Tag: economics

Questions Related to economics

State whether the following statement is true or false.
Lottery method is an example of random sampling.

  1. True

  2. False


Correct Option: A

State whether the following statement is true or false.
Secondary data is original data.

  1. True

  2. False


Correct Option: B

If P(A)3/8, P(B)5/8, and P(A \ B)3/4, find P(B/A).

  1. 2/5

  2. 3/5

  3. 2/3

  4. 4/5


Correct Option: C

State whether the following statement is true or false.
Statistics deals with the interpretation of data.

  1. True

  2. False


Correct Option: A

_______ is a point of reference in comparing various data describing individual behaviour.

  1. Sample

  2. Base period

  3. Estimation

  4. None of above


Correct Option: B

In a grouped data, the number of classes preferred are __________.

  1. maximum possible

  2. adequate

  3. minimum possible

  4. any arbitrarily chosen numbers


Correct Option: B

What is the objective of analysis of any time series?

  1. To study of past behaviour of data

  2. To forecast for future

  3. Both (A) and (B)

  4. None of above


Correct Option: C

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)


Correct Option: C

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. $Y _{t} = T _{t}\cap C _{t} \cup S _{t} \cup R _{t}$


Correct Option: C

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)


Correct Option: B