Tag: economics

Questions Related to economics

A time series may be defined as ________.

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

  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

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Correct Option: D

If the lower and upper limits of a class are 20 and 30 respectively, the mid point of the class is _________.

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

  1. 25.0

  2. 25.5

  3. 24.5

  4. none of them

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Correct Option: A

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

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

  1. discrete frequency distribution

  2. inclusive class distribution

  3. open end distribution

  4. exclusive class distribution

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Correct Option: C

Descriptive statistics is?

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

  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.

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Correct Option: C

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

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

  1. 10

  2. 9

  3. 24.5

  4. none of them

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Correct Option: A

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

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

  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.

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Correct Option: D

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

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

  1. finite populations.

  2. infinite populations.

  3. census method.

  4. none of the above

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Correct Option: A
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.

Examples of infinite population__________.

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

  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

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Correct Option: D
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.

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

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

  1. Both II and IV 

  2. Both Ill and IV 

  3. Both I and II

  4. Both I and Ill 

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Correct Option: C
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.

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? 

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

  1. Special Register Office at Lucknow

  2. Special Central Arbitration Bureau at Lucknow

  3. Central SARFAESI Tribunals at six centres

  4. Central Electronic Registry

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Correct Option: D