Economics 4 Marks Question

The characteristics of a good sample are as follows:
i. A Sample must represent characteristics of the entire universe population i.e., it should be representative.
ii. It must be adequate enough to offer reliable conclusions.
iii. The units of the sample should be independent of each other.
iv. In case more than one sample is selected from a given population, then these samples should be homogeneous.
v. To have a correct picture of the problem under investigation, it is important to draw a sample keeping in view the objective of the investigation.

Variable is shown on X axis and frequencies are shown on Y axis.

The primary difference between classification and tabulation is that the process of classifying data int groups is known as classification of data, whereas tabulation is the act of presenting data in tabular form, for better interpretation.
Differences between classification and tabulation of data are:

Basis	Classification	Tabulation
Meaning	Classification of data means that the data is arranged in different classes according to the presence or absence of certain attributes.	Tabulation of data means that the classified data is arranged in rows and columns, under suitable heads and sub-heads,
Sequence	Classification precedes the process of tabulation.	Data can be tabulated only after it has been classified.
Method or Process	Classification is a method which facilitates statistical analysis.	Tabulation is a process which facilitates the presentation of data by preparing table.
Tool	It is a tool which helps to organise data.	It is a tool which helps in the presentation of data.
Bifurcates data into	Categories and sub-categories.	Headings and sub-headings.
Purpose	To analyse data.	To present data.

'Less Than' Cumulative Frequency Distribution. It is obtained by adding successively the frequencies of all the previous classes including the class against which it is written. The cumulate is started from the lowest to the highest size.

Wages (in Rs.)	Cumulative Frequency (cf)
Less than 110	4
Less than 120	16
Less than 130	36
Less than 140	43
Less than 150	48

‘More Than’ Cumulative Frequency Distribution. It is obtained by finding the cumulate total of frequencies starting from the highest to the lowest class.

Wages (in Rs.)	Cumulative Frequency (cf)
Less than 100	48
Less than 110	44
Less than 120	32
Less than 130	12
Less than 140	5