Download CBSE Class 11 Economics Full Study Material Set A in PDF format. All Revision notes for Class 11 Economics have been designed as per the latest syllabus and updated chapters given in your textbook for Economics in Class 11. Our teachers have designed these concept notes for the benefit of Class 11 students. You should use these chapter wise notes for revision on daily basis. These study notes can also be used for learning each chapter and its important and difficult topics or revision just before your exams to help you get better scores in upcoming examinations, You can also use Printable notes for Class 11 Economics for faster revision of difficult topics and get higher rank. After reading these notes also refer to MCQ questions for Class 11 Economics given on studiestoday
Revision Notes for Class 11 Economics All topics
Class 11 Economics students should refer to the following concepts and notes for All topics in Class 11. These exam notes for Class 11 Economics will be very useful for upcoming class tests and examinations and help you to score good marks
All topics Notes Class 11 Economics
UNIT – 3
STATISTICAL TOOLS AND INTERPRETATION :-
1. Measures of central Tendency.
2. Measures of Dispersion
3. Co-relation and Measures of correlation
4. Introduction to Index Numbers.
Measures of Central Tendency
(Important Terms & Concepts) :-
1. Average or measures of central Tendency :- It is a value which is a typical or representative of a set of data. Averages are also called measures of central tendency, since they tend to lie centrally, with in a set of data arranged according to magnitude.
2. Functions of Average :- Average helps to get a representative value to the entire set of data.
a). It Facilitates Comparison.
b). It is a useful tool in decision- making.
3. Essentials of a Good Average / good measures of Central Tendency : -
a). Simplicity in calculation
b). Easy to understand
c). Rigidly Defined
d). Precise Value
e). Based upon all observations
f). Unaffected by extreme values.
g). Capable for further statistical calculations.
4. Types of Averages / measures of central Tendency :- There are three averages, which are in common use- Arithmetic Mean, Median and Mode.
8. Merits of Arithmetic Mean:-
(i) It is easy to calculate and simple to understand.
(ii) It is rigidly defined.
(iii) It is a calculated value not a positional value.
(iv) It is based on all observations.
12. Merits of median :-
• It is easy to understand and easy to compute.
• It is not unduly affected by extreme observations
• Median can be located graphically with the help of ogives.
• It is the most appropriate average in case of open-ended classes.
• It is the most suitable average for qualitative measurement such as intelligence, beauty etc.
• It is a positional value and not a calculated value.
The second quartile is known as median and is denoted by Q2. It has 50% of the item above it. The third Quartile is known as Q3 and it is also called upper Quartile and 75% of the items are below it and 25% of the items are above it. Thus , Q1 and Q3 denote the two items with which central 50% of item lie.
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CBSE Class 11 Economics All topics Notes
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Notes for Economics CBSE Class 11 All topics
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All topics Notes for Economics CBSE Class 11
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All topics CBSE Class 11 Economics Notes
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Notes for CBSE Economics Class 11 All topics
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