use of statistic in economics

Constructing and interpreting graphical displays of distributions of univariate data: Dotplot, stemplot, histogram, cumulative frequency plot Center and spread Clusters and gaps Outliners and other unusual features Shape Summarizing distributions of univariate data: Measurin..

: Properties of the Normal distribution Using tables of the Normal distribution The Normal distribution as a model for measurements Sampling distributions: Sampling distribution of a sample proportion Sampling distribution of a sample mean Central Limit Theorem Sampling distribution of a ..

Conclusion - Statistics is an interesting branch of mathematics which is used in various subjects like politics, history, geography, economics to name a f..

Statistics is an interesting branch of mathematics which is used in various subjects like politics, history, geography, economics to name a few...

A travelling sales man can find the shortest routes to save time / fuel cost. The most economic and efficient manner of locating manufacturing plants and distribution centres may be used. Linear programming may be used for effective and efficient production management..

The graphical method of solving an LPP is possible only if there are two decision variables (say x and y). This method is not suitable if there are three or more decision variables. In this case, there is a powerful method called 'simplex method'. The wide usage of liner programming helps in ..

Today graphics, tables, reasoning, estimation and prediction are playing a very important role in stating the facts in terms of figures. Statistics deals mainly in communicating facts and figures in terms of a method called statistical method. Collection, classificat..

Sometimes a circle is used to represent a given data. The various parts of it are proportionally represented by sectors of the circle. Then the graph is called a Pie Graph or Pie Cha..

Sometimes a circle is used to represent a given data. The various parts of it are proportionally represented by sectors of the circle. Then the graph is called a Pie Graph or Pie Char..

A set of observations is called a called a collection of data. These observations should possess some common characteristics. They are recorded and used for further study. The quantities such as age, height and number of students are called variable..