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CHAPTER # 1
Q1:
Define Statistics as a science.
Ans: Statistics is a science of collection, presentation, analysis and interpretation of numerical
data.
Statistics is a group of methods used to collect, analyze, present, and interpret data and to
make decisions.
Q2: Define statistics in the plural sense.
Ans: Statistics are aggregates of facts expressed in numerical form.
Q3:
Define Descriptive Statistics.
Ans: Descriptive statistics consists of methods for organizing, displaying, and describing data
by using tables, graphs, and summary measures.
Q4:
Define Inferential Statistics.
Ans: Inferential statistics consists of methods that use sample results to help make decisions or
predictions about a population.
Q5:
Define Population.
Ans: A population consists of all elements, individuals, items, or objects whose characteristics
are being studied.
Q6:
Define Sample.
Ans: A portion or part of the population selected for study is referred to as a sample.
Q7:
What is meant by parameter?
Ans: A measure calculated from population is called parameter.
Q8:
What is meant by statistic?
Ans: A measure calculated from sample is called statistic.
Q9:
Define classification.
Ans: Classification is a process of arranging the collected data into different classes or categories
according to some common characteristics.
Q10: What are the characteristics or functions of Statistics?
Ans: Following are the characteristics of Statistics:
i.
ii.
iii.
iv.
It helps in collecting data in systematic way.
It helps in presenting data in logical form.
It helps in prediction.
It helps in formation of policies.
Business Statistics I.Com Part-II
Punjab College Sambrial
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Q11: What are the limitations of Statistics?
Ans: Following are the limitations of Statistics:
i.
Statistics deal only with aggregate of facts.
ii.
Most of the statistical techniques are useful for quantitative data.
iii.
Statistical results sometimes leads to confusion.
iv.
Statistical concept are same for social and physical sciences.
Q12: Define variable.
Ans: A characteristic that varies (changes) from individual to individual, time to time, place to
place is called variable. For example, No. of students in a class, height of a person, age of
a person, gender of a person, eye color (black, brown, green), weight, religious affiliation
of people.
Q13: Define constant.
Ans: Quantities which don’t vary (change) from individual to individual are called constant. For
example,   3.14159, e  2.71828 .
Q14: Define quantitative variable.
Ans: A variable that can be measured numerically is called a quantitative variable. For example,
No. of students in a class, height of a person, age of a person, weight of a person.
Q15: Define qualitative or categorical variable.
Ans: A variable that cannot be measured numerically is called a quantitative variable. For
example, gender of a person, the brand of a computer, religious affiliation of people.
Q16: Define discrete variable.
Ans: A variable whose values are countable is called a discrete variable. For example, no. of
students in a class, no. of children in a house, no. of flowers in a plant, no. of words in a
sentence.
Q17: Define continuous variable.
Ans: A variable that can assume any numerical value over a certain interval or intervals is called
a continuous variable. For example, time for a paper in college, the height of a person,
weights of people. Note that any variable that involves money is considered a continuous
variable.
Q18: What is meant by statistical enquiry / method?
Ans: Statistical enquiry is a search carried out by using statistical techniques to solve a specific
problem.
Q19: What is meant by complete enumeration?
Ans: If data is collected from each and every element of the population understudy, the method
is called complete enumeration. It is also called Census. For example, population census,
agriculture census.
Business Statistics I.Com Part-II
Punjab College Sambrial
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Q20: What is meant by part enumeration?
Ans: If data is collected from a part of the population (sample) understudy, the method is called
part enumeration.
Q21: What are the steps of statistical enquiry?
Ans: A statistical enquiry consist of following steps or phases:
i.
Collection of data
ii.
Organization and presentation of data
iii.
Analysis of data
iv.
Interpretation of data
v.
Preparation of data
Q22: Write the sources for collection of data.
Ans: There are two sources or types of data:
i.
Primary data
ii.
Secondary data
Q23: What is primary data?
Ans: The raw data which has just been collected from the source and has not gone through any
statistical treatment is called primary data. Primary data is always ungrouped data.
Q24: What is secondary data?
Ans: The data which has already been collected by someone and has undergone a statistical
treatment is called secondary data. Secondary data is always grouped data.
Q25:
Name the methods for collection / sources of primary data.
Ans: Following are the sources for collection of primary data:
i.
Personal Investigation
ii.
Through Investigator
iii.
Through Questionnaire
iv.
Through Local Source
v.
Through Telephone
vi.
Through Internet
Business Statistics I.Com Part-II
Punjab College Sambrial