Tag: economics

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Questions Related to economics

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

A time series may be defined as ________.

  1. A sequence of repeated measurement of variables made periodically through time

  2. A collection of readings belonging to different time period of same economic variable or composite of variables

  3. Statistical data which are collected, recorded over successive increments

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

A time series is a set of observations on the values that a variable takes at different times. All the provided definitions correctly describe different aspects of time series data.

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

A grouped frequency distribution with uncertain first or last classes is known as _________.

  1. discrete frequency distribution

  2. inclusive class distribution

  3. open end distribution

  4. exclusive class distribution
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

An open-end distribution is one where the first class interval has no lower limit (e.g., 'below 10') or the last class interval has no upper limit (e.g., 'above 50').

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

Descriptive statistics is?

  1. The number of adjectives.

  2. About where or not you can generalize from a sample.

  3. The methods used to describe the essential characteristics of the data.

  4. All of the things.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Descriptive statistics involve methods for summarizing, organizing, and describing the main features of a dataset, such as mean, median, mode, and range.

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

The class interval of the following continuous grouped data is
0-9    10-19     20-29     30-39     40-49
5           8           12           15           4

  1. 10

  2. 9

  3. 24.5

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

The class interval (or class width) is the difference between the upper and lower boundaries of a class. For 0-9, 10-19, etc., the width is 10 - 0 = 10.

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

Which of the following statements containing results of India's recent Census is not correct?

  1. Kerala has about 94% literacy, the highest in India.

  2. The sex ratio in India is 940.

  3. Male literacy is lower than female literacy in seven most developed states.

  4. Uttar Pradesh is the most populous State in India.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Uttar Pradesh is indeed the most populous state in India, making the statement 'Uttar Pradesh is the most populous State in India' a correct fact, which means it is the 'not correct' answer choice in the context of the question.

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

Population that are limited in size are referred to as __________.

  1. finite populations.

  2. infinite populations.

  3. census method.

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

Population refers to the whole group of objects or individuals present for the purpose of collecting data. Population can be finite i.e. it can be easily calculated for example: Number of students in a classroom.

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

Examples of infinite population__________.

  1. the stars in the sky and the cars in a town

  2. the stars in the sky and the books in a library

  3. the cars in a town and the books in a library

  4. output from a machine and births of insect
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Infinite population refers to the population that cannot be calculated easily i.e. they are unlimited in size. Example : births of insect, as one cannot calculate the birth of insects easily.

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

Which of the following are important laws on which sampling is based?
I. Law of statistical regularity
II. Law of Inertia of large numbers
Ill. Law of Inertia of small numbers
IV. Law of Statistical irregularity

  1. Both II and IV

  2. Both Ill and IV

  3. Both I and II

  4. Both I and Ill

Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Sampling is based basically on two laws i.e. law of statistical regularity which states that data can be collected easily and that ensures regularity and also law of inertia of large numbers as sampling can be done with the small section of population.

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

To prevent frauds in multiple mortgage cases, under SARFAESI Act, 2002, one special thing has been created and made operative from 01-04-2011. Which one is that from the following? 

  1. Special Register Office at Lucknow

  2. Special Central Arbitration Bureau at Lucknow

  3. Central SARFAESI Tribunals at six centres

  4. Central Electronic Registry
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The Central Electronic Registry (CERSAI) was established under the SARFAESI Act to maintain records of security interests created over property to prevent multiple mortgage frauds.