Statistics for Economics

What is the primary purpose of statistics in economics?

Which of the following is a measure of central tendency?

If the mean of a data set is 50 and the sum of all observations is 500, what is the number of observations?

Which of the following formulas correctly represents the arithmetic mean for grouped data?

What is the median of the data set: 12, 15, 18, 22, 27?

In a frequency distribution, the class interval with the highest frequency is called:

Which measure of dispersion is defined as the square root of the average of the squared deviations from the mean?

If the coefficient of variation (CV) of two data sets A and B are 20% and 15% respectively, which data set is more consistent?

Given the following data: Class intervals: 0-10, 10-20, 20-30, 30-40; Frequencies: 5, 8, 15, 12. What is the modal class?

Which of the following is NOT a measure of dispersion?