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Business Statistics MCQs 1st Edition Arshad Iqbal - Solutions
The number of observations are 24 and value of x‾ is 28 then the sum of all the values is A. −4 B. 40000%C. 52 D. 672
The per day wage of 15 employees of different departments is as 620, 640, 750, 850, 650, 720, 730, 785, 630, 740, 900, 880, 780, 690, 850 then the value of x‾ is A. 647.67 B. 947.67 C. 847.67 D. 747.67
In the measure of central tendency, the population parameter is denoted by A. Greek letter μB. roman letter μC. Athens letter μD. roman letter x‾
The product W has per unit contribution of 8 with sold quantity of 124 units, the product X has per unit contribution of 5 with the sold quantity of 105 units, product Y has per unit contribution of 9 with sold quantity of 135 units, product Z has per unit contribution of 12 with sold quantity of
Around the central value of observations, the extent to which the values depart from normal distribution is classified as A. negative variation B. positive variation C. skewness D. positive trailing
The measure of central tendency which represents over time multiplicative effects for inflation and compound interest is considered as A. deviation square mean B. paired mean C. geometric mean D. harmonic mean
If the frequencies widely varies between different classes, then the measure of central tendency must be used is A. non-paired arithmetic mean B. square of arithmetic mean C. weighted arithmetic mean D. paired arithmetic mean
When the data is arranged, the middle value in the set of observations is classified as A. median B. mean C. variance D. standard deviation
At a grocery store, the number of per day sold processed fruits cans in 15 days are 50, 70, 60, 40, 30, 20, 5, 150, 55, 75, 65, 45, 35, 25, 52 then the outliers in observations are A. 50, 150 B. 5, 150 C. 25, 70 D. 150
If the mean of percentages, rates and ratios is to be calculated then the central tendency measure which must be used in this situation is A. weighted arithmetic mean B. paired arithmetic mean C. non-paired arithmetic mean D. square of arithmetic mean
The mean or average used to measure central tendency is called A. sample mean B. arithmetic mean C. negative mean D. population mean
The method used to compute average or central value of the collected data is considered as A. measures of positive variation B. measures of central tendency C. measures of negative skewness D. measures of negative variation
The arithmetic mean is 12 and the number of observations are 20 then the sum of all the values is A. 8 B. 32 C. 240 D. 1.667
In the quartiles, the central tendency median to be measured must lie in A. first quartile B. second quartile C. third quartile D. four quartile
In a set of observations, the unusual lower and higher values are called A. outliers B. free liners C. central liners D. median liners
considering all the observations of arithmetic mean, the sum of squares of deviations must be less than A. sum of multiples of other quantity B. sum of deviations from other quantity C. sum of squares from other quantity D. cumulative frequency from other quantity
The arithmetic mean is 25 and all the sum of observations is 350 then the number of observations are A. 25 B. 70 C. 14 D. 75
The distribution whose outliers are higher values is considered as A. variable model B. right skewed C. left skewed D. constant model
In arithmetic mean, the sum of deviations of all the recorded observations must always be A. two B. minus one C. one D. zero
The number of observations are 11 and the value of arithmetic mean is 19 then sum of all values is A. 209 B. 30 C. 8 D. 173
The measure of central tendency which is calculated by considering the most frequent occurring value as central value is classified as A. central mode B. mode C. frequent value D. percent value
In statistics out of 100, the marks of 21 students in final exams are as 90, 95, 95, 94, 90, 85, 84, 83, 85, 81, 92, 93, 82, 78, 79, 81, 80, 82, 85, 76, 85 then mode of the data is A. 85 B. 95 C. 90 D. 81
The type of central tendency measures which divides data set into ten equal parts is classified as A. percentiles B. multiple pile of data C. quartiles D. deciles
In the deciles, the central tendency median to be measured must lie in A. fourth deciles B. seventh deciles C. sixth deciles D. fifth deciles
The mode is the best measure of tendency if the analysis is A. descriptive B. exploratory C. experimental D. set of deciles
The manner in which the geometric mean, harmonic mean and arithmetic mean are related is as A. A.M>G.M>H.M B. A.M>G.M
The extent to which the values are dispersed around the central observation is considered as A. trailing B. variation C. extension D. centralized valuation
The measure which describes the detailed characteristic of whole data set is classified as A. average or central value B. positive skewed value C. negative skewed value D. positive extended value
In a negative skewed distribution, the order of mean, median and mode is as A. meanmode B. mean>median>mode C. mean
The criteria of inferential statistics which considers the sum of squared deviations is classified as A. central squares criterion B. outliers square criterion C. multiple squares criterion D. least squares criterion
If the central tendency is found by using whole population as input data then this is classified as A. sample statistic B. population statistic C. population tendency D. population parameters
If the mean is 11 and the median is 13 then the value of mode is A. 15 B. 13 C. 11 D. 17
The difference of mode and mean is equal to A. 3(mean-median)B. 2(mean-median)C. 3(mean-mode)D. 2(mode mean)
The sum of values of data is divided by total number of values is used to calculate A. arithmetic mean B. weighted average mean C. geometric mean D. harmonic mean
If the arithmetic mean is 25 and the harmonic mean is 15 then geometric mean is A. 17.36 B. 16.36 C. 15.36 D. 19.36
The value of Σfd is 250, A= 25, number of observations are 12 and width of class interval is 6 then arithmetic mean is A. 25 B. 250 C. 150 D. 275
The harmonic mean, arithmetic mean and geometric mean are all considered as A. mathematical averages B. population averages C. sample averages D. extended measures
The frequency distribution whose most values are dispersed to the left or right of the mode is classified as A. skewed B. explored C. bimodal D. unimodal
According to percentiles, the median to be measured must lie in A. 80th B. 40th C. 50th D. 100th
The types of descriptive measures includes A. measures of skewness B. measures of dispersion C. measures of central tendency D. all of above
Considering the probability distribution, if the mode is greater than median then the distribution is classified as A. variable model B. right skewed C. left skewed D. constant model
The quartiles, median, percentiles and deciles are measures of central tendency classified as A. paired average B. deviation averages C. positioned averages D. central averages
The value of Σfx is 300, A= 35, number of observations are 15 and width of class interval is 5 then arithmetic mean is A. 135 B. 145 C. 150 D. 235
The value of Σfx is 180, A= 22, and width of class interval is 5, arithmetic mean is 120 then the observations are A. 59 B. 30 C. 39.5 D. 49.5
The number of observations are 30 and the value of arithmetic mean is 15 then sum of all values is A. 15 B. 450 C. 200 D. 45
If the most repeated observations recorded are outliers of data then the mode is considered as A. intended measure B. percentage measure C. best measure D. poor measure
In the two units of company, the employees in unit one are 650 and monthly salary is $2750, the employees in unit two are 700 and monthly salary is $2500 then the combined arithmetic mean is A. $2,620 B. $2,520 C. $2,420 D. $2,320
The median, mode, deciles and percentiles are all considered as measures of A. mathematical averages B. population averages C. sample averages D. averages of position
At a manufacturing plant, the unit of quantity manufactured in 8 days are 250, 320, 240, 210, 260, 330, 310, 260 A. 210 B. 260 C. 240 D. 250
The type of questions included in questionnaire to record responses in which the respondents have set of alternatives are classified as A. open ended questions B. close ended questions C. multiple choices D. itemized question
The uses of index numbers includes A. commodity prices B. cost of living C. exports and imports D. all of above
The characteristics that are intended to be analyzed and investigated for a given population are classified as A. exponents B. constants C. variables D. exponential base
The number of employees according to human resource manager is an example of A. flowchart variable B. discrete variable C. continuous variable D. measuring variable
The group of observations for which better understanding is needed and the group is related to specific phenomenon is classified as A. population B. population statistic C. phenomenon statistic D. parameter statistic
All the individual elements of sample are considered as A. experimental units B. population units C. statistical units D. process units
The statistical method which facilitate the decision making process for population sample results is classified as A. decisional procedure B. inferential statistics C. elementary statistics D. social methodology
For quality improvements, the philosophy which acts like a guide and provides solid foundation is classified as A. management philosophy B. statistical philosophy C. serial philosophy D. parallel philosophy
The collection of observations for all the variables related to some research or findings is classified as A. data B. population C. statistical process D. mesokurtic
The scale which is used in determination of categorical information is called A. discrete scale B. continuous scale C. valid scale D. nominal scale
The analysis based on study of price fluctuations, production of commodities and deposits in banks is classified as A. sample series analysis B. time series analysis C. numerical analysis D. experimental analysis
The subset of selected population is called A. descriptive portion B. elementary portion C. inferential portion D. sample
The reports published by International Labor Organization and International Monetary Fund are considered as A. external primary data sources B. internal primary data sources C. external secondary data sources D. internal secondary data sources
The structured undisguised questionnaire is the one in which the purpose of study is A. not disclosed to respondents B. disclosed to respondents C. interval respondents D. ratio respondents
The data measurement which arises from a specific process of counting is classified as A. continuous data B. discrete data C. reliable data D. valid data
The measurement of how well the particular concept and technique measures the variables is classified as A. reliability B. validity C. continuity of variables D. goodness of variables
The type of questions for questionnaire includes A. multiple choices B. open ended C. dichotomous D. all of above
The branch of statistics which deals with findings of solution in the field of medicine, education and economics is classified as A. economic statistics B. applied statistics C. mathematical statistics D. industry statistics
The use of statistics in analysis of time when to order and quantity required for the in sourcing or outsourcing of materials is an example of usage of A. statistics in marketing B. statistics in production C. statistics in personnel management D. statistics in finance
The science and art which is used to present, analyze and interpret the collected observations is classified as A. serial analysis B. statistics C. management D. accounting
In the response questionnaires, the questions which requires reflections from respondents side are called A. reflection questions B. responsive questions C. opinion questions D. reliability questions
The types of structured questions does not include A. nominal questions B. interval questions C. ratio questions D. non-disguised questions
The use of statistics in analysis of sales territories, advertising strategies and routing of sales personnel are classified as uses of A. statistics in personnel management B. statistics in finance C. statistics in marketing D. statistics in production
The measurement scale which allows the determination of differences in intervals is classified as A. interval scale B. flow measuring scale C. validity scale D. reliability scale
The measurement scale in which the values are categorized to represent qualitative differences and ranked in meaningful manner is classified as A. valid scale B. discrete scale C. ordinal scale D. continuous scale
The scale used in statistics which provides the difference of proportions as well as magnitude of differences is considered as A. satisfactory scale B. ratio scale C. goodness scale D. exponential scale
The measurement scale which allows the ranking of numbers rather than arithmetic operations on data is classified as A. valid scale B. discrete scale C. ordinal scale D. continuous scale
The data measurement which arises from a specific measuring process is classified as A. reliable data B. valid data C. continuous data D. discrete data
The characterization, collection and presentation of particular set of data in organized way is classified as A. descriptive statistics B. education statistics C. social statistics D. business statistics
According to the types of questionnaires, the structured undisguised questionnaire is the one in which the purpose of study is A. non-interval respondents B. disclosed to respondents C. not disclosed to respondents D. none of above
The collection of all the elements such as group of variables for research is classified as A. statistical process B. marginal error C. data D. population
The model which consists of management philosophy, behavioral tools and statistical methods as key steps towards improvement is considered as A. serial improvement process model B. behavioral improvement process model C. quality improvement process model D. statistics improvement process model
The numerical or descriptive measure which is associated with variable to describe entire population of statistical phenomenon is classified as A. mixer B. sampler C. parameter D. process
The type of questions included in questionnaire to record responses in which the respondent can answer in any way are classified as A. multiple choices B. itemized question C. open ended questions D. close ended questions
The measurement scale which allows the researchers and statisticians to perform certain operations on the data collected from respondents is classified as A. interval scale B. flow measuring scale C. validity scale D. reliability scale
The analytical study of breakeven point and decisions related to investments in uncertain conditions is an example of A. statistics in personnel management B. statistics in finance C. statistics in marketing D. statistics in production
The procedures of descriptive statistics and control charts which are used to improve the process are classified as A. statistical tools B. parallel tools C. serial tools D. behavioral tools
The examples of variables in statistical phenomenon consists A. job satisfaction B. consumer behaviors C. leadership ability D. all of above
The scale which is used to determine the ratios equality is considered as A. satisfactory scale B. ratio scale C. goodness scale D. exponential scale
The branches of statistics includes A. applied statistics B. mathematical statistics C. industry statistics D. both a and b
The type of rating scale which represents response of respondents by marking at appropriate point is classified as A. graphic rating scale B. responsive scale C. pointed scale D. marking scale
The time frame to complete a transaction in bank is classified as A. parameters B. process C. mixer D. sampler
The branch of statistics in which the data is collected according to ordinal scale or nominal scale is classified as A. distribution statistics B. sampling statistics C. parametric statistics D. non-parametric statistics
One of the category of the statistical method is A. managerial statistics B. decision science C. inferential statistics D. industry statistics
The tools such decision making by nominal groups, brain storming and term buildings are all considered as A. serial tools B. behavioral tools C. statistical tools D. parallel tools
The type of variable which can take any numerical figure for calculation is classified as A. continuous variable B. measuring variable C. flowchart variable D. discrete variable
The branch of statistics which deals with development of particular statistical methods is classified as A. industry statistics B. economic statistics C. applied statistics D. mathematical statistics
The process of converting inputs into outputs in the presence of repeatedly same conditions is classified as A. sampler B. parameters C. process D. mixer
The analytical study of relationship between output commodity and its price is classified as A. demand analysis B. supply analysis C. imports analysis D. export analysis
The question which have different answers for its subparts is considered as A. double barreled questions B. single barreled questions C. multiple barreled questions D. dichotomous questions
The data which is generated within the company such as routine business activities is classified as A. external primary data sources B. internal primary data sources C. external secondary data sources D. internal secondary data sources
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