McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Arts in Economics (BA Economics) , Master of Arts in Economics (MA Economics) .
| 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 | |
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