Quiz about Quantitative Methods for Economic Analysis 1

Question 1

The following integers were obtained as the number of visits to a gift shop, per hour, over
several days. the mean of the above data, to 2 decimal places.

Accepted Answer

2.81

Answer

2.80

Answer

3.00

Answer

2.8

Question 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

Accepted Answer

the people of india is called the population, and the people you called are the sample.

Answer

both the people of india and the people you called is the population

Answer

the people of india is the sample, and the people you called is the population.

Answer

both the people of india and the people you called are samples.

Question 3

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

Accepted Answer

sample; population

Answer

population; sample

Answer

sample; cohort

Answer

participant; population

Question 4

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

Accepted Answer

all of the above

Answer

when the data is skewed.

Answer

when data is positively skewed

Answer

when data is negatively skewed

Question 5

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

Accepted Answer

as horizontal

Answer

as vertical

Answer

as provides the best fit to the scores

Answer

through the middle of the data points

Question 6

Linear regression can achieve which of the following

Accepted Answer

allow us to predict someone’s statistical grade from their mathematical ability

Answer

allow us to identify how much variable y will change if variable x changes

Answer

allow us to predict that as the weather gets 30% colder, then the sales of sweaters will increase by 50%.

Answer

all of the above

Question 7

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

Accepted Answer

constant

Answer

increasing

Answer

decreasing

Answer

all of the above

Question 8

In regression, the variable being predicted is called the

Accepted Answer

criterion or y variable

Answer

predictor variable or x

Answer

x

Answer

explanatory variable

Question 9

Which of the following is incorrect

Accepted Answer

in linear regression the line of best fit maximises the distance between the scores and the regression line.

Answer

in linear regression a real line is drawn through the data points where total error is minimized.

Answer

in linear regression the line tells us by how much y is predicted to change as a result of a change in x.

Answer

in linear regression the line fits the data in the best place possible.

Question 10

A correlation coefficient of +0.40 could be considered

Accepted Answer

moderate

Answer

weak

Answer

strong

Answer

zero

Practice Test On: Quantitative Methods for Economic Analysis 1

Practice Test On:
Quantitative Methods for Economic Analysis 1