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Unit 1: Statistics

1.7 Review Questions Notes

1. Define the term statistics.
2. Distinguish between statistical methods and statistics.

3. Discuss the scope and significance of the study of statistics.
4. “Statistics are numerical statements of facts, but all facts stated numerically are not
statistics”. Clarify this statement and point out briefly which numerical statements of facts
are statistics.
5. Discuss briefly the utility of statistics in economic analysis and business.
6. “Statistics are the straws out of which one like other economists have to make bricks”.
Discuss.
7. “Science without statistics bear no fruit, statistics without science have no roots”. Explain
the above statement.

8. “It is usually said that statistics is science and art both”. Do you agree with this statement?
Discuss the scope of statistics.
9. “Statistics is not a science, it is a scientific method”. Discuss it critically and explain the
scope of statistics.
10. Explain clearly the three meanings of the word ‘Statistics’ contained in the following
statement:
“You compute statistics from statistics by statistics”.
11. “Economics and statistics are twin sisters”. Discuss.
12. Discuss the nature and scope of statistics. What are the fields of investigation and research
where statistical methods and techniques can be usefully employed?
13. “A knowledge of statistics is like the knowledge of foreign language or of algebra. It may
prove of use at any time under any circumstances”. Discuss the above statement.
14. “The science of statistics is a most useful servant but only of great value to those who
understand its proper use.”
15. Examine the above statement and discuss the limitations of statistics.
16. Explain the importance of statistics in economic analysis and planning.
17. “He who accepts statistics indiscriminately will often be duped unnecessarily. But he who
distrusts statistics indiscriminately will often be ignorant unnecessarily. In fact, reliable
statistics are the lamps that light our path on the road of knowledge.” Comment.

18. “Statistical methods are most dangerous tools in the hands of the inexperts. Statistics is
one of those sciences whose adept must exercise the self-restraint of an artist.” Explain.
19. “Planning without statistics is a ship without rudder and compass.” In the light of this
statement, explain the importance of statistics as effective aid to National Planning in
India.
20. Explain by giving reasons whether the following are data or not:

(a) Arun is more intelligent than Avinash.
(b) Arun got 75% marks in B.Sc. and Avinash got 70% marks in B.Com.

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