Characteristics of an index number

Reference no: EM1387287

Q1. Statistics plays a vital role in almost every facet of human life. Describe the functions of Statistics. Explain the applications of statistics.

Q2. a. Explain the various measures of Dispersion.

1508_What is correlation.png

b. Obtain the values of the median and the two Quartiles.

Q3. a. What is correlation? Distinguish between positive and negative correlation.

b. Calculate coefficient of correlation from the following data.

622_What is correlation1.png

Q4. Index number acts as a barometer for measuring the value of money. What are the characteristics of an index number? State its utility.

Q5. Business forecasting acquires an important place in every field of the economy. Explain the objectives and theories of Business forecasting.

Q6. The weekly wages of 1000 workers are normally distributed around a mean of Rs.

70 and a standard deviation of Rs. 5. Estimate the number of workers whose weekly wages will be:

a. Between 70 and 72
b. Between 69 and 72
c. More than 75
d. Less than 63

Reference no: EM1387287

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Characteristics of an index number : Index number acts as a barometer for measuring the value of money. What are the characteristics of an index number? State its utility.

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