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Impotant Theory Questions Statistics

The document outlines key concepts related to measures of central tendency, dispersion, skewness, correlation, regression, time series analysis, and index numbers. It discusses the significance, properties, and computation methods for various statistical measures, as well as their applications and limitations. Additionally, it covers probability concepts and distributions, including binomial, Poisson, and normal distributions.

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Shashwat Goyal
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7 views3 pages

Impotant Theory Questions Statistics

The document outlines key concepts related to measures of central tendency, dispersion, skewness, correlation, regression, time series analysis, and index numbers. It discusses the significance, properties, and computation methods for various statistical measures, as well as their applications and limitations. Additionally, it covers probability concepts and distributions, including binomial, Poisson, and normal distributions.

Uploaded by

Shashwat Goyal
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd
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Important Questions

Meaning and significance/Objectives of measures of central tendency​


​
Characteristics of a good measure of central tendency​

Merits and demerits of the arithmetic mean/median/mode

Properties of Arithmetic Mean​

Situations where median is preferred over mean​

Situations where mode is preferred over mean and median​

Computation of arithmetic mean for grouped and ungrouped data​

Effects of extreme values (outliers) on mean, median, and mode​

Empirical relationship between mean, median, and mode​

Meaning and significance of measures of dispersion​

Characteristics of a good measure of dispersion​

Difference between absolute and relative measures of dispersion​

Standard deviation: definition, significance, and merits

Properties of Standard Deviation​

Variance and its role in measuring data variability

Coefficient of variation: definition and use in comparing data sets​

Meaning and significance of skewness in a data set​

Types of skewness: positive and negative skewness with examples​

Difference between symmetrical and asymmetrical distributions​

Definition of moments and their role in describing a distribution​

Definition and interpretation of kurtosis: leptokurtic, mesokurtic, and platykurtic​


Difference between correlation and causation​

Properties of Coefficient of correlation

Scatter diagram method: concept and its role in identifying correlation

Probable error and Standard error​

Difference between correlation and regression​

Properties of regression coefficients​

Relationship and difference between correlation coefficient and regression coefficients

Standard error of estimate​

Definition and significance of time series analysis​

Components of a time series: trend, seasonal, cyclical, and irregular variations​

Additive vs Multiplicative models in time series analysis/ decomposition​

Limitations and challenges in time series forecasting​

Definition and significance of index numbers in economics and business


decision-making​

Characteristics of a good index number​

Why Fisher’s Index is considered as an Ideal Index​


Problems and limitations in the construction of index numbers​

Cost of living index number: meaning and uses​

Addition and multiplication theorems of probability​

Conditional probability and concept of independent events​

Difference between mutually exclusive and independent events​

Probability distribution: concept and types​

Binomial distribution and Poission Distribution: assumptions, properties, and


applications​

Normal distribution: characteristics and significance in real-world data​

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