Statistics is the study of data gathering, organization, analysis, interpretation, and presentation. The importance of statistics in the field of economics is well established, as statistics are used in the collection, compilation, processing, dissemination, and analysis of economic data.
You may have heard that economic experts point out the positive and negative aspects of any government program or economic move. All of these decisions are based on reliable statistical proof, which may be found in the form of statistical data acquired from numerous sources.
The word statistics comes from the Latin word 'status,' which means 'state of affairs.' With the passage of time, the meaning changed dramatically, and it became an integral element of all the data gathered. In today's world, statistics are used in a plethora of quantitative and qualitative investigations.
It is expressed numerically.
It is reasonably accurate.
It represents the systematic collection of data.
The data obtained from different sources can be compared with each other.
The statistical data or analysis can be affected by a large number of factors.
Statistics are essential for comprehending economic statistics such as the link between quantity and price, supply and demand, economic production, GDP, and per capita income of nations, among other things.
Statistics for Economics is a section of the CBSE economics syllabus for Class 11 that focuses with the systematic collection, organisation, and presentation of quantitative and qualitative data relevant to many elementary economic elements.
It also equips students with the knowledge of suitable statistical techniques, allowing them to analyse and understand economic data and make useful conclusions from it.
There are 15 chapters in the CBSE Class 11 syllabus for Statistics.
You can get the free PDF for CBSE Syllabus Class 11 Statistics on the website of Orchids International School.
To prepare for the Class 11 Statistics exam effectively, learn the key concepts given in the syllabus. Additionally, practice each question given in the textbook and revise the topics thoroughly.
Some of the good resources for studying Class 11 Statistics are NCERT textbooks, worksheets, and practice materials from some reputed schools like the Orchids International School.
The concepts covered in the CBSE Class 11 syllabus are very basic which helps students to understand the fundamentals and lay a solid foundation for higher classes.