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Question Bank Class 11 Eco II CH 8 Use of Statistical Tools

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123 views

Question Bank Class 11 Eco II CH 8 Use of Statistical Tools

Uploaded by

Ishan Singal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Download as PDF, TXT or read online on Scribd
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QUESTION BANK

CLASS – 11
SUBJECT – ECONOMIC II
CHAPTER – 8 USE OF STATISTICAL TOOLS

1. Multiple Choice Questions (MCQs)

1. Which measure of central tendency divides a dataset into two equal parts?

o (a) Mean

o (b) Median

o (c) Mode

o (d) Range
Answer: (b) Median

2. Which of the following is a measure of dispersion?

o (a) Standard deviation

o (b) Median

o (c) Mode

o (d) Mean
Answer: (a) Standard deviation

3. The most suitable measure for comparing two different datasets is:

o (a) Range

o (b) Mean

o (c) Coefficient of variation

o (d) Variance
Answer: (c) Coefficient of variation

4. In a positively skewed distribution, the relationship among mean, median, and mode
is:
o (a) Mean = Median = Mode

o (b) Mean > Median > Mode

o (c) Mode > Median > Mean

o (d) Mean < Median < Mode


Answer: (b) Mean > Median > Mode

5. Which statistical tool helps in understanding the relationship between two variables?

o (a) Histogram

o (b) Correlation

o (c) Dispersion

o (d) Percentile
Answer: (b) Correlation

2. Short Answer Questions

1. Define mean and mention its types.


Answer: The mean is the average of a dataset. Types include:

o Arithmetic Mean

o Weighted Mean

o Geometric Mean

2. What is the purpose of using measures of dispersion in statistics?


Answer: Measures of dispersion help to understand the spread or variability in a dataset.
They indicate the reliability and consistency of the data.

3. Explain correlation in brief.


Answer: Correlation is a statistical tool that measures the degree and direction of the
relationship between two variables.

4. List two advantages of the median.


Answer:

o Not affected by extreme values.

o Easy to calculate for ordinal data.


5. What is the difference between absolute and relative measures of dispersion?
Answer:

o Absolute measures (e.g., range, standard deviation) provide the actual


magnitude of dispersion.

o Relative measures (e.g., coefficient of variation) express dispersion as a


percentage.

3. Long Answer Questions

1. Discuss the steps involved in calculating the arithmetic mean using the assumed mean
method.
Answer: Steps include:

o Choose an assumed mean (A) from the dataset.

o Calculate deviations (d = X - A) for each value.

o Multiply deviations by their respective frequencies (fd).

o Use the formula:

2. Explain the merits and demerits of the standard deviation.


Answer:
Merits:

 Sensitive to every value in the dataset.

 Suitable for advanced statistical analysis.


Demerits:

 Complex to calculate.

 Affected by extreme values.

3. What is the significance of correlation in economic analysis? Illustrate with examples.


Answer: Correlation is vital for understanding economic relationships, such as:

 Income and expenditure.


 Price and demand.
Examples include analyzing the effect of advertising on sales or GDP growth on
employment levels.

4. Define and differentiate between simple and weighted arithmetic mean.


Answer:

 Simple mean: Calculated by dividing the sum of all values by the number of observations.

 Weighted mean: Accounts for the relative importance (weights) of each value.
Formula for weighted mean:

4. Case Study-Based Questions

Case Study 1:
A company conducted a survey on the daily sales (in units) of its product over 10 days:
50,55,45,60,50,55,40,65,60,50
Calculate the mean daily sales.
3. Determine the mode.
Answer: The mode is the most frequent value = 505050 units

4. What is the range of the sales?


Answer:

5. Interpret the results in terms of central tendency.


Answer: The mean and median are close, indicating the data is fairly symmetric. The mode
highlights the most common sales figure.

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