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Partition Values — Economics STD 11 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 11 Commerce / ArtsEconomicsPartition Values4 Marks
Question
Partition values have application only in theory but not in practice.
OR
Partition values are not useful in economics.
✓

Answer

No, I do not agree with the statement.
  • Partition values like quartiles are useful to economists to know the final information related to income, sales, stock data, etc.
  • Also, deciles and percentiles help economists to measure in the detail the poverty line, inequality of income, household, wealth, etc.
  • Hence, partition values are useful in Economics.

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