Tag: business mathematics and statistics

Quizzes (14) Questions (285)

Questions Related to business mathematics and statistics

Multiple choice business mathematics and statistics random variable and mathematical expectation discrete and continuous data random variable random variable and its types

State, which of the following variables are continuous and which are discrete :


Daily temperature of a city is continuous
If true then enter $1$ and if false then enter $0$

  1. Can't determine
  2. $0$
  3. $1$

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

Temperature of a city can have any value including integers and rational numbers. Hence, it is a continuous variable.

Multiple choice business mathematics and statistics random variable and mathematical expectation discrete and continuous data random variable random variable and its types

State, which of the following variables are continuous and which are discrete :

Marks scored in a text is discrete
If true then enter $1$ and if false then enter $0$

  1. $1$
  2. $0$

  3. Can't determine

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

Marks scored in a test can have have only integer value. Hence, it is a discrete variable.

Multiple choice business mathematics and statistics random variable and mathematical expectation discrete and continuous data random variable random variable and its types

Daily temperature is continuous variable.

If true then enter $1$ and if false then enter $0$

  1. $1$
  2. $0$

  3. Can't determine

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

A continuous variable can take any value within a given range, including decimals. Temperature can be measured to arbitrary precision, making it a continuous variable.

Multiple choice business mathematics and statistics introduction to index number introduction to index numbers index numbers applied statistics

Index for base period is always taken as: 

  1. $100$
  2. $1$
  3. $200$
  4. $0$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

$\Rightarrow$  Index for base period is always taken as : $100$.

$\Rightarrow$  A base year is the first of a series of years in an economic or financial index. It is typically set to an arbitrary level of 100. 
$\Rightarrow$  New, up-to-date base years are periodically introduced to keep data current in a particular index. 
$\Rightarrow$  Any year can serve as a base year, but analysts typically choose recent years.

Multiple choice business mathematics and statistics introduction to index number introduction to index numbers index numbers applied statistics

Price relatives are a percentage ratio of current year price and:

  1. Base year quantity

  2. Previous year quantity

  3. Base year price

  4. Current year quantity
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

$\Rightarrow$  Price relatives are a percentage ratio of current year price and $Base\, year\, price$.

$\Rightarrow$  Thus, $Price\, relative=\dfrac{P _1}{P _0}\times 100,$ where $P _0$ is the price in the base year and $P _1$ of corresponding commodity in present year (for which index is to be calculated)