Tag: economics

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Questions Related to economics

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

A candidate who gets $20$% marks in an examination fails by $30$ marks but another candidate who gets $32$% gets $42$ marks more than the pass mark. Then, the percentage of pass mark is

  1. $52$
  2. $50$
  3. $33$
  4. $25$
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Let the total marks be $x$.
According to the question,
$\dfrac {20}{100}\times x + 30 = \dfrac {32}{100} \times x - 42$
$42 + 30 = \dfrac {32}{100}x - \dfrac {20}{100}x$
$72\times 100 = 12x \Rightarrow x = 600$
Passing marks $= \dfrac {20}{100}x + 30 = \dfrac {20}{100}\times 600 + 30 = 150$
Required percentage $= \dfrac {150}{600}\times 100 = 25$%.

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

By the $18^{th}$ century, the term ______ designated the systematic collection of demographic and economic data by states.

  1. statistics

  2. probability

  3. mensuration

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

By the $18^{th}$ century, the term statistics designated the systematic collection of demographic and economic data by states.

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

At the beginning of the $20^{th}$ century, who developed the methods for decision making based on small set of data?

  1. Gottfried Achenwall

  2. William S Gosset

  3. W. Hooper

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

At the beginning of the $20^{th}$ century, William S Gosset has developed the methods for decision making based on small set of data.he has developed t-distribution theory.

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

Since the population size is always larger than the sample size, then the sample statistic -

  1. Can never be larger than the population parameter

  2. Can never be equal to the population parameter

  3. Can never be zero

  4. Can never be smaller than the population parameter

  5. None of the above answers is correct.
Reveal answer Fill a bubble to check yourself
E Correct answer
Explanation

Sample statistic will depend upon the sample chosen. 
It can be less than, greater than, equal to population parameter. 
It can assume the value of zero.
Ans-Option $E$.

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

Let $a$ and $b$, be positive real numbers. If $a,{A _1},{A _2},b$ are in $A.P$ and $a,{G _1},{G _2},b$ are in $G.P$ and $a,{H _1},{H _2},b$ are in $H.P$ ,then 
 $\frac{{{G _1}{G _2}}}{{{H _1}{H _2}}} = \frac{{{A _1} + {A _2}}}{{{H _1} + {H _2}}} = \frac{{\left( {2a + b} \right)\left( {a + 2b} \right)}}{{9ab}}$

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

This is a known identity in sequences and series. For A.P., G.P., and H.P. inserted between a and b, the given ratios are equivalent to the expression provided.

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

The difference of maximum and minimum values in a data is called 

  1. class interval

  2. range

  3. frequency

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

Suppose that we had a data $A=\left{a _1,a _2.........a _n\right}$then

$Max.A=a _k, 1\leq k\leq n$
$minA=a _j, 1\leq j\leq n$
then for every $a _i\in A$
$a _j\leq a _i \leq a _k$
So,
$a _k-a _j$ is called range of A

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

Find the correct ascending order
$7, 5, 15, 12, 10, 11, 16$

  1. $5, 7, 10, 11, 12, 15, 16$
  2. $5, 7, 10, 11, 12, 16, 15$
  3. $5, 7, 11, 10, 12, 15, 16$

  4. None of these
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
Given order is $7,5,15,12,10,11,16$.
Ascending is low to high. 
Now rearranging the series, we get
$5,7,10,11,12,15,16$