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Economics · Class 12 Commerce

Ch 10Economic Statistics — Class 12 Economics, concept-first.

Every Andhra Pradesh Intermediate second-year Commerce student meets, in this final Economics chapter, the analytical tools that economists actually use to summarise, compare and interpret economic data, moving beyond the earlier, purely descriptive treatment of averages and national income.

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Key concepts

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Measures Of Dispersion

Imagine two friends, both scoring an average of 70 marks across five tests. One friend scores 68, 71, 69, 70, 72 — steady and predictable. The other scores 40, 95, 55, 80, 80 — wildly up and down.

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CA Foundation

1 concept · 3 appearances

2025, 2022

Chapter contents

The NCERT structure, section by section. Open a section to see its questions, then read the concept-first solution.

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Meaning and Scope of Economic Statistics

Every Andhra Pradesh Intermediate second-year Commerce student meets, in this final Economics chapter, the analytical tools that economists actually use to summarise, compare and interpret economic da…

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Measures of Dispersion

A measure of dispersion shows the extent to which individual values in a series are scattered or spread out around a measure of central tendency.

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Correlation

Where a measure of dispersion describes a single variable, correlation studies the relationship between two variables — whether, and how strongly, they move together.

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Index Numbers

An index number is a specialised statistical figure that measures the average percentage change in a group of related variables — prices, quantities, or values — over time, relative to a chosen base p…

Exercises

+Show 3 questions3 questions
  1. Q11Distinguish between absolute measures and relative measures of dispersion, giving examples of each.Free
  2. Q12Explain the important uses of index numbers in economic analysis.Preview
  3. Q13State the essential properties (requisites) of a good measure of dispersion.Preview

Sample & Board Papers

Sample papers and previous-year board questions for this subject.

+Show 12 questions12 questions
  1. Q1What is correlation? State its importance.Preview
  2. Q2Write a short note on: RangePreview
  3. Q3Write a short note on: Index numbersPreview
  4. Q4What is correlation? State its Importance.Preview
  5. Q5Write a short note on: Rank correlation.Preview
  6. Q6Write a short note on: Index numbers.Preview
  7. Q7Define Lorenz Curve. When is it used?Preview
  8. Q8Write a short note on: RangePreview
  9. Q9Write a short note on: Index numbers.Preview
  10. Q10Calculate the standard deviation of the following values: 5, 10, 25, 30, 50.Preview
  11. Q11Write a short note on: RangePreview
  12. Q12Write a short note on: CorrelationPreview

More questions

+Show 10 questions10 questions
  1. Example 1The daily wages (₹) of 8 workers in a small Andhra Pradesh manufacturing unit are: 150, 180, 200, 220, 160, 190, 210, 170. Calculate the Ran…Free
  2. Example 2The marks (out of 40) obtained by 9 students of a college in an Economics test, arranged in ascending order, are: 12, 15, 18, 21, 24, 27, 30…Free
  3. Example 3The profits (₹ lakh) earned by 5 companies in a business group are: 10, 12, 14, 16, 18. Calculate the Mean Deviation from the mean and its C…Free
  4. Example 4The output (in tonnes) of a small factory over 5 consecutive days is: 2, 4, 6, 8, 10. Calculate the Standard Deviation by the direct (actual…Preview
  5. Example 5In a college, the marks obtained by students in Economics have a mean of 50 and a Standard Deviation of 5, while their marks in Accountancy…Preview
  6. Example 6A firm's advertisement expenditure (X, ₹ lakh) and its sales (Y, ₹ lakh) over 5 years are: X: 1, 2, 3, 4, 5 and Y: 2, 4, 5, 4, 5. Calculate…Preview
  7. Example 7Two judges, A and B, ranked 5 contestants (P, Q, R, S, T) in a debate competition as follows — Judge A: 1, 2, 3, 4, 5; Judge B: 2, 1, 4, 3,…Preview
  8. Example 8The prices (₹ per kg) of four commodities A, B, C and D consumed by a household in the base year (2015) and the current year (2020) are give…Preview
  9. Example 9For three commodities A, B and C, the base-year price and quantity, and the current-year price, are given below. Calculate the Price Index N…Preview
  10. Example 10The sales (₹ lakh) of a company over 5 years are: 10, 20, 30, 40, 60. Using an assumed mean of 30, calculate the Standard Deviation by the s…Preview