60+ Fundamentals of Business Statistics Solved MCQs

1.

The necessary diagram to compare among the various components or between a part and the whole is:

A. Bar diagram
B. Step diagram
C. Pie diagram
D. Histogram
Answer» C. Pie diagram
2.

A random variable X can take the values -1, 0 and 1 with respective probabilities 0.2, 0.5 and 0.3. The expected value of X is:

A. 0.3
B. 0.5
C. 0.2
D. 0.1
Answer» D. 0.1
3.

Consider the following data: Marks in 0 – 9 10 – 19 20 – 29 30 – 39 40 – 49 Total Mathematics No. of students (f) 10 8 12 15 5 50 Frequency density of the second class is

A. 0.8
B. 8
C. 1.2
D. 1
Answer» A. 0.8
4.

The measure of central tendency of a statistical data which takes into account all the data

A. Median
B. Mean
C. Mode
D. Range
Answer» B. Mean
5.

The A.M. of the numbers 1, 3, 5, ……. (2n – 1) is

A. n2
B. n + 1
C. n
D. 2n
Answer» C. n
6.

The Harmonic Mean (H.M.) of the series 1, 2, 4 is

A. 5
B. 7
C. 7/5
D. 12/7
Answer» D. 12/7
7.

For a symmetrical distribution first quartile and median are respectively 20 and 24. The third quartile of the distribution is

A. 28
B. 26
C. 22
D. 32
Answer» A. 28
8.

Standard Deviation (S.D) for two observations 1 and 4 is

A. 1
B. 1.5
C. 2
D. 3
Answer» B. 1.5
9.

If the two regression coefficients are byx = - 0.4 and bxy = - 0.9 then the value of correlation coefficient (r) is

A. 0.6
B. 0.65
C. - 0.6
D. - 0.65
Answer» C. - 0.6
10.

For a frequency distribution coefficient of skewness = 0.6; mean = 172 and mode = 163. The value of the variance is

A. 169
B. 215
C. 196
D. 225
Answer» D. 225
11.

For two mutually exclusive events A and B if P(A) = 3/4 and P(B) = 1/6, then P(A or B) is

A. 11/12
B. 5/12
C. 7/8
D. 1/8
Answer» A. 11/12
12.

Two unbiased coins are tossed simultaneously. The problem of getting a head and a tail is

A. 1/4
B. 1/2
C. 1
D. ¾
Answer» B. 1/2
13.

The vertical axis of an ogive shows

A. Cumulative frequencies
B. Absolute frequencies
C. Frequency densities
D. Class boundaries
Answer» A. Cumulative frequencies
14.

The basis of classification according to differences in time is called

A. Ordinal classification
B. Temporal classification
C. Spatial classification
D. Qualitative classification
Answer» A. Ordinal classification
15.

The frequencies of three class intervals 54 – 58, 59 – 63, 64 – 68 of a distribution are respectively 4, 8 and 12. The frequency density of the 2nd class is

A. 1
B. 1.2
C. 1.6
D. 2
Answer» D. 2
16.

The variance of two observations 10 and 17 is

A. 12.25
B. 12
C. 1.225
D. 13
Answer» A. 12.25
17.

If a variable x takes the values 12 and 24 with equal frequencies, then mean of x is

A. 36
B. 18
C. 22
D. 28
Answer» B. 18
18.

The quartile deviation of the following data 12, 10, 17, 14, 19, 21, 27, 30, 32, 38, 34 is

A. 11
B. 18
C. 9
D. 16
Answer» C. 9
19.

For a frequency distribution mean = 68.2; median = 69 and coefficient of skewness of the distribution is – 0.6. The variance of the distribution is

A. 9
B. 25
C. 36
D. 16
Answer» D. 16
20.

If two regression equations x + 5y = 13 and 3x – 2y = 5, then the mean values of x and y are respectively.

A. (2, 3)
B. (3, 2)
C. (4, 5)
D. (5, 4)
Answer» B. (3, 2)
21.

Two dice are thrown simultaneously, the probability of obtaining a total sum 8 is

A. 1/6
B. 5/6
C. 5/36
D. 7/36
Answer» B. 5/6
22.

If the A.M of 14, 16, x, 25, 21 be 19, then the value of x is

A. 16
B. 19
C. 12
D. 21
Answer» B. 19
23.

The G.M of 3 and 24 with weight 2 and 1 respectively is

A. 8
B. 4
C. 6
D. 9
Answer» C. 6
24.

The mean deviation about median of 28, 7, 16, 14, 24, 15, 34, 30 is

A. 8
B. 6
C. 10.5
D. 12
Answer» A. 8
25.

The A.M of first n natural numbers is 6. The value of n is

A. 12
B. 9
C. 11
D. 16
Answer» C. 11
26.

The 1st and 3rd quartiles of a frequency distribution are respectively 25 and 45. If the coefficient of skewness be – 0.1, then the median is

A. 36
B. 32
C. 24
D. 28
Answer» A. 36
27.

If A.M and the coefficient of variation of x are 6 and 50% respectively, then the variable of x is

A. 3
B. 6
C. 9
D. 11
Answer» C. 9
28.

Given : Q3 – Q1 = 8, Q3 + Q1 = 22, Median (Q2) = 10.5. The coefficient of skewness is

A. 1/8
B. 1/7
C. 1/5
D. 1
Answer» A. 1/8
29.

The correlation coefficient between two variables x and y is

A. sum of two regression coefficients.
B. Arithmetic Mean of two regression coefficients.
C. Harmonic Mean of two regression coefficients.
D. Geometric Mean of two regression coefficients.
Answer» D. Geometric Mean of two regression coefficients.
30.

For two mutually exclusive events A and B, P (A U B) is equal:

A. P(A) – P(B)
B. P(A) + P(B)
C. ½ [P(A) + P(B)]
D. P(A) x P(B)
Answer» B. P(A) + P(B)
31.

Out of total outlay 40,000 (crore) during an annual plan of a country, the central angle represented by education of amount Rs. x crore is 720. The value of x (in crore) is

A. 10,000
B. 9,000
C. 6,000
D. 8,000
Answer» D. 8,000
32.

Given a table: Value (greater than) 100 150 200 250 Frequency 50 32 9 0 The number of observations between 150 and 200 is

A. 23
B. 15
C. 8
D. 18
Answer» A. 23
33.

Given the table: Class Interval 10 – 15 15 – 20 20 – 25 25 – 30 30 – 35 Frequency 5 7 4 6 8 The class mark for the second class is

A. 27.5
B. 17.5
C. 12.5
D. 32.5
Answer» B. 17.5
34.

The Arithmetic Mean for the series 2, 6, 5, 7, 9, 4, 2 is

A. 7
B. 4
C. 5
D. 6
Answer» C. 5
35.

The Geometric Mean (GM) for the series 1, 3, 9 is

A. 3
B. 2
C. 1/3
D. ½
Answer» A. 3
36.

The Standard Deviation for two observations is

A. square of their difference.
B. half of their absolute difference
C. their absolute difference
D. twice of their absolute difference
Answer» B. half of their absolute difference
37.

The absolute deviations of the values of a variables from the mean are 10, 15, 19, 2, 14. The mean deviation is 15

A. 16
B. 14
C. 12
D. 9
Answer» C. 12
38.

A.M of 40 observations of a variable is 25 and S.D is 4. The sum of squares of all observations is

A. 25640
B. 26540
C. 24560
D. 26450
Answer» A. 25640
39.

If y + 2x = 10; 𝒙ഥ = 3 and Var (y) = 25, then C.V. of y is

A. 100%
B. 150%
C. 125%
D. 50%
Answer» C. 125%
40.

The coefficient of skewness of a distribution is 0.4. Its S.D and mean are respectively 8 and 30. The mode of the distribution is

A. 26
B. 26.2
C. 26.4
D. 26.8
Answer» D. 26.8
41.

If 𝝈𝒚 ൌ 𝟒, byx = 0.48, r = 0.6, then is 𝝈𝒙

A. 5
B. 7
C. 9
D. 6.5
Answer» A. 5
42.

If A and B be two mutually exclusive events and P(A) = 3/4; P (A U B) = 5/6 then P(B) is

A. 2/3
B. 3/5
C. 5/12
D. 1/12
Answer» D. 1/12
43.

The mode for the series 2, 5, 7, 6, 3, 7, 4, 7, 9, 2 is

A. 6
B. 2
C. 7
D. 9
Answer» C. 7
44.

The median of the numbers 94, 33, 86, 68, 32, 80, 48 and 70 is

A. 68
B. 69
C. 64
D. 70
Answer» B. 69
45.

The Geometric Mean (G.M) for the series 1, 2, 4 is

A. 2
B. 7/3
C. 3/7
D. 2.5
Answer» A. 2
46.

The Standard Deviation (S.D) for 2 and 8 is 16

A. 5
B. 4
C. 3
D. 6
Answer» C. 3
47.

The mean deviation of the observations 3, 5, 9, 1 and 2 about their median is

A. 2.4
B. 2.2
C. 3
D. 2.8
Answer» B. 2.2
48.

If the sum of squares of the deviations of 10 observations taken from mean 50 is 250, then C.V is

A. 10%
B. 12%
C. 20%
D. 15%
Answer» A. 10%
49.

If the relation between two variables x and y be 5x + 7y = 28 and median of y be 3, then the median of x is

A. 1.4
B. - 4.2
C. 3
D. 13/7
Answer» A. 1.4
50.

For a symmetric distribution, skewness is

A. 0
B. 1
C. -1
D. 0.5
Answer» A. 0
51.

If cov (x, y) = 0.6, 𝝈𝒙 ൌ 𝟐, 𝝈𝒚 ൌ 𝟏, then rxy is

A. 0.1
B. 0.3
C. 0.2
D. 0
Answer» A. 0.1
52.

The value of the correlation coefficient lies between

A. 0 and 1
B. - 1 and 1
C. -1 and 0
D. - 0.5 and 0.5
Answer» B. - 1 and 1
53.

For two mutually exclusive events A and B, if P(A) = 0.4 and P(B) = 0.3, then P (A or B) is

A. 0.6
B. 0.58
C. 0.7
D. 0.75
Answer» C. 0.7
54.

If the Harmonic Mean of 2, a, 8 be 24/7, the value of a is 17

A. 4
B. 6
C. 12
D. 9
Answer» A. 4
55.

The variance of first 5 natural numbers is

A. 3
B. 4
C. 8
D. 2
Answer» D. 2
56.

Two variables x and y are given by the relation y = 3x – 2. If the mode of x be 5, the mode of y will be

A. 13
B. 10
C. 15
D. 9
Answer» A. 13
57.

If for a symmetrical distribution 1st and 3rd quartiles are respectively 16 and 22, then the Median of the distribution is

A. 20
B. 18
C. 24
D. 19
Answer» D. 19
58.

If Mean = 50 cm and C.V. = 60%, then the S.D. is

A. 25 cm
B. 30 cm
C. 28 cm
D. 20 cm
Answer» B. 30 cm
59.

For a given frequency distribution C.V = 30%, variance = 36 and Pearson’s Coefficient of Skewness = - 0.25, the mode of the distribution is

A. 24
B. 20
C. 21.5
D. 24.5
Answer» C. 21.5
60.

The regression equation of y on x is 3x – 5y = - 12 and regression equation of x on y is 2x – y = 7. The value of y when x = 10 is

A. 8.4
B. 6.5
C. 7
D. 9
Answer» A. 8.4
61.

If y = 3x + 30 and mean of x is 20, then the mean of y is

A. 90
B. 80
C. 70
D. 100
Answer» A. 90
62.

If the events A and B are mutually exclusive then

A. P (A + B) = P (A) + P (B)
B. P (A + B) = P (A) – P (B)
C. P (A + B) = P (A) P (B)
D. P (A + B) = 0 18
Answer» A. P (A + B) = P (A) + P (B)
63.

If 𝝈𝒙 ൌ 𝟏𝟎, 𝝈𝒚 ൌ 𝟏𝟐, and bxy = - 0.8, then the value of correlation coefficient (r) is

A. - 0.84
B. - 0.96
C. - 0.75
D. 0.86
Answer» B. - 0.96
64.

When Var (x) = 2.25, Var (y) = 1 and Cov (x, y) = 0.9, then correlation coefficient is

A. 0.45
B. 0.8
C. 0.6
D. 0.75
Answer» C. 0.6
65.

If the odds against an event 3:5, the probability of that event is

A. 3/8
B. 5/8
C. 2/3
D. 1/3
Answer» B. 5/8
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