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Introduction
Question
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What is meant by statistical methods ? What are the important statistical methods ?

Answer

Statistical methods refer to general principles and techniques which are commonly used in the collection, analysis and interpretation of data.

Following are the important statistical methods :

1. Collection of data.

2. Organisation of data.

3. Presentation of data.

4. Analysis of data.

5. Interpretation of data.

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Some More Questions From Introduction Chapter

Define economic activity.

Who is a consumer ?

What is consumption ?

Who is a producer ?

What is production ?

What is saving ?

Define investment.

Who are the agents of production ?

Define economic problem.

Define Statistics as a plural noun.