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Business Statistics MCQs 1st Edition Arshad Iqbal - Solutions

The type of variable which can take fixed integer values is classified as A. flowchart variable B. discrete variable C. continuous variable D. measuring variables
The government and non-government publications are considered as A. external secondary data sources B. internal secondary data sources C. external primary data sources D. internal primary data sources
The type of rating scale which allows respondents to choose most relevant option out of other stated options is classified as A. marking rating scale B. graphical rating scale C. itemized rating scale D. pointed rating scale
The scale which categorize the events in collectively exhaustive manner and mutually exclusive manner is classified as A. discrete scale B. continuous scale C. valid scale D. nominal scale
In every phenomenon, the process of thought that focus on identifying, controlling and reduction of variations in data is classified as A. parallel thinking B. serial thinking C. statistical thinking D. managerial thinking
The reports on quality control, production and financial accounts issued by the companies are considered as A. external secondary data sources B. internal secondary data sources C. external primary data sources D. internal primary data sources
The branch of statistics which considers the ratio scale and interval scale is considered as A. parametric statistics B. non-parametric statistics C. distribution statistics D. sampling statistics
The measure of how well is a technique, concept or process is considered as A. continuity of variables B. goodness of variables C. validity D. reliability
The numerical methods and graphical methods are specialized procedures used in A. social statistics B. business statistics C. descriptive statistics D. education statistics
The technique used to analyze unemployment rate, inflation rate anticipation and capacity utilization to manufacture goods is classified as A. data supplying technique B. forecasting technique C. data importing technique D. data exporting technique
The variables whose measurement is done in terms such as weight, height and length are classified as A. continuous variables B. measuring variables C. flowchart variables D. discrete variables
The focus groups, individual respondents and panels of respondents are classified as A. pointed data sources B. itemized data sources C. secondary data sources D. primary data sources
The analysis of labor turnover rates, performance appraisal, training programs and planning of incentives are examples of role of A. statistics in personnel management B. statistics in finance C. statistics in marketing D. statistics in production
If the occurrence of one event affects or explains the occurrence of other event then the events are classified as A. known events B. unknown events C. independent events D. dependent events
If the factory has four machines, machines will be completely depreciated in next year and the chances of failure of all machines respectively are 0.24, 0.45, 0.35, 0.38 then the probability of failure of all machines before next year is A. 0.355 B. 0.148 C. 0.158 D. 0.168
If the occurrence of one event does not affects or explains the occurrence of other event then the events are classified as A. independent events B. dependent events C. known events D. unknown events
If the occurrence of a statistical event A does not affect the occurrence of event B and vice versa then these events are classified as A. statistically dependent events B. descriptive unaffected events C. statistically independent events D. statistically unaffected events
The type of probability approach in which the event A is the ratio explaining the number of times event A is occurred in experiments is classified as A. counted probability distribution B. relative frequency approach C. irrelative frequency approach D. fixed probability distribution
The sample space for the experiment in which two coins are tossed is A. 4 B. 8 C. 2 D. 10
The number of favorable occurrences are divided by the total number of possible occurrences to calculate A. probability of an event B. total outcomes of an event C. sample space of experiment D. none of the above
Considering the events Y and Z, the occurrence of Z and the nonoccurrence of Y is represented by A. Y-bar union Z B. Z-bar union Y C. Y-bar intersection Z D. Z-bar intersection Y
If two events G and H are classified as joint events then the events are represented as A. G * H B. G + H C. G intersection H D. G union H
The payments received by cheques or cash is an example of A. numerical outcome B. non numerical outcome C. random outcome D. simple outcome
If the number of outcomes in collection are 2 and the distinct outcomes are 4 then the count value according to permutations is A. 2 B. 12 C. 24 D. 4
If in an experiment the A and B are two events, then the occurrence of event A or B simultaneously is represented by A. A intersection B B. A + B C. A - B D. A union B
The conditional probability of two events Y and Z written as P(Z|Y) = P(Y and Z) ⁄ P(A) shows that the events are A. statistically dependent events B. descriptive unaffected events C. statistically independent events D. statistically unaffected events
The previous probabilities in Bayes Theorem that are changed with the help of new available information are classified as A. independent probabilities B. posterior probabilities C. interior probabilities D. dependent probabilities
Considering the events Y and Z, the non-occurrence of event Z and the occurrence of event Y is represented by A. Y-bar union Z B. Y union Z-bar C. Y-bar intersection Z D. Y intersection Z-bar
If in an experiment the A and B are two events, then the occurrence of event B or event A or occurrence of both is represented by A. A - B B. A union B C. A intersection B D. A + B
The method of counting the outcomes in which the number of outcomes are determined without prior listing is classified as A. single experiments B. multiple experiments C. zero experiments D. unlisted experiments
The probability of the event A that does not occur in experiment is equal to A. 1 - P(A)B. 1 + P(A)C. 1 × P(A)D. 2 - P(A)
The conditional probability of two independent events Y and Z can be written as A. P(Y - Z)B. P(Y * Z)C. P(Y|Z)D. P(Y + Z)
If a luggage bag contains two types of shirts, 40 percent are dress shirts, 45 percent are T-shirts and 30 percent are blue jeans then the probability of selecting a dress shirt in random sample is A. 0.47 B. 0.4 C. 0.35 D. 0.3
If a coin is tossed one time then the probability of occurrence of heads is A. 1⁄2 B. 1⁄1 C. 2⁄1 D. 2⁄2
The events in which some points of sample are common are considered as A. divisional events B. overlapping events C. common events D. additive events
The approach in probability in which all outcomes from an experiment are equally likely to occur or are mutually exclusive is called A. durable approach B. permanent approach C. temporary approach D. classical approach
In probability theories, the collection of all the events possible outcomes from an experiment is classified as A. mutually exclusive events B. collectively exhaustive events C. collectively exclusive events D. mutually exhaustive events
If the number of outcomes in collection are 5 and the distinct outcomes are 9 then the count value according to combinations method is A. 4 B. 9 C. 126 D. 45
For the mutually exclusive events, the formula of calculating probability as n(A) ⁄ n(S) + n(B) ⁄ n(S) is used for A. rule of marginal count B. rule of comparison C. rule of addition D. rule of division
The measure of chance of an uncertain event in the form of numerical figures is classified as A. probability B. variability C. durability D. likelihood
If the probability of an event depends on repetitive observations that occurs in outcomes of experiment then this is classified as A. fixed probability B. non-relative probability C. empirical probability D. relative probability
In a Venn diagram used to represent probabilities, the occurred events are represented by A. circle B. rectangle C. square D. triangle
The event such as equal chance of heads or tails while tossing the coin is an example of A. numerical events B. equally likely events C. unequal events D. non-numerical events
The probability of the events must lie in the limits of A. one to two B. two to three C. one to two D. zero to one
The method in which the previously calculated probabilities are revised with new probabilities is classified as A. updating theorem B. revised theorem C. Bayes theorem D. dependency theorem
If a bag contains three fruits, 16 percent are apples, 30 percent are oranges and 20 percent some other fruit that is neither oranges nor apples then the probability of selecting an orange randomly is A. 0.3 B. 0.45 C. 0.65 D. 0.034
The occurrence of two events in a way that events have some connection in between is classified as A. compound events B. mutual events C. connected events D. interlinked events
In measuring the probability of any certain event, the one which is in the limit of probability represents A. certain event B. sample event C. impossible events D. possible events
The difference between sample space and subset of sample space is considered as A. numerical complementary events B. equal compulsory events C. complementary events D. compulsory events
If a brown sack consists of 4 white balls and 3 black balls then the probability of one randomly drawn ball will be white is A. 4 ⁄ 7 B. 1 ⁄7 C. 4 ⁄ 4 D. 4 ⁄ 3
In probability theory, the events are denoted by A. Greek letters B. capital letters C. small letters D. Latin letters
Considering the combination rule of counting the outcome, the value of 5! Is A. 5 B. 120 C. 24 D. 20
For two events, the probability of occurrence of both events at same time or occurrence in series is classified as A. joint probability B. dependent probability C. series probability D. conditional probability
The important rules in computation of experimental outcomes includes A. multiple experiments B. permutations C. combinations D. all of above
The outcome of experiment which can be broken into more convenient list of outcomes is called A. alpha event B. gamma event C. simple event D. random event
The method of counting the outcomes in which the number of outcomes are determined without taking care of the arrangement order is classified as A. listed combinations B. union combinations C. intersection combination D. unlisted combinations
The method of counting the outcomes in which the number of outcomes are determined while considering the ordering is classified as A. intersection combinations B. union combinations C. listed combination D. permutations
Consider an event B, the non-occurrence of event B is represented by A. union of A B. complement of A C. intersection of A D. A is equal to zero
The marginal probability of independent events and dependent events must be A. same B. different C. one D. two
In a Venn diagram used to represent probabilities, the sample space of events is represented by A. square B. triangle C. circle D. rectangle
The joint probability of two statistical dependent events Y and Z can be written as P(Y and Z) =A. P(Z + Y) * P(Y|Z)B. P(Y) * P(Z|Y)C. P(Y) * P(Z|Y) + P(Z)D. P(Y) * P(Z|Y) - P(Z + Y)
The probability without any conditions of occurrence of an event is considered as A. conditional probability B. marginal probability C. non conditional probability D. occurrence probability
The types of probabilities for independent events must includes A. joint events B. marginal events C. conditional events D. all of above
For a random experiment, all the possible outcomes are called A. numerical space B. event space C. sample space D. both b and c
The outcomes of an experiment are classified as A. logged events B. exponential results C. results D. events
According to combination rule, if the total number of outcomes are'r' and distinct outcome collection is 'n' then combinations are calculated as A. n! ⁄ r!(n - r)!B. n! ⁄ r!(n + r)!C. r! ⁄ n!(n - r)!D. r! ⁄ n!(n + r)!
If a person buys a lottery, the chance of winning a Toyota car is 60%, the chance of winning Hyundai car is 70% and the chance of winning both is 40% then chance of winning Toyota or Hyundai is A. 0.6 B. 0.9 C. 0.8 D. 0.5
If two events X and Y are considered as partially overlapping events then the rule of addition can be written as A. P(X or Y) = P(X) - P(Y) + P(X and Y)B. P(X or Y) = P(X) + P(Y) * P(X - Y)C. P(X or Y) = P(X) * P(Y) + P(X - Y)D. P(X or Y) = P(X) + P(Y) - P(X and Y)
The variation in which outcomes of experiments are effected by uncontrolled factors is considered as A. random variation B. mesokurtic variation C. platykurtic variation D. mesokurtic variation
The number of individuals arriving at boarding counter on an airport is an example of A. numerical outcome B. non numerical outcome C. random outcome D. simple outcome
In measuring the probability of any certain event, the zero represents A. impossible events B. possible events C. certain event D. sample event
Consider two events X and Y, the X-bar and Y-bar represents A. occurrence of Y B. occurrence of X C. non-occurrence of X and Y D. occurrence of X and Y
The joint probability of the independent events J and K is equal to A. P(J) * P(K)B. P(J) + P(K)C. P(J) * P(K) + P(J-K)D. P(J) * P(K) - P(J * K)
In probability theories, the events which can never occur together are classified as A. collectively exclusive events B. mutually exhaustive events C. mutually exclusive events D. collectively exhaustive events
The probability which is based on the self-beliefs of the persons involved in the experiment is classified as A. subjective approach B. objective approach C. intuitive approach D. sample approach
The probability of second event in the situation if the first event has been occurred is classified as A. series probability B. conditional probability C. joint probability D. dependent probability
The way of getting information from measuring the observation whose outcomes occurrence is on chance is called A. beta experiment B. random experiment C. alpha experiment D. gamma experiment
The largest numerical value is 45 and smallest numerical value is 25 and the classes desired are 4 then width of class interval is A. 45 B. 65 C. 5 D. 17.5
The complex type of table in which the variables to be studied are subdivided with interrelated characteristics is called as A. two way table B. one way table C. subparts of table D. order level table
If in the bar diagram the characteristics variable to be measured is written on horizontal axis and frequencies are written on vertical axis then the graph is for A. grouped data B. ungrouped data C. dimensional data D. non dimensional data
The second step in constructing the frequency distribution is to A. determine class limits B. determine midpoints of classes C. select appropriate class intervals D. determine width of class intervals
The simple classification and manifold classification are types of A. qualitative classification B. quantitative classification C. open end classification D. time series classification
The type of bar chart that is used to present deficit in loss, excess in exports and deficit in imports is classified as A. ungrouped bar charts B. grouped bar charts C. deviation bar charts D. dimension bar charts
The cumulative frequency distribution which is 'greater than' type is correspondent to A. upper limit of range B. lower limit of range C. upper limit of class intervals D. lower limit of class intervals
The type of classification in which class is subdivided into subclasses and one attribute is assigned for statistical study is considered as A. rational classification B. reflected classification C. simple classification D. manifold classification
The graphical diagram in which total number of observations are represented in percentages rather than absolute values is classified as A. asymmetrical diagram B. ungrouped diagram C. grouped diagram D. pie diagram
The sub-divided bar charts are considered best to be used if the information is presented in A. negative values B. ratios or percentages C. mean deviations D. positive values
The 'less than type' cumulative frequency distribution is considered as correspondent to A. upper limit of class intervals B. lower limit of class intervals C. upper limit of range D. lower limit of range
If the midpoints of bars on the charts are marked and marked dots are joined by a straight line then this graph is classified as A. class interval polygon B. paired polygon C. marked polygon D. frequency polygon
The curve of cumulative frequency is also known as A. Ogive B. A-give C. C-give D. B-give
The distribution which requires inclusion of open ended classes is considered as A. inclusive distribution B. midpoint distribution C. close ended distribution D. open ended distribution
The first step in constructing the frequency distribution is to A. select appropriate class intervals B. determine class intervals C. determine class limits D. determine midpoints of classes
The class interval classification method which ensures the data continuity is classified as A. midpoint method B. ratio method C. exclusive method D. inclusive method
The stem and leaf displaying technique is used to present data in A. descriptive data analysis B. exploratory data analysis C. nominal data analysis D. ordinal data analysis
In the graphical representation of data, the ideographs are also called as A. picto-graph B. pictograms C. symmetry graph D. asymmetry graphs
The largest numerical value is 85 and smallest numerical value is 65 and the classes desired are 8 then width of class interval is A. 18.75 B. 14.75 C. 13.75 D. 2.5
The record of daily shipment is 34, 35, 41, 30, 55, 45, 30, 34, 32, 52, 42, 40, 60, 36, 38, 48, 56, 53, 34, 33, 32, 41, 55, 59, 34, 51, 54, 53, 36, then the range of values to calculate class interval is A. 90 B. 30 C. 2 D. 1800
If each value of frequency distribution is divided by total number of recorded observations in distribution then the resultant value is called A. interval frequency distribution B. percentage frequency distribution C. nominal frequency distribution D. ordinal frequency distribution
The table in which the data represented is extracted from some other data table is classified as A. classification tables B. cumulative tables C. derived table D. dispersion tables
The type of table in which study variables provides large number of information with interrelated characteristics is classified as A. lower order table B. manifold table C. higher order table D. both b and c

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