## Fishers Ideal Index Number: Calculation, Features and Limitation

Fishers Ideal Index Number is one the important price index number. Prof Irving Fisher developed this index number after an extensive study of 134 different formulae. It is a type of weighted index number. Calculation Process: Calculation process of fishers formula is as follows For calculation, 9 columns are drawn. First columns for commodities, second for price in base year Read More …

## STANDARD DEVIATION: DEFINITION, PROPERTIES, MERITS AND DEMERITS

What is the use of standard deviation? Standard Deviation is the most scientific and most popular measure of dispersion. Who used standard deviation for the first time? It was first used by Francis Galton and his student Karl Pearson in 1893. Definition of Standard Deviation “Standard deviation is the square root of the arithmetic mean of the squares of deviations Read More …

## MAJOR DEFINITION OF STATISTICS

Gottfried Achenwall is considered as the father of statistics. The term statistics is named differently in a different language each of which means Political State. The term statistics implied both data and statistical methods. German      =Statistik French       =Statistique Italian        =Statista Latin          =Status Statistics can be defined in two forms  Singular Form: Science of statistic, Plural form: Statistical data Major Definitions According Read More …

## Types of Calculators

Several types of calculating machines 9’re available in the market. Let us discuss about some of them. Key-driven Calculator: It has a full-bank keyboard. When keys are pressed, the numbers are shown on the dial. Multiplications are made by repeated additions and similarly, divisions are made by repeated subtractions. For instance, to multiply 3 by 3 is pressed three times. Read More …