Tag: some mathematical tools used in economics

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Questions Related to some mathematical tools used in economics

Multiple choice some mathematical tools used in economics step towards making a project basic statistics for economics economics

If the period of variations is less than one year, then these are known as _______.

  1. Random variations

  2. Cyclical variations

  3. Seasonal Variations

  4. (B) or (C)
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Seasonal variations are short-term fluctuations in a time series that occur within a period of one year or less, often due to weather, holidays, or seasonal business cycles.

Multiple choice some mathematical tools used in economics step towards making a project basic statistics for economics economics

The Additive Model of a time series is expressed as :

  1. $Y _{t} = T _{t} \times C _{t} \times S _{t} \times R$
  2. $Y _{t} = T _{t} - C _{t} - S _{t} - R _{t}$
  3. $Y _{t} = T _{t} + C _{t} + S _{t} + R _{t}$
  4. $Y _{t} = T _{t}\cap C _{t} \cup S _{t} \cup R _{t}$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In the additive model of a time series, the observed value is expressed as the sum of its components: Trend (T), Cyclical (C), Seasonal (S), and Random/Irregular (R) variations.

Multiple choice some mathematical tools used in economics step towards making a project basic statistics for economics economics

If the period of variations is more than one year, then the variations are termed as __________.

  1. Random variations

  2. Cyclical variations

  3. Seasonal variations

  4. (b) or (c)
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Cyclical variations are long-term fluctuations in a time series that occur over a period longer than one year, often associated with business cycles (booms and recessions).

Multiple choice some mathematical tools used in economics step towards making a project basic statistics for economics economics

A time series may be defined as ________.

  1. A sequence of repeated measurement of variables made periodically through time

  2. A collection of readings belonging to different time period of same economic variable or composite of variables

  3. Statistical data which are collected, recorded over successive increments

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

A time series is a set of observations on the values that a variable takes at different times. All the provided definitions correctly describe different aspects of time series data.

Multiple choice some mathematical tools used in economics step towards making a project basic statistics for economics economics

A grouped frequency distribution with uncertain first or last classes is known as _________.

  1. discrete frequency distribution

  2. inclusive class distribution

  3. open end distribution

  4. exclusive class distribution
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

An open-end distribution is one where the first class interval has no lower limit (e.g., 'below 10') or the last class interval has no upper limit (e.g., 'above 50').

Multiple choice some mathematical tools used in economics step towards making a project basic statistics for economics economics

Descriptive statistics is?

  1. The number of adjectives.

  2. About where or not you can generalize from a sample.

  3. The methods used to describe the essential characteristics of the data.

  4. All of the things.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Descriptive statistics involve methods for summarizing, organizing, and describing the main features of a dataset, such as mean, median, mode, and range.

Multiple choice some mathematical tools used in economics step towards making a project basic statistics for economics economics

The class interval of the following continuous grouped data is
0-9    10-19     20-29     30-39     40-49
5           8           12           15           4

  1. 10

  2. 9

  3. 24.5

  4. none of them
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

The class interval (or class width) is the difference between the upper and lower boundaries of a class. For 0-9, 10-19, etc., the width is 10 - 0 = 10.

Multiple choice some mathematical tools used in economics step towards making a project basic statistics for economics economics

Which of the following statements containing results of India's recent Census is not correct?

  1. Kerala has about 94% literacy, the highest in India.

  2. The sex ratio in India is 940.

  3. Male literacy is lower than female literacy in seven most developed states.

  4. Uttar Pradesh is the most populous State in India.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Uttar Pradesh is indeed the most populous state in India, making the statement 'Uttar Pradesh is the most populous State in India' a correct fact, which means it is the 'not correct' answer choice in the context of the question.