Tag: economics

Quizzes (361) Questions (3598)

Questions Related to economics

Multiple choice economics measures of dispersion coefficient of variance variance and standard deviation statistics and probability range and mean deviation

The measure of dispersion is

  1. Mean deviation

  2. S.D.

  3. quartile deviation

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

Measures of dispersion include:
1)Sample standard deviation
2)Interquartile range (IQR) or Interdecile range
3)Range
4)Mean difference
5)Median absolute deviation (MAD)
6)Average absolute deviation (or simply called average deviation)
7)Distance standard deviation

Multiple choice economics measures of dispersion coefficient of variance variance and standard deviation statistics and probability range and mean deviation

Which one is correct?
Statement 1:Positional measure of dispersion describes about the position that a particular data value has within a data set.
Statement 2:Quartiles and percentiles are positional measure of dispersion.

  1. $1$ only
  2. $2$ only
  3. $1$ and $2$ both
  4. Neither $1$ nor $2$
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Statement 1: is correct because positional measure of dispersion describes about the position that a particular data value has within a data set.
Statement 2:is correct because quartiles and percentiles are positional measure of dispersion.

Multiple choice economics measures of dispersion coefficient of variance variance and standard deviation statistics and probability range and mean deviation

If $\sum\limits _{i = 1}^9 {\left( {{x _i} - 5} \right) = 9}$ and $\sum\limits _{i = 1}^9 {{{\left( {{x _i} - 5} \right)}^2}}  = 45$, then the standard deviation of the $9$ items ${x _1},{x _2},.....,{x _9}$ is

  1. $2$
  2. $3$
  3. $9$
  4. $4$
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation
S.D of $xi-5$ is

$\sigma =\sqrt{\dfrac{\sum _{i=1}^{9}(xi-5)^2}{9}-\left [ \dfrac{\sum _{i=1}^{9}(xi-5)^2}{9} \right ]^2}$

$\sigma =\sqrt{5-1}=2$
Multiple choice economics measures of dispersion coefficient of variance variance and standard deviation statistics and probability range and mean deviation

What are the advantages of squaring a difference for calculating variance and standard deviation?

  1. Squaring makes each term positive so that values above the mean do not cancel below the mean.

  2. Squaring adds more weight to the larger differences, and in many cases this extra weight is appropriate since points further from the mean may be more significant.

  3. It complicates the calculations

  4. All are incorrect
Reveal answer Fill a bubble to check yourself
A,B Correct answer
Explanation

Since,

$\sigma _x=\sqrt{\cfrac{\sum (x _i-\bar x)^2}{N}}$
So, we can say that opion $A$ and $B$ are correct.

Multiple choice economics measures of dispersion coefficient of variance variance and standard deviation statistics and probability range and mean deviation

Which of the following are positional measure of dispersion?

  1. Standard Deviation, Variance

  2. Percentile, Variance

  3. Quartile, Variance

  4. Percentile,Quartile
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Percentile,Quartile are positional measure of dispersion because it tells about the position of a particular data value has within a data set.
Standard deviation, Variance are computational measure of dispersion.

Multiple choice economics government budget and economy trade deficits, savings and investment public finance and budget public finance, taxes and budget

Adverse balance of payment can be corrected through _________.

  1. more export

  2. import ban

  3. devaluation of currency

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

An adverse balance of payment can be addressed by increasing exports, restricting imports, or devaluing currency to make exports cheaper and imports more expensive.

Multiple choice economics government budget and economy trade deficits, savings and investment public finance and budget public finance, taxes and budget

When a country's imports are higher than its exports, the balance is termed as ___________.

  1. trade deficit

  2. trade inflow

  3. income deficit

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

When a country's imports are higher than its exports, the value of goods coming in exceeds the value of goods going out, resulting in a trade deficit.