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Category Archives: Statistics for Economics

The method of collecting data from a population, regarding a sample on a group of items and examining it to draw out some conclusion, is… Read More
A measure of central tendency that determines the centrally located value of a given series is known as the Median. The number of values of… Read More
It is not always possible for an investigator to easily measure the items of a series or set of data. To make the data simple… Read More
Meaning of Population: A population is a pool of similar objects, items, or events that are used to define the subject of study, which is… Read More
Data can not always be found in an organised manner. Therefore, an analyst or investigator has to properly organise the collected data for a better… Read More
A scientific measure of dispersion that is widely used in statistical analysis of a given set of data is known as Standard Deviation. Another name… Read More
Data is a collection of measurements and facts and a tool that help an individual or a group of individuals to reach a sound conclusion… Read More
The word mode is derived from the French word ‘La Mode’, meaning anything that is in fashion or vogue. A measure of central tendency in… Read More
Diagrammatic and graphic presentation of data means visual representation of the data. It shows a comparison between two or more sets of data and helps… Read More
Questionnaires & Schedule method of data collection : The questionnaires are the fundamental instrument for gathering information in review research. Fundamentally, it is a bunch… Read More
Spearman’s Rank Correlation Coefficient or Spearman’s Rank Difference Method or Formula is a method of calculating the correlation coefficient of qualitative variables and was developed… Read More
Statistics is the study of gathering, presenting, evaluating, interpreting, and administering data. The collected data is analyzed and interpreted, and used by various interested parties.… Read More
Simple Arithmetic Mean gives equal importance to all the variables in a series. However, in some situations, a greater emphasis is given to one item… Read More
Meaning of questionnaire: A questionnaire is a research instrument used by any researcher as a tool to collect data or gather information from any source… Read More
The data collected by an investigator is in raw form and cannot offer any meaningful conclusion; hence, it needs to be organized properly. Therefore, the… Read More

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