data, analysing and interpreting it, drawing a conclusion, and listing a bibliography. The target group must match the study — a car project targets middle and higher-income groups, while a soap or drinking-water project covers all consumers. Data may be primary, collected through a questionnaire or interview schedule by personal interview, post, phone or email (a postal survey needs a covering letter stating its purpose), or secondary, used when time, money and manpower are short. The collected data are organised through tabulation and shown with bar diagrams, pie diagrams and histograms. Analysis applies measures of central tendency such as the mean, measures of dispersion such as the standard deviation, and correlation to find averages, variability and relationships among variables. The chapter works through a sample project on a toothpaste factory: a fifteen-item questionnaire surveys 100 households, and the mean and standard deviation of monthly family income and toothpaste expenditure are computed by the step-deviation method. The conclusion draws meaningful inferences — about who uses the product, their income and family size, preferred brands and the most effective advertising medium — and may predict future prospects, while the bibliography lists the secondary sources used.

Use of Statistical Tools

Key terms

Project

An organised study that applies statistical tools to analyse a real economic problem from start to conclusion.

Target group

The specific population suited to a study, such as middle-income households for a car survey.

Questionnaire

A set of questions, self-administered or enumerator-administered, used to collect primary data in a survey.

Tabulation

The arrangement of collected data into rows and columns to organise it for analysis.

Step-deviation method

A short-cut method of computing the mean and standard deviation using deviations divided by a common class width.

Bibliography

The list of secondary sources such as books, magazines and reports used in a project.

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The first step in making a statistical project is:

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Use of Statistical Tools

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