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1. |
## A numerical value used as a summary measure for a sample, such as a sample mean, is known as a |

A. | population parameter |

B. | sample parameter |

C. | sample statistic |

D. | population mean |

Answer» C. sample statistic |

2. |
## Statistics branches include |

A. | applied statistics |

B. | mathematical statistics |

C. | industry statistics |

D. | both a and b |

Answer» D. both a and b |

3. |
## To enhance a procedure the control charts and procedures of descriptive statistics are classified into |

A. | behavioural tools |

B. | serial tools |

C. | industry statistics |

D. | statistical tools |

Answer» A. behavioural tools |

4. |
## Sample statistics are also represented as |

A. | lower case greek letter |

B. | roman letters |

C. | associated roman alphabets |

D. | upper case greek letter |

Answer» B. roman letters |

5. |
## Individual respondents, focus groups, and panels of respondents are categorised as |

A. | primary data sources |

B. | secondary data sources |

C. | itemised data sources |

D. | pointed data sources |

Answer» A. primary data sources |

6. |
## The variables whose calculation is done according to the weight, height and length and weight are known as: |

A. | flowchart variables |

B. | discrete variables |

C. | continuous variables |

D. | measuring variables |

Answer» C. continuous variables |

7. |
## A method used to examine inflation rate anticipation, unemployment rate and capacity utilisation to produce products is classified as |

A. | data exporting technique |

B. | data importing technique |

C. | forecasting technique |

D. | data supplying technique |

Answer» C. forecasting technique |

8. |
## Graphical and numerical methods are specialized processes utilised in |

A. | education statistics |

B. | descriptive statistics |

C. | business statistics |

D. | social statistics |

Answer» B. descriptive statistics |

9. |
## The scale applied in statistics which imparts a difference of magnitude and proportions is considered as |

A. | exponential scale |

B. | goodness scale |

C. | ratio scale |

D. | satisfactory scale |

Answer» C. ratio scale |

10. |
## Review of performance appraisal, labour turnover rates, planning of incentives and training programs and are examples of |

A. | statistics in production |

B. | statistics in marketing |

C. | statistics in finance |

D. | statistics in personnel management |

Answer» D. statistics in personnel management |

11. |
## Which one is correct for a binomial distribution? |

A. | mean = variance |

B. | mean > variance |

C. | mean < variance |

D. | mean ≤ variance |

Answer» B. mean > variance |

12. |
## In a binomial distribution, n =5 mean equals 2, what is the value of q? |

A. | .40 |

B. | .50 |

C. | .60 |

D. | .70 |

Answer» C. .60 |

13. |
## Three fair coins tossed simultaneously what is the probability to get exact 2 head? |

A. | 3/8 |

B. | 2/8 |

C. | 1/8 |

D. | 1 |

Answer» A. 3/8 |

14. |
## In a binomial distribution variance found to be 1 and q=1/2, what is the value of n? |

A. | 10 |

B. | 5 |

C. | 6 |

D. | 4 |

Answer» D. 4 |

15. |
## In a basket there are 5 red balls and 3 black balls, what is the probability to select 2 balls from that in which one is black and one is red? |

A. | 2/8 |

B. | 5/8 |

C. | 8/28 |

D. | 15/28 |

Answer» D. 15/28 |

16. |
## What is true for a poison Distribution? |

A. | mean = variance |

B. | mean > variance |

C. | mean < variance |

D. | mean ≤ variance |

Answer» A. mean = variance |

17. |
## A statement about a population developed for testing is called |

A. | hypothesis |

B. | hypothesis testing |

C. | level of significance |

D. | test-statistic |

Answer» A. hypothesis |

18. |
## Any hypothesis, which are tested for the purpose of rejection under the assumption that it is true, is called |

A. | null hypothesis |

B. | alternative hypothesis |

C. | statistical hypothesis |

D. | composite hypothesis |

Answer» A. null hypothesis |

19. |
## The alternative hypothesis is also called |

A. | null hypothesis |

B. | statistical hypothesis |

C. | research hypothesis |

D. | simple hypothesis |

Answer» C. research hypothesis |

20. |
## A rule or formula that provides a basis for testing a null hypothesis is called |

A. | test-statistic |

B. | population statistic |

C. | both of these |

D. | none of the above |

Answer» A. test-statistic |

21. |
## The range of test statistic-t is |

A. | 0 to ∞ |

B. | 0 to 1 |

C. | -∞ to +∞ |

D. | -1 to +1 |

Answer» C. -∞ to +∞ |

22. |
## If Ho is true and we reject it is called |

A. | type-i error |

B. | type-ii error |

C. | standard error |

D. | sampling error |

Answer» A. type-i error |

23. |
## A passing student is failed by an examiner, it is an example of |

A. | type-i error |

B. | type-ii error |

C. | best decision |

D. | all of the above |

Answer» A. type-i error |

24. |
## 1 – α is also called |

A. | confidence coefficient |

B. | power of the test |

C. | size of the test |

D. | level of significance |

Answer» A. confidence coefficient |

25. |
## 1 – α is the probability associated with |

A. | type-i error |

B. | type-ii error |

C. | level of confidence |

D. | level of significance |

Answer» A. type-i error |

26. |
## Area of the rejection region depends on |

A. | size of α |

B. | size of β |

C. | test-statistic |

D. | number of values |

Answer» A. size of α |

27. |
## Level of significance is also called |

A. | power of the test |

B. | size of the test |

C. | level of confidence |

D. | confidence coefficient |

Answer» B. size of the test |

28. |
## Critical region is also called |

A. | acceptance region |

B. | rejection region |

C. | confidence region |

D. | statistical region |

Answer» B. rejection region |

29. |
## The weighted average of price relations using basic values as weights is same as the ……………… |

A. | laspeyres quantity index |

B. | paasches’ price index |

C. | laspeyres price index |

D. | kelly’s price index |

Answer» A. laspeyres quantity index |

30. |
## Which one of the following indices satisfies both time reversal and factor reversal list ? |

A. | lasperyres index number |

B. | fischer’s index number |

C. | paasches index number |

D. | bowley’s index number |

Answer» B. fischer’s index number |

31. |
## Which one of the following index numbers is based on Geometric Mean ? |

A. | lasperyres index number |

B. | fischer’s index number |

C. | paasches index number |

D. | bowley’s index number |

Answer» B. fischer’s index number |

32. |
## If the Paasches’ index is 196 and Fishers index is 210, What is the value of the Laspeyres’ index? |

A. | 220 |

B. | 215 |

C. | 225 |

D. | 230 |

Answer» C. 225 |

33. |
## The major purpose of price index is to measure change in the ………… |

A. | standard of living |

B. | gold content of money |

C. | buying power of money |

D. | capacity to produce |

Answer» C. buying power of money |

34. |
## Which of the following statement is not correct ? Fishers’ index : |

A. | lies between laspeyres’ (l) & paasches’ index |

B. | is the arithmetic mean of l & p |

C. | is the geometric mean of l & p |

D. | is equal to l or p if l = p |

Answer» B. is the arithmetic mean of l & p |

35. |
## In consumer price index number weights are determing on the basis of ……….. |

A. | actual price of the index |

B. | the consumption pattern of the class of population |

C. | actual consumption expenditure |

D. | both price & consumption expenditure |

Answer» B. the consumption pattern of the class of population |

36. |
## Consumer price index number indicates |

A. | the general price level |

B. | the wholesale price level |

C. | export price |

D. | all of these |

Answer» A. the general price level |

37. |
## Index Numbers measure |

A. | the change in base year prices |

B. | the change in current year prices |

C. | real changes |

D. | none of the above |

Answer» A. the change in base year prices |

38. |
## Simple fixed quantity relative |

A. | × 100 |

B. | × 100 |

C. | × 100 |

D. | × 100 |

Answer» C. × 100 |

39. |
## The day to day irregularities in business activity are the example of |

A. | secular trend |

B. | seasonal fluctuations |

C. | cyclical fluctuations |

D. | random or erratic fluctuations |

Answer» D. random or erratic fluctuations |

40. |
## Fisher’s ideal index Number satisfies |

A. | time reversal & factor reversal list |

B. | only time reversal list |

C. | only factor reversal list |

D. | circular list |

Answer» A. time reversal & factor reversal list |

41. |
## Fishers ideal index is obtained as : |

A. | the sum of laspeyre’s & paasche’s indices |

B. | the geometric mean of laspeyer’s & paasche’s indices |

C. | the arithemetic mean of laspeyer’s & paasche’s indices |

D. | the harmonic mean of laspeyre’s & paasche’s indices |

Answer» B. the geometric mean of laspeyer’s & paasche’s indices |

42. |
## ∑ ∑ × 100 is the formula for calculating …….. |

A. | bowley’s index |

B. | fisher’s index |

C. | laspeyer’s index |

D. | paasche’s index |

Answer» C. laspeyer’s index |

43. |
## Laspeyres index measures change in |

A. | fixed market basket |

B. | current consumption |

C. | both fixed and current market basket |

D. | none |

Answer» A. fixed market basket |

44. |
## is the formula for calculating |

A. | fishers index |

B. | bowley’s method |

C. | laspeyre’s index |

D. | paasche’s index |

Answer» B. bowley’s method |

45. |
## Recurrent variations in time series that usually last longer than a year is known as …………… |

A. | seasonal variation |

B. | secular trend |

C. | irregular variation |

D. | cyclical variation |

Answer» D. cyclical variation |

46. |
## Paasche’s index measures change in |

A. | fixed market basket |

B. | current consumption |

C. | both fixed and current market |

D. | none |

Answer» B. current consumption |

47. |
## A lock-out in a factory for a month is associated with the component of time series |

A. | trend |

B. | seasonal variation |

C. | cyclic variation |

D. | irregular variation |

Answer» D. irregular variation |

48. |
## Consumer price index number is constructed for |

A. | a well defined section of people |

B. | workers only |

C. | all people |

D. | all the above |

Answer» A. a well defined section of people |

49. |
## Which one is not the test of index Number |

A. | unit test |

B. | time reversal test |

C. | triangular test |

D. | factor reversal test |

Answer» C. triangular test |

50. |
## The average of Laspeyre’s and Paasche’s index number which gives Fisher’s index number is |

A. | am |

B. | gm |

C. | hm |

D. | weighted average |

Answer» B. gm |

51. |
## Purchasing power of money |

A. | price index × 100 |

B. | 100 |

C. | 100/ |

D. | real wage |

Answer» C. 100/ |

52. |
## Factor reversal list permits the interchange of |

A. | base periods |

B. | price & quantity |

C. | weights |

D. | none of the above |

Answer» B. price & quantity |

53. |
## The method which is not used for estimating seasonal components of a time series |

A. | ratio to trend method |

B. | link relative method |

C. | method of simple average |

D. | method of least squares |

Answer» D. method of least squares |

54. |
## Cost of living index is known as |

A. | consumer price index |

B. | whole sale price index |

C. | quantity index |

D. | none |

Answer» A. consumer price index |

55. |
## Paasches index number is based on |

A. | base year quantity |

B. | current year quantity |

C. | day year quantity |

D. | none |

Answer» B. current year quantity |

56. |
## Measures of change in the level of phenomenon is called |

A. | correlation |

B. | dispersion |

C. | mean |

D. | index numbers |

Answer» D. index numbers |

57. |
## Which of the following is described as ‘barometers of economic activity’? |

A. | index number |

B. | correlation |

C. | regression |

D. | time series |

Answer» A. index number |

58. |
## Test to determine whether a given method will work both forward & backward |

A. | unit test |

B. | factor reversal test |

C. | time reversal test |

D. | none |

Answer» C. time reversal test |

59. |
## Data which are collected, observed or recorded at successive intervals of time is known as …… |

A. | index numbers |

B. | time series |

C. | regression |

D. | correlation |

Answer» B. time series |

60. |
## Earthquake is an example of |

A. | secular trend |

B. | seasonal variation |

C. | cyclical variation |

D. | irregular variation |

Answer» D. irregular variation |

61. |
## All methods of index numbers except simple (unweighted) aggregative index satisfies |

A. | unit test |

B. | time reversal list |

C. | factor reversal test |

D. | circular test |

Answer» A. unit test |

62. |
## The word statistics was used in………….. |

A. | 1749 |

B. | 1849 |

C. | 1790 |

D. | 1801 |

Answer» A. 1749 |

63. |
## Statistics is ……………… |

A. | science only |

B. | art only |

C. | science and art |

D. | neither science nor art |

Answer» C. science and art |

64. |
## Statistics can…………… |

A. | prove anything |

B. | disprove any thing |

C. | neither prove nor disprove anything is just a tool |

D. | none of these |

Answer» C. neither prove nor disprove anything is just a tool |

65. |
## Bar diagrams are ……………………..dimensional diagrams |

A. | one |

B. | two |

C. | three |

D. | none of these |

Answer» A. one |

66. |
## The number of observations corresponding to a class is known as ………………..of that class. |

A. | population |

B. | frequency |

C. | class interval |

D. | none of these |

Answer» B. frequency |

67. |
## Diagrams and graphs are the tools of………………… |

A. | collection of data |

B. | analysis of data |

C. | summarisation of data |

D. | presentation of data |

Answer» D. presentation of data |

68. |
## Circle diagram is also called |

A. | pie diagram |

B. | pictogram |

C. | sectors |

D. | none of these |

Answer» A. pie diagram |

69. |
## Histogram is a ……………… |

A. | graph |

B. | curve |

C. | diagram |

D. | pictogram |

Answer» A. graph |

70. |
## In a Histogram bars………………. |

A. | touch each other |

B. | do not touch |

C. | either way |

D. | neither way |

Answer» A. touch each other |

71. |
## With the help of histogram we can prepare |

A. | frequency polygon |

B. | frequency cure |

C. | both |

D. | done |

Answer» C. both |

72. |
## Media is same as ………………..guartile |

A. | first |

B. | second |

C. | third |

D. | fourth |

Answer» B. second |

73. |
## Median is the average suited for ……………classes |

A. | open-end |

B. | closed-end |

C. | both of these |

D. | none of these |

Answer» A. open-end |

74. |
## Which average is affected most by extreme observations |

A. | mode |

B. | medium |

C. | geometric mean |

D. | arithmetic mean |

Answer» C. geometric mean |

75. |
## Which of the following is the most unstable average ? |

A. | mode |

B. | median |

C. | arithmetic mean |

D. | geometric mean |

Answer» A. mode |

76. |
## For dealing with qualitative data, the best average is ………….. |

A. | arithmetic mean |

B. | geometric mean |

C. | harmonic mean |

D. | median |

Answer» D. median |

77. |
## The sum of deviations taken from arithmetic Mean is |

A. | maximum |

B. | minimum |

C. | zero |

D. | one |

Answer» C. zero |

78. |
## The sum of squares of deviations from arithmetic mean is ……… |

A. | maximum |

B. | minimum |

C. | zero |

D. | one |

Answer» B. minimum |

79. |
## The best measure of central tendency is ……………. |

A. | arithmetic mean |

B. | geometric mean |

C. | median |

D. | harmonic mean |

Answer» A. arithmetic mean |

80. |
## The 75th percentile is |

A. | greater than d6 |

B. | less than d6 |

C. | equal to d6 |

D. | equal to d6 |

Answer» A. greater than d6 |

81. |
## Average is a measure of …………. |

A. | central tendancy |

B. | dispersion |

C. | symmetry |

D. | concentration |

Answer» A. central tendancy |

82. |
## Histogram can be used to estimate…………… |

A. | median |

B. | mode |

C. | mean |

D. | quartile |

Answer» B. mode |

83. |
## Deciles divide the data in to ……………….equal parts. |

A. | 100 |

B. | 10 |

C. | 2 |

D. | 4 |

Answer» B. 10 |

84. |
## The positionl value which divide the data into 100 equal parts are |

A. | decile |

B. | percentile |

C. | quartiles |

D. | octiles |

Answer» B. percentile |

85. |
## Which of the following represents median ? |

A. | fiftieth percentile |

B. | first quartile |

C. | sixth decile |

D. | 20th percentile |

Answer» A. fiftieth percentile |

86. |
## When Mean = 20 Median = 30, Mode = ? |

A. | 40 |

B. | 50 |

C. | 60 |

D. | 70 |

Answer» B. 50 |

87. |
## Harmonic Mean is the ………………of arithmetic Mean |

A. | reciprocal |

B. | substitute |

C. | both of these |

D. | none of these |

Answer» A. reciprocal |

88. |
## Square of standard deviation of a distribution is the |

A. | median |

B. | variance |

C. | mode |

D. | none of these |

Answer» B. variance |

89. |
## The best measure of dispersion is ……………. |

A. | range |

B. | variance |

C. | quartile deviations |

D. | standard deviation |

Answer» D. standard deviation |

90. |
## The measure of dispersion based on all the observations of the series is ……………. |

A. | range |

B. | quartile deviation |

C. | standard deviation |

D. | inter quartile range |

Answer» C. standard deviation |

91. |
## The Mean is 1000 and standard deviation is 50 then coefficient of variation is |

A. | 15 |

B. | 5 |

C. | 8 |

D. | 10 |

Answer» B. 5 |

92. |
## Mean deviation is minimum when deviations are taken from |

A. | mean |

B. | median |

C. | mode |

D. | zero |

Answer» B. median |

93. |
## Meaures of dispersion which ignores the sign is…………… |

A. | mean deviation |

B. | range |

C. | quartile deviation |

D. | standard deviation |

Answer» A. mean deviation |

94. |
## When 5 is added to all the values of a series then standard deviation |

A. | does not change |

B. | becomes 5 times |

C. | increased by 5 |

D. | decreased by 5 |

Answer» A. does not change |

95. |
## In a normal distribution Q.D = ………….. |

A. | sd |

B. | sd |

C. | (sd) |

D. | √sd |

Answer» A. sd |

96. |
## For the open-end class frequency distribution the appropriate measure of dispersion is…………. |

A. | range |

B. | quartile deviation |

C. | mean deviation |

D. | standard deviation |

Answer» B. quartile deviation |

97. |
## For a symmetrical distribution the coefficient of skewness is |

A. | +1 |

B. | -1 |

C. | +3 |

D. | -3 |

Answer» C. +3 |

98. |
## The relationship between x and y is y = 2x + 1. The correlation between x and y is: |

A. | 1 |

B. | -1 |

C. | 0 |

D. | 4 |

Answer» A. 1 |

99. |
## When there is perfect correlation, the value of the correlation coefficient is: |

A. | -1 |

B. | +1 |

C. | ±1 |

D. | 0 |

Answer» C. ±1 |

100. |
## When the correlation coefficient r = ±1, the two regression lines: |

A. | are perpendicular to each other |

B. | are parallel to each other |

C. | coincide |

D. | do not exist |

Answer» C. coincide |

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Quantitative Methods for Economic Analysis 2
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