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Business Statistics MCQs 1st Edition Arshad Iqbal - Solutions

According to empirical rule, the standard deviation and mean interval that covers approximately 68.27% of data from a frequency distribution is A. μ±σB. 2μ±2σC. 3μ±2σD. 4μ±4σ
The number of emergency cases in hospital for five days are as 12, 15, 18, 16, 14 then variance of sample is A. 5 B. 20 C. 4 D. 15
The average deviation measures and distance measures are classified as measures of dispersion on the basis of A. relative processing B. information compiled C. data available D. method employed
In statistics, the distance or dispersion from the central value is classified as A. standard variance B. sample variance C. standard root D. standard deviation
The mean absolute deviation which is used as relative measure is called A. coefficient of quartile range deviation B. coefficient of mean absolute deviation C. coefficient of mean deviation D. coefficient of absolute quartile deviation
For a given set of number of customers who visit a shoes shop in 5 consecutive days, the mean absolute deviation is 10 then standard deviation of data set is A. 2 B. 10 C. 12.5 D. 50
Considering the standard deviation, the quartile deviation is equal to A. 3⁄2 σB. 2⁄3 σC. 2μ⁄3 σD. 4μ⁄3 σ
The difference between smallest observation in data set and largest observation in data set is classified as A. positive uniformity B. negative uniformity C. range D. average
Considering the set of values, the percentage of values that lies within three standard deviation of population plus population mean is A. 88.90%B. 78.90%C. 68.90%D. 98.90%
The variability measuring tool in which the standard deviation is divided by arithmetic mean and multiplied by 100 is classified as A. coefficient of variation B. coefficient of standard deviation C. coefficient of deviation D. coefficient of mean
The measures which considers the mean or median to calculate average deviation does not includes A. mean absolute deviation B. standard deviation C. variance D. median deviation
In the classes of grouped data such as 10-15, 16-20, 21-25, 26-30 with respective frequencies of each class as 3, 5, 4, 3 then the range is A. 5 B. 6 C. 15 D. 20
The total revenue (in crores) of five leather goods companies are as two companies have revenues between 10-20, one company has revenue between 20-30 and one company has revenue between 30-40 then the standard deviation is A. 7.9 B. 4.9 C. 5.9 D. 6.9
The technique used in measures of variations to show the direction of variation in set of observations is classified as A. measures of dispersion B. measures of statistics C. measures of skewness D. measures of process
If the scatter or dispersion in the distribution is high on each side then this indicates A. outliers of data B. low uniformity of data C. high uniformity of data D. dispersion of data
The output of 15 workers in hand made leather shoes company is as 50, 65, 70, 55, 62, 74, 75, 65, 70, 78, 79, 80, 68, 72, 67 then the range is A. 30 B. 80 C. 75 D. 79
According to empirical rule, the mean and standard deviation interval that covers approximately 95.45% of data from a frequency distribution is A. μ±σB. 2μ±2σC. 3μ±2σD. μ±2σ
The shape of frequency distribution constructed in consideration of empirical rule is classified as A. bell shaped B. tower shape C. wing shape D. fish shape
The sum of observations is 12 and coefficient of absolute mean deviation is 18 then value of mean absolute deviation is A. 516 B. 716 C. 216 D. 616
The sum of squared deviation of sample mean is 48 and total number of observation is 13 then the population variance is A. 61 B. 48 C. 13 D. 4
The measurement of inequality in wealth and income distribution is measured with the help of A. measurement of bimodaling B. measurement of outliers C. measurement of uniformity D. measurement of variability
The value of first quartile is 23 and the inter quartile range is 20 then the value of third quartile is A. 63 B. 53 C. 43 D. 73
If the arithmetic mean is 78 and coefficient of variation is 12.3%then the standard deviation is A. 10.594 B. 9.594 C. 8.59 D. 11
The output of 20 workers in hand made pot painting store is as 55, 65, 62, 60, 74, 75, 65, 70, 70, 72, 67, 78, 79, 80, 68, 54, 56, 63, 69, 71 then the coefficient of range is A. 0.29 B. 0.19 C. 0.49 D. 0.39
The standard deviation of population is denoted by A. ΩB. ωC. σD. Σ
The standard deviation of first 50 natural numbers is A. 45.43 B. 14.43 C. 20.43 D. 16.43
The formula written as quartile deviation divided by sum of third and first quartile is used to calculate A. coefficient of quartile deviation B. coefficient of quartiles C. coefficient of inter quartiles D. coefficient of central tendency
The formula in which Σ(x-x‾)² is divided by one less than number of observations in sample is classified as A. coefficient of deviation B. mean variance C. sample variance D. population variance
The sum of highest and lowest value is 80 and the coefficient of range is 0.625 then the difference between highest and lowest value is A. 70 B. 100 C. 150 D. 50
The measure of variation which is useful for highly skewed distribution is A. inter quartile deviation B. quartile deviation C. inter quartile range D. quartile range
Considering the set of observations, the percentage of values that lies within population mean plus two standard deviations is A. 60%B. 55%C. 75%D. 85%
Considering the individual values of data set, the actual mean must always be A. 1 B. −1 C. 0 D. 2
The measuring theorem which helps in determining proportion of observations for specific interval of mean and standard deviation is classified as A. Pearson Theorem B. Chebyshev's Theorem C. sampling theorem D. population theorem
The undesirable consequences which causes the estimated population variance to appear less as compared to real results are classified as A. undesired error B. bias C. non-calculate error D. non-zero error
The value of third quartile is 72, second quartile is 52 and the first quartile is 45 then quartile deviation is A. 13.5 B. 14 C. 16.5 D. 18.5
If the standard deviation is 5 then quartile deviation is A. 5 B. 0.334 C. 0.234 D. 0.134
The technique which implies in statistical process to measure the variation in data is called A. measures of dispersion B. measures of statistics C. measures of process D. none of above
If in a formula, the mean absolute deviation is numerator and arithmetic mean is denominator then the resultant value is classified as A. coefficient of mean deviation B. coefficient of absolute quartile deviation C. coefficient of quartile range deviation D. coefficient of mean absolute deviation
The value of third quartile is 61 and inter quartile range of the set of observation is 48 then value of first quartile is A. 24 B. 34 C. 64 D. 13
The standard deviation of data is 12 and the mean is 72 then coefficient of variation is A. 14.67%B. 16.67%C. 12.67%D. 13.67%
if the calculated value of total sum of squares in sample variance is larger than the variation in data set is considered as A. smaller B. greater C. zero D. negative
The formula which considers the relationship between set of observations, standard deviation and mean is classified as A. empirical value B. three way rule C. normal rule D. both a and c
If the large number of values lies in the central part of data table then the spread of values is measured by A. percentile range B. inter quartile range C. quartile range D. deciles range
The lesser uniformity of 50% observations around the median value is indicated with the help of A. larger value of range deviation B. smaller value of range deviation C. larger value of quartile deviation D. smaller value of quartile deviation
The population variance is also called A. sigma squared B. negative sigma C. square root D. cubic root
The categories of measures of dispersion are classified as A. uniform measures B. relative measures C. absolute measures D. both b and c
The theorem which states least percentage of values that fall within z-standard deviations is classified as A. Chebyshev's Theorem B. sampling theorem C. Pearson Theorem D. population theorem
According to empirical rule, the standard deviation and mean interval that covers approximately 99.75% of data from a frequency distribution is A. 4μ±4σB. 3μ±3σC. μ±3σD. 2μ±2σ
If the standard deviation is 7 then mean absolute deviation is A. 9.75 B. 5.6 C. 7 D. 8.75
The standard deviation is divided by the coefficient of variation to calculate A. arithmetic mean B. coefficient of arithmetic C. coefficient of variance D. multiplier of deviation
The relative measures in measures of dispersion are also considered as A. coefficient of deviation B. coefficient of average C. coefficient of variation D. coefficient of uniformity
The high uniformity of 50% observations around the median value is indicated with the help of A. larger value of quartile deviation B. smaller value of quartile deviation C. larger value of range deviation D. smaller value of range deviation
If the quartile deviation of given set of data of 20 observations is 12 then value of the standard deviation is A. 1.667 B. 18 C. 8 D. 32
In manufacturing company, the number of employees in unit A is 40, the mean is USD $6400 and the number of employees in unit B is 30 with the mean of Rs. 5500 then the combined arithmetic mean is A. 9500 B. 8000 C. 7014.29 D. 6014.29
The difference between highest and lowest observation is 20 and coefficient of range is 0.077 then sum of highest and lowest value is A. 210 B. 220 C. 260 D. 240
The mean absolute deviation is divided by coefficient of mean absolute deviation to calculate A. variance B. median C. arithmetic mean D. coefficient of variation
Considering the standard deviation, the mean absolute deviation is equal to A. 5⁄4σB. 5⁄8σC. 4⁄5σD. 7⁄8σ
Considering the sales, the coefficient of variation for product X is 9.3% and the coefficient of variation for product Y is 8.9% then sales fluctuation of A. product X is higher B. product Y is higher C. product X is lower D. product X and Y is lower
For the set of values, the percentage of values that lies within population mean plus four standard deviations of population is A. 83.75%B. 93.75%C. 95%D. 98.75%
In terms of dispersion difference, the measurement of dispersion for available data is classified as A. average measures B. distance measures C. average deviation measures D. availability measures
The number of patients who visited the cardiologists are as 63, 57, 51, 65 in four days then the absolute mean deviation (approximately) is A. 8 patents B. 4 patients C. 10 patients D. 15 patients
The mean absolute deviation is 5 and the arithmetic mean is 110 then coefficient of mean absolute deviation is A. 1.054 B. 0.045 C. 0.054 D. 0.064
The measure of distance which is greatly influenced by extreme values in data is considered as A. range B. average C. positive uniformity D. negative uniformity
The mean of squared deviations which is calculated from arithmetic mean is called A. mean square average B. standard square average C. population average D. sample square average
The variability which is defined as the difference between third and first quartile is considered as A. quartile range B. deciles range C. percentile range D. inter quartile range
If the set of observations is 11, 13, 15, 12, 16, 18, 19, 14, 20, 17 and absolute mean deviation is 12 then the percentage of coefficient of mean absolute deviation is A. 47.41%B. 57.41%C. 67.41%D. 77.41%
If total sum of square is 20 and the sample variance is 5 then total number of observations are A. 15 B. 25 C. 4 D. 35
If the value of first quartile is 49 and the value of third quartile is 60 then value of inter quartile range is A. 21 B. 31 C. 11 D. 41
In a set of observations, the amount of variation can be shown in the form of figures with the help of A. absolute measures B. uniform measures C. non-uniform measures D. exploratory measures
The formula of coefficient of range is A. L+L⁄H+H B. H+H⁄L+L C. H-L⁄H+L D. H+l⁄H-L
The examples of applications of range in real world includes A. weather forecasts B. quality control C. fluctuation in share prices D. all of above
If the positive square root is taken of population variance then the calculated measure is transformed into A. standard root B. standard deviation C. standard variance D. sample variance
if the arithmetic mean is considered as average of deviations then resultant measure is considered as A. close end deviation B. mean absolute deviation C. mean deviation D. variance deviation
If the arithmetic mean is multiplied to coefficient of variation then the resulting value is classified as A. coefficient of deviation B. coefficient of mean C. standard deviation D. variance
For the recorded observation, the ratios measured by absolute variation are considered as A. non-relative measures B. relative measures C. high uniform measures D. low uniform measures
The sum of all the squared deviations is divided by the total number of observations to calculate A. population deviation B. population variance C. sample deviation D. sample variance
If mean absolute deviation of set of observations is 8.5 then value of quartile deviation is A. 7.08 B. 9.08 C. 10.2 D. 11.2
If the quartile range is 24 then the quartile deviation is A. 48 B. 12 C. 24 D. 72
If the arithmetic mean is 20 and the harmonic mean is 30 then geometric mean is A. 14.94 B. 24.94 C. 34.94 D. 44.94
For the individual observations, the reciprocal of arithmetic mean is called A. geometric mean B. harmonic mean C. deviation square mean D. paired mean
In the measure of central tendency, the sample statistic is denoted by A. Athens letter μB. roman letter x‾C. Greek letter μD. roman letter μ
The calculation of average which is calculated by pooling the data together from different data sets is classified as A. geometric mean B. harmonic mean C. deviation square mean D. paired mean
The distribution which has outliers with relatively lower values is considered as A. experimentally skewed B. exploratory skewed C. positively skewed D. negatively skewed
The concept used in calculation of index numbers and where smaller observations must be taken into consideration is called A. deviation square mean B. paired mean C. geometric mean D. harmonic mean
The numerical value which shows the tendency around central value of cluster is classified as A. central tendency B. cluster tendency C. group tendency D. numerical tendency
The properties such as variation, central tendency and shape of distribution of frequency are basis to extract information from A. extended measures B. skewed measure C. ordinal measures D. descriptive measures
If value of mode is 14 and value of arithmetic mean is 5 then the value of median is A. 12 B. 18 C. 8 D. 14
The type of central tendency measures which divides data set into four equal parts is A. quartiles B. deciles C. percentiles D. multiple pile of data
The product A has per unit contribution of 6 with the sold quantity of 120 units, product B has per unit contribution of 8 with sold quantity of 100 units and product C has per unit contribution of 10 with sold quantity of 130 units then the weighted average mean is A. $7.06 B. $8.06 C. $9.06 D.
The Σxwis divided by Σwis used to calculate A. weighted arithmetic mean B. paired arithmetic mean C. non-paired arithmetic mean D. square of arithmetic mean
The marks of 20 students out of 15 in class test are as 10, 11, 12, 12.5, 13.5, 14, 10, 11, 12, 12.5, 13.5, 14, 8, 9, 9, 8, 10, 11, 11.5, 12.5 then average marks of class is A. 12.25 B. 11.25 C. 13.25 D. 14.25
The value of Σfd is 165, A= 25, and width of class interval is 10, arithmetic mean is 145 then the number of observations are A. 35 B. 36 C. 34 D. 32
If the central tendency is found by using sample data from population then this is classified as A. tendency statistic B. average statistic C. sample statistic D. population statistic
If the value of three measures of central tendencies median, mean and mode then the distribution is considered as A. negatively skewed modal B. triangular model C. unimodel D. bimodel
The distribution in which the values of median, mean and mode are not equal is considered as A. experimental distribution B. asymmetrical distribution C. symmetrical distribution D. exploratory distribution
The sample stability and ability to be easily understandable are requirements to measure A. positive tendency B. population tendency C. central tendency D. sample tendency
The type of central tendency measures which divides data set into 100 equal parts is classified as A. quartiles B. deciles C. percentiles D. multiple pile of data
The marks of Cambridge univerdity students in mathematics test out of 20 are 18, 17, 16, 15, 14, 17, 16, 14, 13, 12, 12, 11, 14, 19, 18 A. 14 B. 14.5 C. 15 D. 13
In an hospital in Boston (USA), the number of heart patients who visited cardiologist in 17 days are 11, 12, 15, 18, 17, 12, 14, 15, 16, 17, 18, 13, 19, 14, 18, 13, 20 A. 15 B. 14 C. 16 D. 15.5
The service time (in minutes) at airport ticket counter is as 4.5, 5.5, 6, 7, 8, 8.5, 4, 3, 3.5, 2.5, 3.8 then the median of the data is A. 3.8 B. 4.5 C. 4 D. 4.75

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