Question

Q1): Which Statistical Method or Tool you will use to find out the following answers: A person who sells ice creams might want to know which flavour is the most popular. A teacher may want to know the average marks of a test in his class. Which of the following provides a measure of central location for data? A value on a continuum thickness of an item. In a week the prices of a bag of rice were 350, 280, 340, 290, 310, and 300. How much inflation has increased at the end of week? A company has no plan, their sales and marketing is not proper and it is not running its business as efficiently as it was required.​

Answer 1

The statistical methods will be:

1. If the person sells more than 2 ice cream flavors, then to identify which one sells the most he should conduct ANOVA and Tukey Kramer on the different sets of means to identify which is the best.

2. The teacher should take a sample of marks with a good sample size and find out the sample mean.

3. Measures of central location are mean, median and mode.

The option that provides a measure of central location for data is A value on continuum thickness would provide a measure of central location.

What are Statistical methods?

Statistical methods are mathematical formulas, models, and techniques used in raw research data statistical analysis. Statistical methods are used to extract information from research data and provide various ways to assess the robustness of research outputs.

There are four types of statistical methods: descriptive methods, parametric inferential methods, nonparametric inferential methods, and predictive methods.

It should be noted that measures of central location are mean, median and mode. Median is the middle number, mean is the average and mode is the number that appears most.

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