MICROECONOMICS CH : 7 PRODUCTION FUNTION AND RETURNS TO A FACTOR — Economics STD 11 Commerce — Question

Locate mode graphically from the given information:

Expenditure	0-10	10-20	20-30	30-40	40-50
Number of families	14	23	27	21	15

What are the main steps in construction of consumer price index?

What are the objectives of calculating the measures of central tendency?

Analyse the diagram given alongside and answer the questions that follow:
(i) Which of the following curves represent market demand?
(ii) Given that market demand at price 30 is 18 units and demand by A and C is 4 and 8 units respectively estimate the demand by B.
(iii) Estimate the slope of demand curve at point 'a' as indicated above.

Calculate median from the following data:

Marks	More than 0	More than 10	More than 20	More than 30	More than 40	More than 50
No. of students	50	42	38	28	16	3

Which values are of utmost importance in making of a project?

Prepare a blank table to show distribution of population according to age, sex and literacy for a particular year.

Explain any three limitations of statistics.
OR
State any three limitations of statistics.

A scatter diagram is drawn by Avantika to assess the degree of correlation between price and quantity demanded. On plotting the points, she observes that all the points lie on the same downward sloping line and concludes that both the variables exhibit perfect positive correlation. Is she correct? Give reasons for your answer.

Write three merits of standard deviation.