Karnataka 1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods

1st PUC Economics Uses of Statistical Methods Textbook Questions and Answers

I. Choose the correct answer (each question carries 1 mark)

Question 1.
The use of statistical tools helps in
(a) Developing a project
(b) Determining a project
(c) Marketing
(d) Production
Answer:
(a) Developing a project

1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods

Question 2.
Developing a project helps in
(a) Consumption
(b) Distribution
(c) Collecting data
(d) Analyzing data and suggesting improvement in a system
Answer:
(d) Analyzing data and suggesting improvement in a system

Question 3.
The first step in making a project is
(a) Analysis and interpretation
(b) Collection of data
(c) Identifying a problem
(d) Organization of data.
Answer:
(c) Identifying a problem

Question 4.
Bibliography indicates
(a) Primary sources
(b) Secondary sources
(c) Oral resources
(d) TV news
Answer:
(b) Secondary sources

1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods

Question 5.
Developing a project helps to predict future prospects and suggestions relating to
(a) Growth and government policies
(b) Past things
(c) Invisible crisis
(d) Collection of data
Answer:
(a) Growth and government policies

II. Fill in the blanks (each question carries 1 mark)

Question 1.
The data can be presented with the help of ………….
Answer:
Tabulation and diagrams

Question 2.
The survey helps to determine the method of collection of…………
Answer:
Data

Question 3.
The knowledge of various statistical tools is necessary for………………..
Answer:
Analysis of data

Question 4.
The choice of target groups is very important while preparing the
Answer:
Questionnaire

1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods

Question 5.
The postal questionnaire must have giving details about the purpose of the inquiry……………
Answer:
Courin letter

III. Answer the following questions in a word I sentence (each question carries I mark).

Question 1.
Why do we need statistical tools?
Answer:
Statistical tools are needed in our daily life and are used in the analysis of data pertaining to economic activities such as production, consumption, distribution, banking and insurance, trade, transport, etc.

Question 2.
Mention the last step in developing a project.
Answer:
The last step in developing a project is to draw meaningful conclusions after analyzing and interpreting the results.

Question 3.
What does the bibliography indicate?
Answer:
The bibliography indicates the details of all the secondary’ sources i.e. magazines, newspapers, research reports, etc used for developing the project.

Question 4.
What is a project?
Answer:
A project is a well-thought-out action plan designed to attain predetermined objectives.

Question 5.
What is consumer awareness?
Answer:
Consumer awareness refers to awareness about the rights of consumers.

1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods

IV. Answer the following questions in about four sentences (each question carries 2 marks)

Question 1.
Mention the name of any four statistical tools. (N – 2018)
Answer:
The most important statistical tools are the measures of central tendency, dispersion, correlation, bar diagrams, pie charts, histograms, etc.

Question 2.
Write the first four steps in developing a project.
Answer:
Following are the four steps in developing a project:

  • Identifying a problem or an area of study
  • Choice of the target group
  • Collection of data
  • Organization and presentation of data.

1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods

Question 3.
Write the role of the questionnaire in developing a project. (S-2018)
Answer:
The collection of data by using the primary method can be done by using a questionnaire or an interview schedule which may be obtained by personal interviews, mailing or postal surveys, phone, email, etc. Preparation of a well-balanced questionnaire will help the process of research simple, fast and accurate. It becomes the record of what is actually surveyed.

V. Answer the following questions in about twelve sentences (each question carries 4 marks)

Question 1.
Write the importance of statistical tools.
Answer:
The statistical tools are important for us in our daily life and are used in the analysis of data pertaining to economic activities like production, consumption, distribution, banking and insurance, trade, transport, etc.

The statistical tools are very helpful in developing a project. For example, we may have to collect information about a product from the consumer or about a new product or service to launched in the market by the producer or analyze the spread of information technology in schools and so on. Developing a project by conducting a survey and preparing a report will help in analyzing relevant information and suggesting improvements in a product or system.

Question 2.
Explain any three steps in developing a project.
Answer:
Following are the steps towards making a project:
(a) Identifying a problem or an area of study: It should be clear about what we want to study. On the basis of the objective, we have to proceed with the collection and processing of the data. For example, the production or sale of a product like a car. mobile phone, soap, or detergent may be an area of interest. So we need to identify- the area of study first before proceeding further for developing a project.

(b) Choice of the target group: The identification of the target group is important for framing appropriate questions for our questionnaire. If our project relates to cars. then our target group will be middle income and the higher income groups. For the project studies relating to consumer products like soap, we can have both rural and urban for the survey. Hence, the choice of target groups, to identify those persons on whom to focus our attention, is very important while preparing the project report.

1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods

(c) Collection of data: The objective of the survey will help us to determine whether the data collection should be undertaken by using the primary method, secondary method, or both methods. A first-hand collection of data by using primary methods can be done by using a questionnaire or an interview schedule which may be obtained by personal interview, mailing, phone, etc.

(d) Organisation and presentation of data

(e) Analysis and interpretation of data

(f) Conclusion

(g) Bibliography

Question 3.
Write a note on a sample project.
Answer:
A sample project may be prepared with the help of various statistical tools like a collection of data, using the measures of central tendency, representing the data in diagrams, etc. The questionnaire prepared, may vary depending upon the subject of the study.

Let us imagine, we want to set up a new retail shop and want to choose a variety of toothpaste brands to sell. A sample project based on a primary source of data collection could be prepared for toothpaste.

1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods

This could be started by assuring the concerned person or party, that the information required is for a survey and will not be used for any other purpose. This is done through a covering letter in which it can be stated that all the information provided by the person shall be kept confidential.

After collecting the required information we have to organize and classify data for the purpose of choosing brands of toothpaste that we want to sell. After classifying the data, the same has to be represented in the form of a tabular presentation and graphical representation. After presenting the same in table and graph the same would be interpreted according to facts and figures through proper observations. After observations of the data analyzed, conclusions must be drawn based on the observations made.

The following is the sample project:
Data analysis and interpretation: After collecting the required information you now have to organize and classify data for the purpose of choosing brands of toothpaste that you want to sell. Hypothetical data is given below for your reference where you will now use the statistical tools such as pie diagrams, bar diagrams, mean, standard deviation, etc.

1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods

(a) Area of distribution:

City users 68%
Village users 32%

Observation: The majority of users belonged to urban areas.

(b) Age distribution:
1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods.1

Age in years No. of Persons
Below 5 75
05-10 58
10-20 90
20-30 140
30-40 90
Total 453

1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods

1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods.2
Observation: The majority of the persons surveyed belonged to the age group 20-30.

(c) Family size:

Family size No. of families
2-3 10
4-5 35
6-7 25
Above 7 15
Total 85

Observation: The majority of the families surveyed have 4-5 members.
1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods.3

1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods

(d) Preferred brand toothpaste
1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods 3
Observation: Pepsodent, Colgate, and Close-up were the most preferred brands.

(e) Basis of selection features of family members:

Advertisement 16
Persuaded by the dentist 5
Price 30
Quality 40
Taste 25
Ingredients 11
Standardized marking 55
Tried new product 10
Company s brand name 30

1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods

Observation: The majority of the people selected the toothpaste on the basis of standardized markings quality, price, and company’s brand name

(f) Nadia Influence

Advertisement Families Influenced
Television 15
Newspaper 36
Magazine 24
Cinema 25
Sales Representative 12
Exhibits (stall) 12
Radio 16

Observation: The majority of people came to know about the product either through television or through the newspaper.
1st PUC Economics Question Bank Chapter 9 Uses of Statistical Methods.4

1st PUC Economics Question Bank with Answers

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