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Identify the correct statements regarding Statistics.

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Important Questions on Introduction to Statistical Economics

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Mark the following statements as true or false: (i) Statistics can only deal with quantitative data.
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Which of the following would give qualitative data; beauty, intelligence, income earned, marks in a subject, ability to sing, learning skills? 
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Statistical methods are no substitute for common sense. Comment with examples from your daily life.
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Which of the following is the most important when you buy a new dress?
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Mark the following statements as true or false: (iii) Statistics is of no use to Economics without data.
EASY
Think of two examples of qualitative and quantitative data.
HARD
Identify the correct sentence from the following options:
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Mark the following statements as true or false: (ii) Statistics solves economic problems.
HARD
'The Government and policy makers use statistical data to formulate suitable policies of economic development'. Illustrate with two examples.
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‘The Government and policy makers use statistical data to formulate suitable policies of economic development’. Illustrate with two examples.
HARD
Statistical methods are no substitute for common sense. Comment with examples from your daily life.