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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

What is production ?

What is saving ?

Define investment.

Who are the agents of production ?

Define economic problem.

Define Statistics as a plural noun.

Define statistics as a singular noun.

Would it be called statistics if it is said that there are 2000 students in our school ?

Name the stages of statistical study.

Define the concept of universe as used in statistics.