Tag: measures of dispersion and skewness

Quizzes (4) Questions (166)

Questions Related to measures of dispersion and skewness

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, Range is the difference between _________ and __________

  1. upper limit of the highest class, the lower limit of the lowest class

  2. lower limit of the highest class, the upper limit of the lowest class

  3. A or B

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

In a frequency distribution, the range is calculated as the difference between the upper limit of the highest class interval and the lower limit of the lowest class interval.

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 middle value of an ordered series is called _______.

  1. $2nd$ quartile
  2. $5th$ decile
  3. $50th$ percentile

  4. All the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The median divides an ordered series into two equal halves. The 2nd quartile (Q2), 5th decile (D5), and 50th percentile (P50) all represent this same middle point.

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.