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

Time series is an important statistical technique which is widely used by __________.

  1. business executives

  2. financial analysts

  3. economists

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

Time series analysis is a versatile tool used across many disciplines, including economics, business, and finance, to analyze trends and make forecasts.

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

Time series is an important statistical technique which is widely used by _________.

  1. Scientists

  2. Sociologists

  3. Research workers

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

Time series analysis is widely used across disciplines: Scientists use it for experimental data analysis, Sociologists study social trends over time, and Research workers in all fields analyze temporal patterns. Since all three groups use time series, option D is correct.

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

The distribution.
Values (less than)               20  25   30   35  40  45  50
Frequency is of the type     5   12    15   20  15   10   5 

  1. exclusive class type

  2. discrete type

  3. inclusive class type

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

The data provided is in a 'less than' cumulative frequency format, which is characteristic of an exclusive class type distribution where the upper limit of one class is the lower limit of the next.

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

The Multiplicative Model of a time series is expressed is :

  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
A Correct answer
Explanation

The multiplicative model assumes that the time series value is the product of its components: Trend (T), Cyclical (C), Seasonal (S), and Irregular (R) variations. This is expressed as Y = T * C * S * R.

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

Time series is an important statistical technique because of :

  1. It helps to understand the past behaviour of data and enables the users to forecast the future behaviour

  2. It enables the users to compare the actual performance with the expected performance and analyze the different causes of variation

  3. It is helpful is planning the future operations

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

Time series analysis is a versatile tool that helps in understanding past trends, forecasting future values, comparing performance, and aiding in strategic planning.

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

Statistics is essential to psychologist s because

  1. People differ a lot and in many respects.

  2. It is compulsory

  3. People's experience are much the

  4. By using statistic psychologist can calm to be the cleverest researchers
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Psychology deals with understanding human behavior and mental processes. Since people vary significantly in their characteristics, behaviors, and responses, statistical methods are essential for psychologists to quantify this variation, draw valid conclusions, and make generalizations. Option A is correct, though the grammar in option C is poor.