Deciles
i) Individual Series:
……….
Where,
n is the total number of observations, D1 is First Decile, D2 is Second Decile,……….D9 is Ninth Decile.
ii) Discrete Series:
……….
Where,
n is the total number of observations (∑f), D1 is First Decile, D2 is Second Decile,……….D9 is Ninth Decile.
iii) Continuous Series:
……….
Where,
n is the total number of observations (∑f), D1 is First Decile, D2 is Second Decile,……….D9 is Ninth Decile.
Important Formulas in Statistics for Economics | Class 11
Statistics for Economics is a field that helps in the study, collection, analysis, interpretation, and organization of data for different ultimate objectives. Statistics help a user in gathering and analyzing huge numerical data easily and efficiently. For this, it provides various statistical tools and formulas that can be used to collect, interpret, and analyse the given set of data. Following are some of the important formulas (chapter-wise) used in Class 11th Statistics for Economics.
Table of Content
- 1. Width of Class Interval
- 2. Mid-Point or Mid-Value
- 3. Conversion of percentage into degrees in Pie Diagram
- 4. Adjustment Factor for any Class (Histogram)
- 5. Arithmetic Mean
- 6. Charlier’s Accuracy Check
- 7. Formula to calculate Missing Value in Individual, Discrete, and Continuous Series
- 8. Combined Mean
- 9. Corrected Mean
- 10. Weighted Arithmetic Mean
- 11. Median
- 12. Quartiles
- 13. Deciles
- 14. Percentiles
- 15. Mode
- 16. Relationship between Mean, Median, and Mode
- 17. Range
- 18. Coefficient of Range
- 19. Quartile Deviation
- 20. Coefficient of Quartile Deviation
- 21. Mean Deviation
- 22. Coefficient of Mean Deviation
- 23. Standard Deviation
- 24. Coefficient of Standard Deviation
- 25. Combined Standard Deviation
- 26. Variance
- 27. Coefficient of Variation
- 28. Degree of Correlation
- 29. Karl Pearson’s Coefficient of Correlation
- 30. Karl Pearson’s Coefficient of Correlation and Covariance
- 31. Spearman’s Rank Correlation Coefficient
- 32. Unweighted or Simple Index Numbers
- 33. Weighted Index Numbers
- 34. Methods of Constructing Consumer Price Index
- 35. Purchasing Power
- 36. Real Wages