Assignment: 1. 5 Definitions of Statistics & their Authors 2. Mention 5 reasons for studying Statistics 3. Mention 10 purposes of Statistics in Economics
Understand the Problem
The image shows a list of questions that appear to be part of a statistics assignment. The questions ask for definitions of statistics and their authors, reasons for studying statistics, and the purposes of statistics in economics.
Answer
Assignment: 1. Definitions of Statistics & their Authors: See answer for details. 2. Reasons for Studying Statistics: See answer for details. 3. Purposes of Statistics in Economics: See answer for details.
Here are the answers to your assignment:
- Definitions of Statistics & their Authors:
- Statistics is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data. (Source: Wikipedia)
- Statistics is the study of the collection, analysis, interpretation, presentation, and organization of data. (Source: BYJU'S)
- Statistics is used to conduct research, evaluate outcomes, develop critical thinking, and make informed decisions about a set of data. (Source: Investopedia)
- Statistics is defined as the study, collection, analysis, interpretation, and organization of data for different ultimate objectives. (Source: GeeksforGeeks)
Because the authors for the above could not be determined from the search results, the following options are provided:
- Ronald Fisher: known for his contributions to experimental design and statistical inference.
- Karl Pearson: one of the founders of modern statistics, known for the Pearson correlation coefficient and his work on biometrics.
- Reasons for Studying Statistics:
- To be able to effectively conduct research.
- To be able to read and evaluate journal articles.
- To further develop critical and analytical thinking skills.
- To make informed decisions.
- To evaluate outcomes.
- Purposes of Statistics in Economics:
- Quantitative Expression
- Deduction of Economic Theories
- Identification of Patterns and forecasting Economic Events
- Formulation of Policies
- To understand problems on production
- To understand problems on distribution
- To understand problems on consumption
- To describe the way in which people consume
- Data interpretation
- For collecting, classifying, and analyzing data.
Answer for screen readers
Here are the answers to your assignment:
- Definitions of Statistics & their Authors:
- Statistics is the discipline that concerns the collection, organization, analysis, interpretation, and presentation of data. (Source: Wikipedia)
- Statistics is the study of the collection, analysis, interpretation, presentation, and organization of data. (Source: BYJU'S)
- Statistics is used to conduct research, evaluate outcomes, develop critical thinking, and make informed decisions about a set of data. (Source: Investopedia)
- Statistics is defined as the study, collection, analysis, interpretation, and organization of data for different ultimate objectives. (Source: GeeksforGeeks)
Because the authors for the above could not be determined from the search results, the following options are provided:
- Ronald Fisher: known for his contributions to experimental design and statistical inference.
- Karl Pearson: one of the founders of modern statistics, known for the Pearson correlation coefficient and his work on biometrics.
- Reasons for Studying Statistics:
- To be able to effectively conduct research.
- To be able to read and evaluate journal articles.
- To further develop critical and analytical thinking skills.
- To make informed decisions.
- To evaluate outcomes.
- Purposes of Statistics in Economics:
- Quantitative Expression
- Deduction of Economic Theories
- Identification of Patterns and forecasting Economic Events
- Formulation of Policies
- To understand problems on production
- To understand problems on distribution
- To understand problems on consumption
- To describe the way in which people consume
- Data interpretation
- For collecting, classifying, and analyzing data.
More Information
Statistics is a crucial tool in economics, business, and many other fields, enabling informed decision-making and problem-solving through data analysis and interpretation.
Tips
Be specific when searching for definitions by prominent statisticians to get accurate attributions.
Sources
- Statistics: Definition, Types, and Importance - Investopedia - investopedia.com
- Statistics in Economics: Introduction, Positives, Limitations and ... - Toppr - toppr.com
- Statistics Definitions, Types, Formulas & Applications - BYJU'S - byjus.com
- [PDF] Uses of Statistics - SIES COLLEGE OF COMMERCE & Economics - siesce.edu.in
- What is the use of statistics in economics? - Quora - quora.com
- [PDF] Topic #2: Why Study Statistics - cornell.edu - lsc.cornell.edu
- Statistics for Economics | Functions, Importance, and Limitations - GeeksforGeeks - geeksforgeeks.org
- Statistics - Wikipedia - en.wikipedia.org
AI-generated content may contain errors. Please verify critical information
Thank you for voting!
