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12th Standard Economics English Medium - Introduction to Statistical Methods and Econometrics 2 Mark Book Back Question Paper and Answer Key 2022 - 2023

Published on: 03/09/2022

QB365 provides a detailed and simple solution for every Possible Book Back Questions in Class 12 Economics Subject - Introduction to Statistical Methods and Econometrics , English Medium. It will help Students to get more practice questions, Students can Practice these question papers in addition to score best marks.

Download Tamil Nadu 12th Standard Economics question papers, model tests, one-mark questions, important questions, and public exam papers in PDF format. Free study materials and answer keys for TN State Board students.

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Std: 12th Standard - Economics

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Questions:

Generic 2

7 x 2 = 14

What is Econometrics?

Define Regression.

Define Correlation.

What are the kinds of data?

What do you mean by Inferential Statistics?

What are the kinds of Statistics?

What is Statistics?

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Answers Key:

Generic 2

7 x 2 = 14

Econometrics may be defined as the social science in which the tools of economic theory, mathematics and statistical inference are applied to the analysis of economic phenomena.

(i) Regression means going back and it is a mathematical measure showing the average relationship between two variables.
(ii) It indicates the cause and effect relationship between the variables and establishes functional relationship.

(i) Correlation is a statistical device that helps to analyse the covariation of two or more variables.
(ii) Correlation is the relationship between two or more variables which vary with the other in the same or the opposite direction.

(i) Based on characteristics there are quantitative and qualitative data.
(ii) Qualitative data is classified as nominal data and rank data.
(iii) Based on the data sources there are primary data and secondary data.

The branch of statistics concerned with using sample data to make an inference about a population of data is called Inferential Statistics.

There are two major types of statistics.
(i) Descriptive statistics
(ii) Inferential statistics

(i) Statistics as a science of estimates and probabilities.
(ii) Statistics is the collection, organisation, presentation, analysis and interpretation of numerical data.