Page 309 - DECO504_STATISTICAL_METHODS_IN_ECONOMICS_ENGLISH

Statistical Methods in Economics

Notes 23.4 Key-Words

1. Measures of location : Another term for measures of central tendency.
2. Median (Med) : The score corresponding to the point having 50% of the observations
below it when observations are arranged in numerical order.
3. Median location : The location of the median in an ordered series.
23.5 Review Questions

1. Explain briefly the graphic method for determining the trend.
2. What are the merits and demerits of graphic method ?
3. Describe the Semi-average method. How the method of Semi-averages help analysing a Time
Series.
4. What are the limitations of graphic method ?
5. Explain the Semi-average method of determing trend.
Answers: Self-Assessment
1. (i) non-linear (ii) histogram (iii) eliminated
(iv) halves (v) mean
23.6 Further Readings

1. Elementary Statistical Methods; SP. Gupta, Sultan Chand & Sons,
New Delhi - 110002.
2. Statistical Methods — An Introductory Text; Jyoti Prasad Medhi, New Age
International Publishers, New Delhi - 110002.
3. Statistics; E. Narayanan Nadar, PHI Learning Private Limied, New Delhi - 110012.
4. Quantitative Methods—Theory and Applications; J.K. Sharma, Macmillan
Publishers India Ltd., New Delhi - 110002.

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