Class 11 Economics — Chapter 8: Use of Statistical Tools

What you'll learn

• ▸The Structure of a Statistical Project
• ▸Problem Identification and Target Group Selection
• ▸Data Collection Methods in Projects
• ▸Data Organisation and Presentation
• ▸Analysis and Interpretation using Statistical Tools
• ▸Drawing Conclusions and Reporting

Chapter Summary

--- PAGE 1 --- CHAPTER 8 11098CH09 Use of Statistical Tools Studying this chapter should enable you to: • be familiar with steps in designing a project; • apply various statistical tools in analysing a problem. 1. INTRODUCTION You have studied about the various statistical tools. These tools are important for us in daily life and are used in the analysis of data pertaining to economic activities such as production, consumption, distribution, banking and insurance, trade, transport, etc. In this chapter, you will learn the method of developing a project. This will help in understanding how statistical tools and methods can be used for various types of analysis. For example, you may have to collect information about a product from the consumer or about a new product or service to be launched in the market by the producer or analyse the spread of information technology in schools and so on. Developing a project by conducting a survey and preparing a report will help in analysing relev…

Practice Questions from this Chapter

Tap "Get Solution" on any question to ask our AI tutor.

1. Explain survey steps simply. Get Solution →
2. Illustrate data presentation methods. Get Solution →
3. Describe types of statistical analysis. Get Solution →
4. According to the chapter, what is the very first step towards making a project? Get Solution →
5. Which section of a project report is used to mention the details of all secondary sources like magazines and newspapers? Get Solution →
6. What is one example of a primary data collection method mentioned in the text? Get Solution →
7. What is the final step in the process of making a project? Get Solution →
8. Which statistical tool mentioned in the text is used to calculate the average? Get Solution →

Did you know?

• 💡 Ancient Egyptians used early statistics to divide land after floods.
• 💡 The world's first census, counting people, occurred over 6,000 years ago.
• 💡 Florence Nightingale, a famous nurse, invented new data charts.
• 💡 The "average" person is a math idea, not a real human being.
• 💡 Many early games of chance helped develop modern statistics and probability.

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