## NCERT Solutions for Class 11 Statistics Chapter 1 - Introduction

## FAQs on NCERT Solutions for Class 11 Statistics Chapter 1 - Introduction To Statics

1. What are your reasons for studying Economics?

Studying economics has many benefits for a student as well as for the nation. Economics helps us to understand the current scenario and can estimate the future. Economics is simply the planning of utilizing monetary resources. Simply, we can say that it is a budget. It may be either about pocket money or a family's monthly expenditures, quarterly city growth, or even countries' annual budget also.

2. You have unlimited wants and limited resources to satisfy them. Explain by giving two examples.

Every task will be considered as an example for this case which is unlimited wants and limited resources because scarcity is the root of economics. All the time, we have only limited resources, but our desires and wishes will be unlimited. They keep on growing one after another. A simple illustration is, if we have 10 rupees in our pocket, we can get either a bread packet or a coke bottle. But we want both bread and Coke along with some chocolates or noodles etc. Another example is if your person has four buffaloes which give 40 L milk. He may get around 30, 000/- as a profit but his expenditures may meet 60000/- or 80,000/-.

3. Define consumption, production and distribution.

The study of consumption deals with the study of what the consumer decides considering his/her income and the alternative goods that are present to choose from.

The study of production deals with the sellers and what they plan to sell in the market for the consumers and how to produce these.

The study of distribution deals with how the national and total income collected from what is produced in the country is then distributed in the form of wages, profits and interests.

4. What is Statistics?

Statistics has its main domain in dealing with the collection, analysis, interpretation and presentation of numerical data. This subject deals with the data collected in the field of economics, though statistics also finds its place in mathematics, physics, psychology etc.Most of the data related to economics are quantitative, but it also uses qualitative data. After the collection of data, statistics deal with the presentation of this data in the form of tabular, diagrammatic, and graphic forms. They are then calculated and summarized using the methods of mean, variance, standard deviation etc.

5. What is the role of Statistics?

Statistics is the most important tool that economists utilize to get an idea of the economic problem. With the various methods used to find the statistics, they try to figure out the causes with the help of qualitative and quantitative facts pertaining to economics. After the identification of the root problem, it becomes easier to tackle and find a solution for it. Statistics also help the economist to present the economic facts in a much more precise and definite manner. In addition to this, it also plays an important role in the concentration of the mass data into a few numerical measures.

6. Are NCERT solutions available for Class 11 Statistics Chapter 1?

Yes, the NCERT Solutions are easily available for the Class 11 Statistics Chapter 1. They can easily download these songs from the website of Vedantu for free. These solutions are designed by experts to help the students to face the question paper with confidence. The various exercises that these solutions present are very important for the students to practice in order to do well in the examination. With adequate practice and hard work, the students will be able to attain more than 90 in the exams.

7. How to prepare for Class 11 Statistics Chapter 1?

Firstly, it is important that the student devises a routine for themselves. Once this is done, they need to read the chapter thoroughly while also marking all the important areas and highlighting all the important topics. Apart from this, it is advisable that the students make their own notes so that they are able to retain what they study. Along with this, it is very important for them to refer to the NCERT solutions for a much deeper insight into the chapter.