Tag: business economics and quantitative methods

Quizzes (24) Questions (932)

Questions Related to business economics and quantitative methods

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

The variate values which divide a series (frequency distribution) into $100$ equal parts are called ______.

  1. quintiles

  2. quartiles

  3. deciles

  4. percentiles
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Percentiles are values that divide a dataset into 100 equal parts, where each part represents 1% of the data.

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

Which measure is based on only the central fifty percent of the observations?

  1. Standard deviation

  2. Quartile deviation

  3. Mean deviation

  4. All of above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Quartile deviation is based on the interquartile range (Q3 - Q1), which covers the middle 50% of the observations, effectively ignoring the extreme 25% at both ends.

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

Can a quartile, a decile and a percentile be the median?

  1. Only quartile but not decile and percentile

  2. Quartile and decile but not percentile

  3. Decile and percentile but not quartile

  4. Quartile, decile and percentile, all the three
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The median is the 50th percentile, the 5th decile, and the 2nd quartile. Therefore, specific quartiles, deciles, and percentiles can indeed be the median.

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

Which of the following is true?

  1. Quartile Deviation can generally be calculated for open-ended distributions

  2. It is unduly affected by extreme values

  3. Both A and B

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Quartile deviation is calculated using only the middle 50% of the data, making it robust against extreme values at the tails, which allows it to be calculated for open-ended distributions.

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

Inter-Quartile Range is based upon ________.

  1. First 50% of the values

  2. middle 50% of the values

  3. Last 50 % of the values

  4. 25% of the values
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The interquartile range is the difference between the third quartile (Q3) and the first quartile (Q1), which encompasses the middle 50% of the data.

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

The first quartile divides a frequency distribution in the ratio _____.

  1. $4 : 1$
  2. $1 : 4$
  3. $3 : 1$
  4. $1 : 3$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The first quartile (Q1) represents the 25th percentile, meaning 25% of the data is below it and 75% is above it. The ratio of 25:75 simplifies to 1:3.

Multiple choice business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

In a frequency distribution with open ends, one cannot find out ______.

  1. mean

  2. median

  3. mode

  4. all of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The arithmetic mean requires the exact values of all observations. In open-ended distributions, the exact values of the first or last classes are unknown, making the mean impossible to calculate.