Deals with collection, and presentation,

of numerical data.
analysis, interpretation

Scope
Collection of data,
Presentation of data,
distribution and Analysis of data,
A study of production,
and services. Interpretation of data,
consumption of goods
Forecasting by using the findings.
Tntraduction Statistics
Mea
üng of Econo nomics
numbers,
Statistics simplifies great and complex
aueIoduj Statistics makes data comparable,
Functions Statistics enlarges individual experience,
Statistics helps in formulation of policies,
It helps in finding estimates,
It helps in measuring periodical changes.
to of poverty
Statistics the economic problems, e.g, analyse problem
the
analyses to use it while implementing
the economic decisions, e.g.,
Statistics supports to take
a national policy, facts and related to Trace the Mind Map?
figures
Statistics to study the relationship among various Level
helps and
poverty, First Level Second
economics, e.g., to
in an understandable form.
study the unemployment data
Statistics represents various types of economic
 e Diagrams
.
Polygon
Histogram
Sure:8eya Kouando
Sydeag
aur1ogaunue Tabular
Graagpr hmicatic JurueaN
saqeue
e3IO
d j o uoyezrues*
Sources ot Data
Collection of DarData
Meth
f
India
&
NSSO Sam
snsud
SJOLA8
Budues-uO
 98 5
dustrial PrO aresayo
x a p u j a o u d °

Tal Production
Index
SurueaN
Ses of Index Numbers
a n ' sRank Correlai
ation
Spearmans RankC
SaqumN
x p
uoneairOD
Karl Pearson's ME
For Continuous Series
Scater earson'
Diagrm s Method
Central MeTeansdaure.s of Meaning
denc Mean Simple MMo.
apoN
uepaN
s o u a se n p t a I p ui
j0 3
sauag ajaIs}d** WeiNghted Mean
snonuguo)
sauasSTonuguos10 Diagram
Series.Discrete SeneorContinuous
 roeconomics Mic
Tmative
conomics Sourouo330IDEN
ToProddctuctiioonn PossiPosbibiliiltyty Fro
Frontier
W
o u o y MJ o
Opportu aonpod0}UIos,
hat to
Prod,.
Produc
 Price
Lmaaw nd of
DemCaunrdve and
Suuee
Shifts in the nd Utility Marginal
Demand Curve
pueuagJo Eqginal Utilty uibriu
Kaogsea Utility
sumer
niiqmbg
s
Measuremen
Elastic
Unitaryc 1aunsuo
onsea
Josuoypuo
unuqmDs
Ajaagejod
I n e l a s t i c y

In
tively auunsuoo
Josaoualaja
The Consum
deNaua13HIpuj Budgetonsumer
Indif erence Budge
C Budget Set
a n )a o u a l 3 } y i p u e Meanine
y oa d e y s 3
 Total output of a commodity
produced. The output per unit
of variable input.

The firms do not have enough time,

to change the factors of production,
i.e., some remain constant. a8e13A apod
Dduct
Different Products

hort-un The change in output per

Marginal Produc unit of change in the input
when all other inputs remain
constant.
Production Production
Function
Function

Return to a
Factor
Return to a factor
relate to the short -
The supply of inputs, labour and period production
capital is assumed to be elastic. function when one
factor is varied keeping
the other factors fixed
in order to have
more output.
Trace the Mind Map
First Level Second Level Third Level
 ii

ua
pueuuaq ddns
bothChange
f
shifts in Demand
in
Shifts

Bffects
a n d Supply
S

SameajA
uon eduo
ceiling
Calculation of Arithmetic Mean for Different Series: A

Series
Gl
Methods of Calculation
ance
of Arithmetic Mean
1. Individual Series (a) Direct Method:
Formula: = 2X
N
(b) Assumed Mean Method:

Formula: X =A + 2d
N

(c) Step-deviation Method:

Formula: X = A + x C
N
Direct Method:
2. Discrete Series/Frequency Array|(a)
Formula: = 2IX

(b) Assumed Mean Method:

Formula: X =A+ Ztd

2f
(c) Step-deviation Method:

Formula: X=A + Ef
xC
3. Continuous Series/Frequency (a) Direct Method:
Distribution Formula: =

(b) Assumed Mean Method:

fd
Formula: X =A+
(c) Step-deviation Method:

Formula: X =A + xC
2f
 Methods of Calculating Median-A Glance
Type of Series
Method of Calculation
1. Individual Series
(a) M Size of 2 Jth item
(Here, N =Total of items.)
(b)
(6) Ir
It (N+1
2 comes to be in fractions, the median
would be average of the two middle values of
the series.
2. Discrete Series/
Frequency Array
M Size of 2 th em

(Here, N =Sum of the frequencies Zt.)

3.Continuous Series/
Frequency Distribution
M Size of (th item
Median class corresponds to that cumulative
frequency which includes the above value.
Following formula is applied to determine actual
median value:
N
M + f
xi
 Calculation of Mode-A Glance
Types of Series
Method of Calculation
1. Individual Series
(a) The value that occurs the most in
the series isidentified as mode of the
series by inspection method.
(b) If the frequency of all values is
equal
the same are changed into discrete
frequency distribution and then mode
is calculated.

2. Discrete Series/ (a) The value that occurs the most in

Frequency Array the series is identified by inspection
method.

(b) If items with highest frequency

3. Continuous Series/
Frequency Distribution
are more than one, then grouping
method is used.
(a) Exclusive: Series with highest
frequency is called modal class. The
actual value of mode is determined
using the following formula:
Z =ht 2-fo- ffox
(b) Inclusive: Inclusive series is
converted into exclusive series.

4. Moderately Asymmetrical Z 3M-2X

Distributions
 Graph: Scattered Diagram

(A)r=+1 X (B)r=-1 X (C)

(Perfect Positive) (Perfect Negative) (Positive)

(D) Negative (E) No Correlation X

 FORMULAE AT A GLANCE
Karl Pearson's Coefficient of Correlation
=
Exy Zxy Zxy
r
1. Actual Mean Method Nxo, x y
N x
Zx?
N
X y2
N
Ex2x Zy2

NEXY 2X.ZY
2. Direct Method
NZX2-(x)? x NZY2-(ZY)2

NZdxdy-Zdx x Edy
3. Short-Cut Method r
NEdx- (dx) x NZdy?-(Zdy)?

4.
NZdx'dy'- Zdx' x Zdy'
Step Deviation Method
NZdx2 (Zdx)2 x /NZdy2-(Zdy'?
 *****************************************
************************ ************************

***
*
**************
********************* ** atsssesr**********

Spearman's Rank Correlation Coefficient

When Ranks are not 1 62D2

Equal
N3-N
6 zD (m-m)(m3-m)+
When Ranks are
6 72
Equal 12
k 1- N3-N
 FORMULAE AT A GLANCE
1. UNWEIGHTED INDEX NUMBERS

1.1 Simple Aggregative Method Po1 2P1 100

EPo

1.2 Simple Average of Price Relatives Po

PLx100
Po1 N

2. WEIGHTED INDEX NUMBERS

2.1 Weighted Aggregative Method

Laspeyre's Method Po1 2P9

Po poo 100
 Paasche's Method Po Ep41x 100
EPo91

Fisher's Method Ep,02P141

Po1 1podo 2Po41 x 100

ZRW
2.2 Weighted Average of Price Relatives Method Po1 W
2W