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# Statistics for Economics

The word Statistics is derived from the Greek word ‘Statistique,’ the Latin word ‘Status,’ the Italian word ‘Statista,’ and the German word ‘Statistic.’ Statistics is defined as the study, collection, analysis, interpretation, and organization of data for different ultimate objectives. Statistics help a user in gathering and analyzing huge numerical data easily and efficiently. Statistics can be easily defined in two senses: Plural Sense and Singular Sense.

Statistics for Economics plays a major role in economics. Statistics helps in the study of market structure and understanding the different economic problems. After a better understanding of the economic problems, statistics also help in solving those issues by formulating appropriate economic policies. Every economics branch takes the help of statistics to prove different economic theories. One can also establish a mathematical relationship with the help of statistics. Economists can present the facts of economics precisely.

## CBSE Class 11 Statistics for Economics

### Chapter 1: Concept of Economics and Significance of Statistics in Economics

1. Introduction to Statistics for Economics

### Chapter 5: Diagrammatic Presentation of Data

1. Diagrammatic Presentation of Data: Meaning , Features, Guidelines, Advantages and Disadvantages
2. Types of Diagrams
3. Bar Diagrams: Meaning, Features and its Types
4. Pie Diagrams: Meaning, Example, and Steps to Construct a Pie Diagram
5. Histogram – Meaning, Example and Types
6. Frequency Polygon: Meaning, Steps to Draw and Examples
7. Ogive (Cumulative Frequency Curve) and its Types
8. What is Arithmetic Line-Graph or Time-Series Graph?
9. Diagrammatic and Graphic Presentation of Data

### Chapter 6: Measures of Central Tendency: Arithmetic Mean

1. Measures of Central Tendency
2. Arithmetic Mean: Meaning, Example, Types, Merits and Demerits
3. What do you know about Simple Arithmetic Mean?
4. Calculation of Arithmetic Mean in Special Cases
5. Weighted Arithmetic Mean

### Chapter 7: Measures of Central Tendency: Median and Mode

1. Median(Measures of Central Tendency): Meaning, Formula, Merits, Demerits, and Examples
2. Types of Statistical Series
3. Graphical Determination of Median
4. What do you know about Partition Value?
5. Mode: Meaning, Formula, Merits, Demerits, and Examples
6. Calculation of Mode in Individual Series
7. Calculation of Mode in Discrete Series
8. Grouping Method of Calculating Mode in Discrete Series
9. Calculation of Mode in Continuous Series
10. Calculation of Mode in Special Cases
11. Calculation of Mode by Graphical Method
12. Mean, Median and Mode: Meaning, Relationship, Best Average and Comparative Features

### Chapter 8: Measures of Dispersion

1. Measures of Dispersion: Meaning, Absolute and Relative Measures of Dispersion
2. Range: Meaning, Coefficient of Range, Merits and Demerits
3. Calculation of Range and Coefficient of Range
4. Inter Quartile Range and Quartile Deviation
5. Quartile Deviation and Coefficient of Quartile Deviation: Meaning, Formula, Calculation, and Examples
6. Mean Deviation: Meaning, Coefficient of Mean Deviation, Merits and Demerits
7. Calculation of Mean Deviation for different types of Statistical Series
8. Standard Deviation: Meaning, Coefficient of Standard Deviation, Merits, and Demerits
9. Standard Deviation in Individual Series
10. Methods of calculating Standard Deviation in Discrete Series
11. Methods of calculation of Standard Deviation in frequency distribution series
12. Combined Standard Deviation: Meaning, Formula, and Example
13. How to calculate Variance?
14. Coefficient of Variation: Meaning, Formula and Examples
15. Lorenz Curve: Meaning, Construction, and Application (W)

### Chapter 10: Index Number

#### Important Formulas:

Important Formulas in Statistics for Economics

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