IEO Level 2- English Olympiad (SOF) Class 9 Coaching Programs

⏳ 🎯 Online Tests (2 Tests [50 Questions Each]): NTA Pattern, Analytics & Explanations

Click Here to View & Get Complete Material

Rs. 200.00

3 Year Validity (Multiple Devices)

🎓 Study Material (303 Notes): 2024-2025 Syllabus

Click Here to View & Get Complete Material

Rs. 450.00

3 Year Validity (Multiple Devices)

🎯 250 MCQs (& PYQs) with Full Explanations (2024-2025 Exam)

Click Here to View & Get Complete Material

Rs. 200.00

3 Year Validity (Multiple Devices)

Statistical Methods: Ratio, Rates, Percentage and Mean

Systematic presentation we reduce the meaningless mass of statistical data through the tables, charts etc.

  • Sometimes we need to compare one table with another table and one frequency distribution with another frequency distribution.
  • At that time, we require tools or methods to make such comparisons.
  • One set of statistical tools found in ratio, rates and percentages.
  • Another set of statistical tools is found in the averages or measures of central tendency.

Ratio

  • Comparing two numerical values by division is the ratio method of comparison.
  • Ratio is the relationship between two quantities which called terms.
  • It is necessary to determine (a) What is compared (First term) and with which it is to be compared (Second term) .
  • Calculated by dividing the first term by the second term.
  • Expressed in words, symbol and fraction.
  • Ratio will be reverse when first and second terms are interchanged.

Ratio

For example:

Forms of Expression of Ratio

  • In words: The ratio of ₹ 6 to ₹ 2
  • In symbol: ₹ 6: ₹ 2
  • In fraction:

Examples of Certain Ratios Used in Economics

Table Shows the Examples of Certain Ratios Used in Economics
Ratio of national income to population Input-output Ratio
Ratio of population to land areas
Ratio of consumption to Income

Rates

  • In economic rates like rate of economic growth, rate of growth of population, birth rate, death rate, agricultural rate is calculated.
  • For example: Rate of yield per hectare of a crop.
  • Rate of yield (in kg.) per hectare of crop

Rates vs. Ratio

  • Rate and ratio calculation method are generally same.
  • Rate is the ratio between two magnitudes shown over a period of time.
  • Rate can be expressed besides per unit, per 100,1000, lakh etc. and even higher.

Need for Arbitrary Base in Rate

  • Value of ratio per unit sometimes is so small.
  • Small base fails to convey importance of the rate or ratio.
  • Need to raise the base.
  • Arbitrary higher base for calculation of rate is chosen when:
    • Value of ratio is very small
    • Need to avoid fractions in comparisons

Percentage

  • Percentage is type of rate or ratio with base 100.
  • Every ratio per unit when multiply by 100 is converted into percentage.

Percentage

Mean

Measures of Central Tendency

  • Clustering of items values in the central part of the distribution is known as central tendency.
  • Measure of central tendency means a value where the concentration of the items or values is found to be greatest.
  • Average also called measures of central tendency.
  • It is a value which is typical or representative of a set of data.
  • Average can be obtained by using 5 different measures of central tendency:
Illustration: Measures of Central Tendency
  • Average will help to compare its various sections according to their performance.