Download App

Use of Statistical Tools — Economics STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceEconomicsUse of Statistical Tools4 Marks
Question
What decisions must be taken prior to data collection.
✓

Answer

Following steps need to be taken before data collection:
  1. Develop a complete plan for survey: It is important to draw a complete plan for a statistical survey before we start collecting data actually. We need to define the objective of the project should be clearly specified. On the basis of this objective, you will decide sources and methods of data collection and sample size. We also need to define our population precisely. If we are conducting a project on child labour, which area we are covering and how many households are being taken as a sample. At school level sample size should be between 30 to 50. You will have to plan three things:
  1. What data to be obtained (objective)
  2. From whom data are to be obtained (Population)
  3. By what methods the data are to be obtained-primary or secondary
  1. You also have to decide the expenditure to be incurred and time availability: The expenditure and the time period will determine most of the subsequent steps to be taken:
  1. Decide whether to adopt census method or sample method: For conducting survey on any issue, the investigator has two options: sample and census. Which method will depend on budget, availability of time and accuracy requirement?
  2. Preparing Questionnaire: Designing the questionnaire is influenced by many considerations like number of questions to be included, language of questions, types of questions, ordering of the questions etc. It has been explained in detail in chapter-3 developing a Questionnaire.
  3. Mode of Distribution of Questionnaire: There are different ways in which questionnaire can be sent. It can be personal or by post or by e mail. In personal it can be filled either by respondent or enumerator. These methods have also been discussed in detail in the chapter-3.
  4. Check the filled in forms for completeness and consistency: It is the last stage in collection of data. This stage comes when duly filled forms are returned by the respondents. Each questionnaire must be examined and edited if necessary.

Need a full question paper?

Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.

Start Generating Free

Explore more

More "4 Marks Question" from Use of Statistical Tools→Use of Statistical Tools — all question types→Economics STD 11 Commerce question papers→CBSE Board STD 11 Commerce question papers→CBSE Board question paper generator→

Similar questions

Find the mean deviation and coefficient of mean deviation from the following data.
X 10 12 18 23 34 45 62 75
→
Discuss direct oral investigation method of collecting primary data.
→
Locate median of the following distribution:
Variable (X)
10
11
12
13
14
15
16
Frequency (f)
8
15
25
20
12
10
5
→
Given below is the market demand and market supply of a commodity with respect to the possible prices. Analyse the data given below and answer the questions that follow:
Price (₹)1020304050
Market Demand (Units)550450350250150
Market Supply (Units)150250350450550
(i) Estimate the equilibrium price of the given commodity.
(ii) What will be the equilibrium quantity of this commodity?
(iii) At price ₹ 20 what market situation prevails?
(iv) At price ₹ 50 what market situation prevails?
→
From the following schedule, find out the level of output at which the producer is in equilibrium. Give reasons for your answer
Output (Units)1234567
Price (Rs.)24242424242424
Total Cost26507292115139165
→
Using the simple aggregative method, calculate the index number for the given data:
  A B C D
$P_1$ 15 22 20 27
$P_0$ 10 20 18 25
→
What is the degree of elasticity of demand in case of the following demand curves:
(i) Straight line parallel to X-axis?
(ii) Straight line parallel to Y-axis?
(iii) A rectangular hyperbola curve?
→
Read the following case study carefully and answer the questions 1-2 on the basis of the same:
The elasticity of demand is great for high prices, and great, or at least considerable, for medium prices; but it declines as the price falls; and gradually fades away if the fall goes so far that satiety level is reached. Water is one of the few things the consumption of which we are able to observe at all prices, from the very highest down to nothing at all. At moderate prices the demand for it is very elastic. But the uses to which it can be put are capable of being completely filled: and as its price sinks towards zero the demand for it loses its elasticity. Nearly the same may be said of salt. Its price in England is so low that the demand for it as an article of food is very inelastic: but in India the price is comparatively high and the demand is comparatively elastic.
1. From a point of intersection of the two demand curves, a flatter demand curve shows higher elasticity of demand. Do you agree?
2. Higher the price level, higher should be the elasticity of demand. Comment.
→
A department store sells stereo systems, television sets and radios. The percentage distribution of the total sales volume (in ₹) is estimated as 30% stereos, 50% televisions and 20% radios. The price of one stereo, one television and one radio in 2009 was ₹ 20,000, ₹ 15,000 and ₹ 500 respectively, while their respective price in 2012 were ₹ 25,000, ₹ 20,000 and ₹ 800.
A weighted price index for 2012 with base 2009 is to be computed.
  1. Which index number formula is appropriate? Why?
  2. Compute the index.
→
Is Economics a positive science or a normative science? Explain.
→