1.

State with reasons whether you agree or disagree with the following statement:Partition values have application only in theory but not in practice.ORPartition values are not useful in economics.

Answer»

No, I do not agree with the statement.

  • Partition values like quartiles are useful to economists to know the final information related to income, sales, stock data, etc. 
  • Also, deciles and percentiles help economists to measure in the detail the poverty line, inequality of income, household, wealth, etc
  • Hence, partition values are useful in Economics.


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