Tag: business economics and quantitative methods

Questions Related to business economics and quantitative methods

"Statistics refers to the classified facts representing the conditions of the people in the State, especially those facts which can be stated in numbers or in tables of numbers or in any tabular classified arrangement".

This definition of statistics was given by _____________.

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

  1. Bowley

  2. Wappans

  3. Prof. Horace Secrist

  4. Webster

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Correct Option: D
Explanation:

According to Webster,  "Statistics refers to the classified facts representing the conditions of the people in the State, especially those facts which can be stated in numbers or in tables of numbers or in any tabular classified arrangement"

In ancient days, the word statistics was used only for facts and figures required by the state for its official use and was known as ___________.

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

  1. the science of king

  2. the science of state craft

  3. political arithmetic

  4. all of the above

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Correct Option: D
Explanation:

Statistic has been called "science of king" as in ancient times it was mainly used by kings to collect information about their kingdom and the people in it (similar to the government today). This is why its also called "political arithmetic" or "the science of state craft" as politicians may use it as a powerful tool to gain popularity among the public (by boasting about high economic growth or low unemployment and inflation rates) and thus get votes to remain in power. 

The median of the following observations is
$10, 8, -9, -12, 15, 0, 23, -3, -2, 13, -24, 28, 35, 42$

business economics and quantitative methods measures of dispersion and skewness shortcut method for calculating mean deviation about mean mean deviation about mean and median range and mean deviation

  1. $4$

  2. $-2$

  3. $7$

  4. $-9.75$

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Correct Option: A

When all the observations are same, the relation between A.M., G.M and H.M is _________.

business economics and quantitative methods measures of dispersion and skewness shortcut method for calculating mean deviation about mean mean deviation about mean and median range and mean deviation

  1. A.M. = G.M. = H.M.

  2. A.M. = G.M. > H.M.

  3. A.M. > G.M. > H.M.

  4. A.M. < G.M. < H.M.

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Correct Option: A

A frequency distribution having two modes is said to be ________.

business economics and quantitative methods measures of dispersion and skewness shortcut method for calculating mean deviation about mean mean deviation about mean and median range and mean deviation

  1. unimodal

  2. bimodal

  3. trimodal

  4. without mode

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Correct Option: B

Geometric mean of two observations can be calculated only if ________.

business economics and quantitative methods measures of dispersion and skewness shortcut method for calculating mean deviation about mean mean deviation about mean and median range and mean deviation

  1. both the observations are positive

  2. one of the two observations is zero

  3. one of them is negative

  4. both of them are zero

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Correct Option: A

For further algebraic treatment geometric mean is _______.

business economics and quantitative methods measures of dispersion and skewness shortcut method for calculating mean deviation about mean mean deviation about mean and median range and mean deviation

  1. suitable

  2. not suitable

  3. sometime suitable

  4. none of the above

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Correct Option: B

Extreme value have no effect on _______.

business economics and quantitative methods measures of dispersion and skewness shortcut method for calculating mean deviation about mean mean deviation about mean and median range and mean deviation

  1. average

  2. median

  3. geometric mean

  4. harmonic mean

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Correct Option: B

If modal value is not clear in a distribution, it can be ascertained by the method of ________.

business economics and quantitative methods measures of dispersion and skewness shortcut method for calculating mean deviation about mean mean deviation about mean and median range and mean deviation

  1. grouping

  2. guessing

  3. summarizing

  4. trial and error

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Correct Option: A

For further algebraic treatment harmonic mean is ______.

business economics and quantitative methods measures of dispersion and skewness shortcut method for calculating mean deviation about mean mean deviation about mean and median range and mean deviation

  1. suitable

  2. not suitable

  3. sometime suitable

  4. none of the above

Show answer
Correct Option: B