Often, students ask the question: Do all methods of Gross Domestic Product (GDP) calculation provide the same value? The answer to the question is: Theoretically, Yes and actually, No . The reason for the difference between the values of different methods of GDP is the statistical discrepancy. Statistical Discrepancy is the difference in national income accounting because the same economic activity is estimated using different data sources or methods . It reflects measurem

Cumulative frequency is a statistical concept used to determine the total number of observations that fall below or at a given value in a...

A Grouped Frequency Distribution  organises large datasets into classes (intervals) with their corresponding frequencies, making it...

1. Introduction The root of a function  refers to the value(s) of the independent variable (usually x) for which the function’s output is...

Functions are one of the fundamental concepts in mathematics, playing a crucial role in various fields like economics, business, and...

Econometric modelling bridges economic theories with real-world data to estimate relationships and predict outcomes. Below are the key...

In data analysis and statistics, understanding how data is measured is essential for selecting appropriate methods of analysis. Data can...

In statistics and data analysis, variables are characteristics or properties that can take different values. They are mainly classified...

Data analysis plays a crucial role in sectors like finance, healthcare, and social sciences. Understanding the different types of data is...