5 Questions
What are the objectives of Classification of Data?
The objectives of Classification of Data are to simplify the data, to facilitate comparison, to provide a basis for tabulation, and to help in understanding the nature of the data.
What are the uses of Index Numbers?
The uses of Index Numbers include measuring changes in economic, business or other quantitative data, comparing different time periods, and making forecasts or predictions.
What are the Measures of Central Tendency?
The Measures of Central Tendency include the mean, median, and mode, which are used to describe the center of a data set.
What is the Lorenz curve (Concentration curve) used for?
The Lorenz curve (Concentration curve) is used to show the distribution of economic resources or wealth within a population, and to analyze income inequality.
What is the GINI coefficient?
The GINI coefficient is a measure of statistical dispersion intended to represent the income or wealth distribution of a nation's residents, and is commonly used as a measure of inequality of income or wealth.
This quiz covers the lecture notes for Statistics 1, including vocabulary of descriptive statistics, collecting data, operators, organization of data, and univariate statistical series.
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