Tag: business economics and quantitative methods

Questions Related to business economics and quantitative methods

Mean deviation of $7,10,10,15,10,8,8,7,3,2,10$ through mean is

  1. $3.14$

  2. $8$

  3. $\dfrac {4}{5}$

  4. None of these


Correct Option: A
Explanation:

mean $=\dfrac{\sum {x _1}}{n}=\dfrac{90}{11}\approx 8.18$

derivation through mean = $|x _i-\bar x|$
& mean of it is $=\dfrac{\sum|{x _i-\bar x}|}{n}$
$=\dfrac{(1.18+1.82+1.82+6.82+8.18+0.18+0.18+1.18+5.18+6.18+1.82)}{11}$
$=\dfrac{34.54}{11}=3.14$

If a constant value $40$ is subtracted from each observation of a set, the mean of the set is __________.

  1. increased by $40$

  2. decreased by $40$

  3. is not affected

  4. zero


Correct Option: B

The second quartile of the following observations is
$10, 19, 22, 16, 15, 18, 20, 18, 14, 18, 23$.

  1. $17.55$

  2. $18$

  3. $15$

  4. $20$


Correct Option: B

If Md, Q, D and P Stands for median, quartile, decile and percentile respectively, then which of the following relation between them is true?

  1. $M _d = Q _2 = D _6 = P _50$

  2. $M _d = Q _3 = D _6 = P _75$

  3. $M _d = Q _5 = D _5 = P _50$

  4. $M _d = Q _2 = D _5 = P _50$


Correct Option: D

Which of the following relation is true between $3^{rd}$ decile and $30^{th}$ percentile?

  1. $D _7 = P _{70}$

  2. $D _7 = P _{30}$

  3. $D _3 = P _{30}$

  4. $D _3 = P _{70}$


Correct Option: C