a.
Importance and Limitations of Statistics
Importance:
1. Data Simplification: Organizes large volumes of data using tables, graphs, etc.
2. Decision Making: Aids in various sectors like business, healthcare, etc.
3. Forecasting: Predicts future outcomes using past trends.
4. Scientific Research: Helps in designing experiments and validating hypotheses.
5. Quality Control: Used in manufacturing to ensure product quality.
Limitations:
1. Cannot Handle Qualitative Aspects Well.
2. Risk of Misuse: Incorrect methods can lead to wrong conclusions.
3. Requires Expertise: Needs proper knowledge for interpretation.
4. Dependent on Data Accuracy.
b. Descriptive Statistics and Inferential Statistics
Descriptive Statistics:
- Summarizes data using averages, graphs, etc.
- Example: Average marks of students in a class.
Inferential Statistics:
- Makes predictions about a population from a sample.
- Example: Predicting election results from a sample survey.
Comparison:
Descriptive -> Complete data, summary tools.
Inferential -> Sample data, prediction tools.
c. Types of Correlation with Examples
Positive Correlation:
- Both variables increase together. (e.g., Study time & scores)
Negative Correlation:
- One increases, the other decreases. (e.g., Exercise & body fat)
Zero Correlation:
- No relationship. (e.g., Shoe size & intelligence)
Measured by:
- Pearsons r, Spearmans Rank.
d. Use of Bar Diagram and Pie Diagram
Bar Diagram:
- Represents categories with bars.
- Used to compare groups (e.g., Sales by region).
Pie Diagram:
- Circular chart showing parts of a whole.
- Used for proportions (e.g., Market share).
Comparison:
Bar -> Many categories, comparison focus.
Pie -> Few categories, percentage focus.
