Tag: business economics and quantitative methods

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Questions Related to business economics and quantitative methods

Multiple choice business economics and quantitative methods ict, investigations and problem solving-1 estimating angles terms used in statistics definition, scope, importance and limitation of statistics

"Statistics is an aggregate knowledge brought together for a practical end namely the knowledge of concrete states".This definition of Statistics was given by____.

  1. Bowley

  2. Wappans

  3. Kendal

  4. Webster
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Wappans defined statistics as "Statistics is an aggregate knowledge brought together for a practical end namely the knowledge of concrete states".

Multiple choice business economics and quantitative methods ict, investigations and problem solving-1 estimating angles terms used in statistics definition, scope, importance and limitation of statistics

" By statistics, we mean quantitative data affected to a marked extent by multiplicity of causes" was stated by____.

  1. Bowley

  2. Prof.Horace Secrist

  3. Kendal

  4. Webster
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Kendall defined statistics as "By statistics, we mean quantitative data affected to a marked extent by multiplicity of causes".

Multiple choice business economics and quantitative methods ict, investigations and problem solving-1 estimating angles terms used in statistics definition, scope, importance and limitation of statistics

According to _____, " By statistics we mean aggregate of facts affected to marked extent by multiplicity of causes, numerically expressed, enumerated or estimated according to a reasonable standard of accuracy, collected in a systematic manner for a pre-determined purpose and placed in relation to each other".

  1. Bowley

  2. Prof.Horace Secrist

  3. Kendal

  4. Webster
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The definition given by Horace Secrist is “Statistics as the aggregate of facts affected to mark extent by the multiplicity of causes, numerically expressed, enumerated or estimated according to a reasonable standard of accuracy, collected in a systematic manner for the predetermined purpose and placed in relation to each other”

Multiple choice business economics and quantitative methods ict, investigations and problem solving-1 estimating angles terms used in statistics definition, scope, importance and limitation of statistics

According to _____ ," Statistics may be defined as the science of collection, presentation, analysis and interpretation of numerical data."

  1. A. L Bowley

  2. Lincon L. Chao

  3. Croxton & Cowden

  4. Selligman
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

According to, Croxton & Cowden, "Statistics may be defined as the science of collection, presentation, analysis and interpretation of numerical data."

Multiple choice business economics and quantitative methods ict, investigations and problem solving-1 estimating angles terms used in statistics definition, scope, importance and limitation of statistics

According to A.L. Bowley, Statistics may be called as________.

  1. science of counting

  2. science of averages

  3. science of economic problems

  4. A and B
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

AL Bowley defines statistics as "Statistics is numerical statement of facts in any development of enquiry placed in relation to each other"

Multiple choice business economics and quantitative methods ict, investigations and problem solving-1 estimating angles terms used in statistics definition, scope, importance and limitation of statistics

Who has given most acceptable, popular and comprehensive definition of statistics?

  1. Bowley

  2. Prof.Horace Secrist

  3. Kendal

  4. Webster
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The definition given by Horace Secrist is “Statistics as the aggregate of facts affected to mark extent by the multiplicity of causes, numerically expressed, enumerated or estimated according to a reasonable standard of accuracy, collected in a systematic manner for the predetermined purpose and placed in relation to each other”

Multiple choice business economics and quantitative methods ict, investigations and problem solving-1 estimating angles terms used in statistics definition, scope, importance and limitation of statistics

"Statistics are collection of noteworthy facts concerning state both historical and descriptive ". This definition is given by _________.

  1. Wappans

  2. Gottfried

  3. Kendal

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation
Gottfried Achenwall defined statistics as "Statistics are collection of noteworthy facts concerning state both historical and descriptive".
Multiple choice business economics and quantitative methods ict, investigations and problem solving-1 estimating angles terms used in statistics definition, scope, importance and limitation of statistics

Comparability is one of the important attributes for the numerical facts to be known as _____________.

  1. statistics

  2. data

  3. ration

  4. none of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statistics involves the collection, analysis, and interpretation of numerical data. Comparability is a fundamental attribute required to make numerical facts meaningful and useful for statistical analysis.

Multiple choice business economics and quantitative methods ict, investigations and problem solving-1 estimating angles terms used in statistics definition, scope, importance and limitation of statistics

As per the law of statistics given by king _________________.

  1. if a data is chosen randomly from a large group than that data will invariably show the characteristic of the group.

  2. the law developed by King is more accurate if applied for large group.

  3. data sample which is to be taken for a large group should be systematic so that invariably it shows the characteristic of a large group.

  4. Both A & B
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

King's law of statistics emphasizes that a sample chosen from a large group will reflect the characteristics of the group, and this law becomes more reliable as the size of the group increases.