As a subject, mathematics has been considered much important. There is also another branch of it which is known as statistics, and it also holds great significance in the modern times as there are many areas where statistics is used. Understanding the importance of this subject it has been a part of the learning in various standards of commerce stream. The beginning of the same is done from 11th standard. The best part is it is also used jointly with the economics to present various facts in an easy to understand manner.
Statistical Economics is an essential part the Class 12 curriculum in the Commerce stream. It is further important if you want to pursue higher studies doing Bachelors of Commerce or Economics. The students of Commerce are introduced to statistics in class 11. It deals with the collection, analysis, and representation of data in the form of tables, charts or graphs. When the data is a lot in quantity, it needs to be sorted for further calculations and analysis; statistics come into play. It is also needed for surveys and experiments to calculate percentages and rates. The mortality rates, literacy rate, sex ratio is all a result of statistical calculations which has its foundations in thecollection of information and analyzing of the same. The CBSE class 11 Statistics Economics Chapter 1 and Chapter 2 deals with the introduction and collection of data in statistics.
Chapter 1: This chapter expands on the basic introduction to the subject along with the definition of statistics, its role in economics, with a necessary introduction and conclusion is given in this chapter. The topics which are dealt with in this chapter are:
- STATISTICS IN ECONOMICS
- WHAT IS STATISTICS?
- WHAT STATISTICS DOES?
Chapter 2: Collection of data is the primary step which leads to further analyzing and representation of the same. Chapter 2 deals with the sources of data and the ways to collect it, census and surveys, errors related to sampling and non-sampling, and the census of India, etc. The census of India is a pertinent example of statistics which keeps an account of the number of people residing in the country along with their per capita income, thepercentage of people below poverty line, literacy rate and so on. Class 11 Statistics Economics Ch- 2 Collection of Data deals with the following topics:
- WHAT ARE THE SOURCES OF DATA?
- HOW DO WE COLLECT THE DATA? : Preparation of Instrument, Mode of Data Collection, Pilot Survey.
- CENSUS AND SAMPLE SURVEYS: Census or Complete Enumeration, Sample Survey, Random Sampling, Non-Random Sampling.
- SAMPLING AND NON-SAMPLING ERRORS: Sampling Errors and Non-Sampling Errors.
- CENSUS OF INDIA AND NSSO
These are the detailed topics that are taught in the aforementioned chapters. In case you want to practice questions and numerical related to the chapter, you can always buy the NCERT solution paper for the individual chapters and practice it to score the highest marks in the board exams.