Economic Statistics- Representation of Data through Statistics

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Economic statistics is a concept in applied statistics that is associated with the collection, compilation, processing, dissemination, as well as analysis of economic data. It is also common to consider data themselves as ‘economic statistics’. The data that is associated with economic statistics may include an economy of region, country, as well as group of countries. Economic statistics may also consider to a subtopic of official statistics for data that are produced by the official organizations. It is an important subject in the student’s curriculum.

Class 11 is an important phase in one student’s life, as they are about to appear for the class 12 exam in the upcoming year. So, it is very important to properly read and clear all the prescribed topics of all the subjects. Economic statistics is a conceptual as well as practical-based subject in which each and every topic should be properly cleared, unless it will be difficult for the students in order to answer the questions in the exam. The cbse class 11 Statistics Economics chapter 4 is one of the important chapters in this particular subject. This chapter is associated with the concept of ‘Presentation of Data’. In this chapter, various kinds of data are represented by different statistical methods. As Statistics is associated with lots of diagrams and so these diagrams are used in order to present different types of data that were collected through various survey etc. In this subject, most of the chapters are involved with data and some chapters are associated with data representation. It is very important to go through each and every concept properly so that the questions can be answered easily. This particular chapter is involved with some numerical questions, such as data representation by various diagrams. For that reason, a separate copy should be prepared for the numerical problems practicing. There are also various theoretical questions that should be practiced properly in order to take a solid preparation.

NCERT Solutions for Class 11 Measures of Central Tendency is involved with the solutions of the questions of chapter ‘Measures of Central Tendency’. The particular chapter is combined with theoretical as well as numerical questions based on a range of data. Mean, Median, and Mode are regarded as three important aspects of Statistics. Students should start their preparation as early as possible so that the syllabus can be covered perfectly. For the convenience of the students’, some important tips are given below:

  • At first, the preparation strategy should be built. The students can take help from their teachers in this regard.
  • In this step, they should go through the entire prescribed syllabus as well as the question structure and pattern.
  • Now, they can start clearing concepts from the very first chapter and then they can move on the next chapters one by one.
  • Students should read each and every line of their text very carefully as questions may be asked from any corner of the syllabus. They should also prepare their notes properly.
  • Students should regularly attend their classes as well as they can ask for help from the respective teachers if they get stuck in any concept.
  • After completing the entire syllabus, revising it once or twice is very important and then they can start solving the previous year question papers one by one.
  • In order to brush up their knowledge, they should appear for a number of mock tests before the actual exam.

Economic statistics is not a very difficult subject. With in-depth reading and proper practicing, the students can easily take a solid preparation in this subject.