# Quantitative Methods for Economic Analysis 1 Solved MCQs

1.

A. 2.80
B. 3.00
C. 2.81
D. 2.8
2.

## You are conducting a survey of the people of India to find out how popular football is among the Indians. You randomly choose people to call, and make 1,000 phone calls to people scattered across the country. In this study, what of the following statement is true

A. both the people of india and the people you called is the population
B. the people of india is called the population, and the people you called are the sample.
C. the people of india is the sample, and the people you called is the population.
D. both the people of india and the people you called are samples.
Answer» B. the people of india is called the population, and the people you called are the sample.
3.

## A _____ refers to the group in your study whereas a ______ refers to a distinct group of people

A. population; sample
B. sample; population
C. sample; cohort
D. participant; population
4.

## Under what circumstances should we be cautious about using the mean as a measure of central tendency?

A. when the data is skewed.
B. when data is positively skewed
C. when data is negatively skewed
D. all of the above
Answer» D. all of the above
5.

## If b = 0 the line of best fit will conventionally be drawn ______

A. as horizontal
B. as vertical
C. as provides the best fit to the scores
D. through the middle of the data points
6.

## Linear regression can achieve which of the following

A. allow us to predict someone’s statistical grade from their mathematical ability
B. allow us to identify how much variable y will change if variable x changes
C. allow us to predict that as the weather gets 30% colder, then the sales of sweaters will increase by 50%.
D. all of the above
Answer» A. allow us to predict someone’s statistical grade from their mathematical ability
7.

## Linear regression means that every time the value of x increases, y changes by a ______amount.

A. increasing
B. decreasing
C. constant
D. all of the above
8.

## In regression, the variable being predicted is called the

A. criterion or y variable
B. predictor variable or x
C. x
D. explanatory variable
Answer» A. criterion or y variable
9.

## Which of the following is incorrect

A. in linear regression a real line is drawn through the data points where total error is minimized.
B. in linear regression the line tells us by how much y is predicted to change as a result of a change in x.
C. in linear regression the line fits the data in the best place possible.
D. in linear regression the line of best fit maximises the distance between the scores and the regression line.
Answer» D. in linear regression the line of best fit maximises the distance between the scores and the regression line.
10.

A. weak
B. moderate
C. strong
D. zero
11.

A. regression
B. elasticity
C. correlation
D. mean
12.

## In correlation, for a positive relationship ____ scores on one variable tend to be associated with ____ scores on the other variable

A. high; low
B. low; high
C. high; high
D. none of the above
13.

## To construct a ________we take each person’s score on x and y and plot where they meet. Each data point represents two scores.

A. scatter diagram
B. histogram
C. pie diagram
D. ogive
14.

## When two variables are correlated we can say

A. that they have a perfect positive relationship
B. that they share variance
C. high scores are frequent on x and y
D. that they are independent
Answer» B. that they share variance
15.

## Which of the following could be value of correlation coefficient

A. 0.30
B. +1.00
C. −0.27
D. all of the above
Answer» D. all of the above
16.

## In correlation, which of the following tells us that we have a perfect positive relationship

A. r = +1
B. all the points on the scatter diagram would fall on a straight line and the slope would be from bottom left to top right of the plot
C. the dots on the scatter diagram would fall in a straight line from top left-hand corner down to bottom right hand corner
D. both a and b
Answer» D. both a and b
17.

A. 16%
B. 67%
C. 25%
D. 20%
18.

## A teacher surveys the students attending a seminar and finds that 20% are I BA students and 45% are II BA students. This is an example of

A. descriptive statistics
B. inferential statistics
C. secondary data
D. nominal data
19.

## Which of the following does not represent one method to obtain primary source data

A. making observations
B. sending a survey to customers
C. looking in journals
D. conducting an experiment
20.

## The grades that a random sample of BA students received over the last five years in Quantitative Techniques examinations represent what statistical concept

A. the grades are a parameter
B. the grades are a statistic
C. the grades are a sample
D. the grades are a population
21.

## What method is used to sample a population so that it is representative of the population

A. samples are chosen at random from the population
B. every other element in a population is chosen
C. all but the observations that have the lowest and highest values are selected
D. only the first half of a population is selected
Answer» A. samples are chosen at random from the population
22.

## An insurance agent earns a commission on each policy sold. This person made Rs.3,000 in commissions during one month and concludes that annual compensation will be Rs. 36,000. This is an example of:

A. descriptive statistics
B. inferential statistics
C. secondary data
D. nominal data
23.

A. ordinal
B. ratio
C. nominal
D. interval
24.

## A company publishes data on its quarterly earnings for its stockholders to evaluate. Which of the following is true

A. the source is primary for both the company and the stockholders
B. the source is secondary for both the company and the stockholders
C. the source is primary for the company and secondary for the stockholders
D. the source is secondary for the company and primary for the stockholders
Answer» C. the source is primary for the company and secondary for the stockholders
25.

## If you have a digital weighing machine in your college that only reads in integers, is your weight a discrete variable

A. yes, because the scale reports integers
B. no, because weight is still a continuous variable regardless of the ability to measure it
C. it depends on the accuracy of the scale
D. it depends on your weight
Answer» B. no, because weight is still a continuous variable regardless of the ability to measure it
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