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 correlation analysis aspects of correlation scatter graphs and correlation linear regression

F-test is used to test the significance of the differences between ______________.

  1. co-efficient of correlation between two sample groups

  2. co-efficient of correlation among more than two sample groups

  3. average between two sample groups

  4. averages of more than two sample groups
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The F-test (ANOVA, or Analysis of Variance) is a statistical test used to determine whether there are any statistically significant differences between the means of three or more independent sample groups. For two groups, a t-test is typically used.

Multiple choice business economics and quantitative methods correlation analysis aspects of correlation scatter graphs and correlation linear regression

Match the following items in List - I with most suitable options in List - II:

List-I List-II
(a) Fisher 1. Inverse probability
(b) Karl Pearson 2. Normal Distribution
(c) Thomas Baye's 3. Correlation Coefficient
(d) Karl Gauss 4. Index Numbers
  1. $(a) - 4, (b) - 3, (c) - 2, (d) - 1$
  2. $(a) - 4, (b) - 3, (c) - 1, (d) - 2$
  3. $(a) - 4, (b) - 2, (c) - 3, (d) - 1$
  4. $(a) - 4, (b) - 2, (c) - 1, (d) - 3$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Fisher is associated with Index Numbers (in some contexts), Karl Pearson with Correlation Coefficient, Thomas Bayes with Inverse Probability, and Karl Gauss with Normal Distribution.

Multiple choice business economics and quantitative methods correlation analysis aspects of correlation scatter graphs and correlation linear regression

__________  gives a precise numerical value of the degree of linear relationship between two variables X and Y.

  1. Scatter diagram

  2. Spearmans coefficient of correlation

  3. Karl Pearsons Coefficient of Correlation

  4. None
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Karl Pearson's coefficient of correlation provides a precise numerical value between -1 and 1 to indicate the strength and direction of a linear relationship.

Multiple choice business economics and quantitative methods measures of dispersion and skewness shortcut method to find variance and standard deviation variance and standard deviation measures of dispersion

Lowest value of variance can be:

  1. $1$
  2. $-1$
  3. $0$

  4. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
We know that $Var(x)=E(X^2)-(E(x))^2$

Variance is non-negative because the squares are positive or zero.

Therefore, $Var(X)\geq 0$

Hence, the lowest value of variance is $zero$
Multiple choice business economics and quantitative methods measures of dispersion and skewness shortcut method to find variance and standard deviation variance and standard deviation measures of dispersion

What is the standard deviation of $7,9,11,13,15$?

  1. $2.4$
  2. $2.5$
  3. $2.7$
  4. $2.8$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Given numbers are $ 7,9,11,13,15$
Mean of given numbers $=\dfrac { 7+9+11+13+15 }{ 5 } =11$
Standard deviation$=\dfrac { |7-11|+|9-11|+|11-11|+|13-11|+|15-11| }{ 5 } =2.4$
Option A is true

Multiple choice business economics and quantitative methods measures of dispersion and skewness shortcut method to find variance and standard deviation variance and standard deviation measures of dispersion

__________ is the positive square root of the mean of squared deviations from mean. 

  1. Mean Deviation

  2. Standard Deviation

  3. Quartile Deviation

  4. None of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Standard deviation is defined mathematically as the square root of the variance, which is the mean of the squared deviations from the arithmetic mean.

Multiple choice business economics and quantitative methods measures of dispersion and skewness shortcut method to find variance and standard deviation variance and standard deviation measures of dispersion

Which of the following are Methods of calculating Standard Deviation?

  1. Actual Mean Method

  2. Assumed Mean Method

  3. Step-Deviation Method

  4. All of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Standard deviation can be calculated using the actual mean method, the assumed mean method, or the step-deviation method.

Multiple choice business economics and quantitative methods measures of dispersion and skewness shortcut method to find variance and standard deviation variance and standard deviation measures of dispersion

Which of the following is true?

  1. Standard Deviation is not affected by the value of the constant from which deviations are calculated.

  2. The value of the constant does not figure in the standard deviation formula

  3. Standard Deviation is Independent of Origin.

  4. All of these
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Standard deviation is independent of the change of origin (adding or subtracting a constant from all values does not change the spread).