What is financial infrastructure?

The network of banks, payment systems and stock markets that helps manage money

What are the main things a bank does?

Holds deposits and lends money as loans

How do banks make money?

They pay lower interest on deposits and charge higher interest on loans

Earning interest on previous interest as well as on the original amount

What is a statistical statement?

A claim summarising a phenomenon using numerical values, proportions, probabilities or predictions.

Why is "How tall are Grade 7 students?" a statistical question?

Because heights vary, so data must be collected and analysed to answer it.

What does variability mean in data?

The natural differences among the values, such as students having different heights.

Why do we represent data with tables and charts?

To organise it and reveal patterns and trends that are hard to see otherwise.

Give an example of a statistical statement.

"The village population reduced by about 100 in the last decade."

What is a prediction in statistics?

An estimate about unknown or future values based on the data we already have.

Is "I take about 15 minutes to cycle home" a statistical statement?

Yes — it summarises repeated experience as a numerical claim.

Why should we read data claims critically?

Because data can be incomplete or presented in misleading ways.

What is the first step in answering a statistical question?

Collecting relevant data about the phenomenon.

Connecting the Dots…

Class 7 Mathematics · Ganita Prakash Part 2 · Chapter 5

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Summary

This chapter introduces statistical thinking — making sense of the world through data. A statistical statement is a claim summarising a phenomenon in numbers, proportions, probabilities or predictions ("David spends about 7 hours daily in school"), while a statistical question is one that needs data to answer ("How tall are Grade 7 students in our school?"), because we expect the answers to vary. You learn to collect data, organise it, and represent it visually so patterns become clear. The chapter develops ways to summarise and compare data sets and to read graphs and tables critically, distinguishing what the data actually shows from what it does not. A key idea is variability — not everyone is the same height or takes the same time — and how a single summary value or a chart can communicate the overall picture. By connecting scattered data points into a meaningful story, you begin to reason about typical values, trends and predictions, while staying alert to misleading or incomplete claims.

Statistical statements and questionsCollecting and organising dataVariability in dataRepresenting data visuallyReading data critically and making predictions

Key terms

Data

A collection of facts, numbers or observations gathered about something.

Statistical statement

A claim summarising a phenomenon using numbers, proportions, probabilities or predictions.

Statistical question

A question that can only be answered by collecting and analysing data.

Variability

The natural differences in data values, such as different student heights.

Data representation

Showing data using tables, charts or graphs to reveal patterns.

Prediction

An estimate about future or unknown values based on existing data.

Extra questions & answers

Try one from this chapter

A statistical statement is a claim that summarises a phenomenon using:

Flashcards & interactive practice