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Category Archives: Statistics for Economics

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
A histogram is a graphical representation of the frequency distribution of continuous series using rectangles. The x-axis of the graph represents the class interval, and… Read More
The ‘word’ mode gets its roots from the old French word ‘La Mode’, which means most popular phenomenon, and from the Latin word ‘Modus’, meaning… Read More
The word mode comes from the Latin word ‘Modus’, meaning measurements, quantity, way, or manner. In statistics, Mode refers to the variable that occurs most… Read More
The word Statistics is derived from the Greek word ‘Statistique,’ Latin word ‘Status,’ the Italian word ‘Statista,’ and the German word ‘Statistic.’ Statistics is defined… Read More
Mode is the value from a data set that has occurred the most number of times. It is one of the most crucial measures of… Read More

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