Tag: economics

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Questions Related to economics

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

A numerical value used as a summary measure for a sample, such as sample mean, is known as a:

  1. population parameter

  2. sample parameter

  3. sample statistic

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

If it pertains to sample it is called a statistic, if it pertains to the population it is called a parameter.
Ans-Option $C$.

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

Find the correct descending order
$9.1, 3.7, 5.6, 8.3, 11.5, 10.6$

  1. $8.3,11.5, 10.6, 9.1, 5.6, 3.7$
  2. $11.5, 10.6, 9.1, 8.3, 5.6, 3.7$
  3. $11.5, 10.6, 9.1, 8.3, 3.7, 5.6$

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

Given series is $9.1, 3.7, 5.6, 8.3, 11.5, 10.6$

Descending means high to low.
Therefore, descending order of the given series is $11.5, 10.6, 9.1, 8.3, 5.6, 3.7$.

Multiple choice economics partition values introduction to statistics introduction to statistical method and econometrics frequency distribution tables and graphs
Find the correct ascending order of $6.3, 5.9, 9.8, 12.3, 5.6, 4.7$.
  1. $4.7, 5.6,6.3,5.9. 9.8, 12.3$
  2. $4.7, 5.6, 5.9, 6.3, 12.3, 9.8$
  3. $4.7, 5.6, 5.9, 6.3, 9.8, 12.3$

  4. None of these
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation
Given order is $6.3, 5.9, 9.8, 12.3, 5.6, 4.7$.
Ascending means low to high. 
Therefore, rearranging the given series again, we get $4.7, 5.6, 5.9, 6.3, 9.8, 12.3$
Multiple choice economics partition values introduction to statistics introduction to statistical method and econometrics frequency distribution tables and graphs

Find the correct descending order
$2, 0, 3, 4, 1, 2, 3, 5$

  1. $5, 4, 3, 2,3, 2, 1, 0$
  2. $5, 4, 3, 3, 2, 2, 1, 0$
  3. $4,5, 3, 3, 2, 2, 1, 0$
  4. $5, 4, 3, 3, 2, 2, 0,1$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation
Given, series is $2,0,3,4,1,2,3,5$
Descending means high to low.
Therefore, the descending order is $5,4,3,3,2,2,1,0$.
Multiple choice economics partition values introduction to statistics introduction to statistical method and econometrics 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

(A) Statistics is liable to be misused is wrong 

(B) the data collected by the investigator to be used simself are called primary data wrong
(C) Statistical laws are extract is correct
(D) statistics do not take into account of individual cases is wrong 
Then is the correct answer.

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

Which of the following represents statistical data?

  1. The names of owners of shops located in a shopping complex

  2. A list giving the names of all states of India

  3. A list of all European countries and their respective capital cities

  4. The volume of rainfall in a certain geographical area recorded every month for 24 consecutive months
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statistical data refers to quantitative information collected for analysis. Rainfall volume recorded over time is numerical data, whereas lists of names or cities are qualitative or categorical lists.

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

Who introduced the first book of statistics in its title "Contribution to Vital Statistics"?

  1. Gottfried Achenwall

  2. Francis G.P. Neison

  3. Sir John Sinclair

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

Francis GP Neison introduced the first book of statistics in its title 'Contribution to Vital Statistics'.

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

Which question can be answered by writing a numeral?

  1. What is your age?

  2. What is your father's name?

  3. What is your education?

  4. What is your ambition?
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Numeral means numeric characters have to be involved. Numeric characters are numbers ranging from 0-1 and combinations between them.

Age has to contain a number,hence it is a numeral.
Name, education and ambition contain letters that is A to z and not numerals.
Hence only age can be answered by writing a numeral.