Tag: economics

Quizzes (361) Questions (3598)

Questions Related to economics

Multiple choice economics introduction to statistical method and econometrics introduction to statistics partition values frequency distribution tables and graphs

_______ are sets of mathematical equations that are used to analyze what is happening in the world around us.

  1. Mensuration

  2. Survey

  3. Set theory

  4. Statistics
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statistics are sets of mathematical equations that are used to analyze what is happening in the world around us.

Multiple choice economics introduction to statistical method and econometrics introduction to statistics partition values frequency distribution tables and graphs

Statistics is the branch of mathematics that deals with the collection, organization, analysis, and interpretation of numerical ____.

  1. variables

  2. constant

  3. functions

  4. data
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statistics is the branch of mathematics that deals with the collection, organization, analysis, and interpretation of numerical data.

Multiple choice economics introduction to statistical method and econometrics introduction to statistics partition values frequency distribution tables and graphs

________ helps in presenting complex data in a suitable tabular, diagrammatic and graphic form for an easy and clear comprehension of the data.

  1. Mensuration

  2. Statistics

  3. Set theory

  4. Survey
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Statistics helps in presenting complex data in a suitable tabular, diagrammatic and graphic form for an easy and clear comprehension of the data.

Multiple choice economics introduction to statistical method and econometrics introduction to statistics partition values frequency distribution tables and graphs

A contractor employed 18 labourers at Rs 12 per day 10 labourers at Rs 13.50 per day 5 labourers at Rs 25 per day and 2 labourers at Rs 42 per day The average wage of a labourer per day is

  1. Rs 16

  2. Rs 20

  3. Rs 24

  4. Rs 28
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Total wages paid by contractor to 18 laborers Rs 12 per day =$18\times 12=216 Rs

And total wages paid by contractor to 10 laborers Rs 13.50 per day =$10\times 13.5=135 Rs
And total wages paid by contractor to 5 laborers Rs 25 per day =$5\times 25=125 Rs
And total wages paid by contractor to 2 laborers Rs 42 per day =$2\times 42=84 Rs
Then total wages paid by contractor to all laborers=216+135+125+84=560 Rs
And total  laborers=18+10+5+2=35
Then average wages =$\frac{560}{35}=16 $ Rs  

Multiple choice economics introduction to statistical method and econometrics introduction to statistics partition values frequency distribution tables and graphs

Bankers use ______ approaches to estimate the number of people who will be making deposits compared to the number of people requesting loans.

  1. manipulative

  2. statistical

  3. arithmetic

  4. data analytic
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Bankers use statistical approaches to estimate the number of people who will be making deposits compared to the number of people requesting loans.

Multiple choice economics introduction to statistical method and econometrics introduction to statistics partition values frequency distribution tables and graphs

Number of students in your class is an example of ______.

  1. statistics

  2. mean

  3. mode

  4. median
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Statistics is the collection of methods used in planning an experiment and analyzing data in order to draw accurate conclusions.
So, the number of students in your class is an example of statistics.

Multiple choice economics introduction to statistical method and econometrics introduction to statistics partition values frequency distribution tables and graphs

Which one of the following is not correct ?

  1. Statistics is liable to be misused

  2. The data collected by the investigator to be used by himself are called primary data

  3. Statistical laws are exact

  4. Statistics do not take into account of individual cases
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Answer:- C) Statistical laws are exact.

Reason:-
The statistical laws are based on probability. Using probability we can only estimate the answer, it will not be accurate.
So statistical laws are not exact.

Multiple choice economics introduction to statistical method and econometrics introduction to statistics partition values frequency distribution tables and graphs

_____ deals with collection, organization and interpretation of data.

  1. Probability

  2. Statistics

  3. Both

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

Answer:- B) Statistics

Explanation:-
Statistics deals with data moreover with its collection, organising it in a proper form and using it to analyze given situation i.e. interpretation.