Tag: economics

Questions Related to economics

Maharashtra is the first State to announce FinTech Policy and ‘World FinTech Hub’ will be set up in ______.

the economy of maharashtra economics

  1. Nagpur

  2. Nasik

  3. Kolhapur

  4. Mumbai Metropolitin Region

Show answer
Correct Option: D
Explanation:

The Mumbai FinTech Hub has been established by Government of Maharashtra for implementing Maharashtra State FinTech Policy. Government of Maharashtra has been the first state in India to create a Fintech policy to support the sector with a vision to convert Mumbai into a Global Fintech Hub. It will be set up in Mumbai Metropolitin Region (MMR).

Fill in the blanks.

In 'Less Than" Ogive, the cumulative frequencies are written corresponding to the _______[P] limits of the classes of the given data.
In 'More Than' Ogive, the cumulative frequencies are written corresponding to the ____[Q] limit of the classes.
On an ogive, point P whose y-coordinate $=n/2$ (i.e., half of the total number of the entries), has its x-coordinate equal to the _____[R] of the data.
Two ogives, one 'less than' type and the other 'more than' type for the same data when drawn simultaneously on the same graph, intersect each other at the point P whose _____[S] $=n/2$ and __________[T] $=$ median of the data where n is the total number of the entries of the data.

economics frequency polygons

  1. P-Upper, Q-Lower, R-Median, S- y-coordinate, T-x-coordinate

  2. P-Lower, Q-Upper, R-Median, S-y-coordinate, T-x-coordinate

  3. P-Upper, Q-Lower, R-Median, S-x-coordinate, T-y-coordinate

  4. P-Upper, Q-Lower, R-Upper limit, S-y-coordinate, T-x-coordinate

Show answer
Correct Option: A
Explanation:

In less than ogive, the curve is formed by joining upper limits of classes and cumulative frequencies as written corresponding to the upper limits of the given data.


In more than ogive, the curve is formed by joining lower limits of classes and cumulative frequencies as written corresponding to the lower limits of the given data.

$n/2$ on y-axis corresponds to the middle term of the observations when arranged in ascending order, giving us median of the data.

When both less than and more than Ogives are plotted on same graph, they both will intersect at the median as it remains the same for a given set of observations.
For x-coordinate giving Median, corresponding y-coordinate is $n/2$.

Hence, the answer is P-Upper, L-Lower, R-Median, S-y coordinate, T-x coordinate

Which one of the following  definitions is for frequency curve?

economics frequency polygons

  1. The polygon formed by joining the middle points oft he tops of bars of the histogram.

  2. A special type of bar graph to represent a frequency distribution. Here the bars are drawn adjacent to each other, class intervals are represented on the horizontal axis and frequency on the vertical axis.

  3. If the class intervals are plotted on the horizontal axis and the cumulative frequencies on the vertical axis against the upper class boundaries then the free band curve through the points so plotted.

  4. The curve formed by joining the middle points of the tops of bars of the histogram.

Show answer
Correct Option: D
Explanation:

Answer:- D) The curve formed by joining the middle points of the tops of bars of the histogram.

Reason:-
Frequency curve is defined as the curve formed by joining the middle points of the tops of the bars.

The measure of dispersion is a characteristics of :

economics frequency polygons collection, organisation and presentation of data frequency polygon and frequency curve diagrammatic presentation of data

  1. frequency polygon

  2. frequency curve

  3. frequency class

  4. frequency limit

Show answer
Correct Option: B
Explanation:

There are following characteristics of $frequency curve$

$1$.Frequency curve identical in shape with different central locations.
$2.$frequency curve with same central location but different dispersion.
$3.$Frequency curve exist with different skewing.

Which one of the following is not a characteristics of frequency curve?

economics frequency polygons collection, organisation and presentation of data frequency polygon and frequency curve diagrammatic presentation of data

  1. measure of central tendency

  2. measure of dispersion

  3. frequency polygon

  4. shape of the frequency curve

Show answer
Correct Option: C
Explanation:

Frequency polygon is not a characteristics of frequency curve.
Because frequency polygon is one kind of curve not a characteristics of frequency curve.

Frequency Polygon and frequency curves are one and the same.

economics frequency polygons collection, organisation and presentation of data frequency polygon and frequency curve diagrammatic presentation of data

  1. True

  2. False

Show answer
Correct Option: B

A histogram is the same as a frequency polygon.

economics frequency polygons collection, organisation and presentation of data frequency polygon and frequency curve diagrammatic presentation of data

  1. True

  2. False

Show answer
Correct Option: B

A frequency polygon is a graph that represents frequency distribution.

economics frequency polygons collection, organisation and presentation of data frequency polygon and frequency curve diagrammatic presentation of data

  1. True

  2. False

Show answer
Correct Option: A

Frequency curve may be:

economics frequency polygons collection, organisation and presentation of data frequency polygon and frequency curve diagrammatic presentation of data

  1. Symmetrical

  2. Positive skew

  3. Negative skew

  4. All of the above

Show answer
Correct Option: D

A curve obtained by plotting cumulative frequencies in called an Ogive.

economics frequency polygons collection, organisation and presentation of data frequency polygon and frequency curve diagrammatic presentation of data

  1. True

  2. False

Show answer
Correct Option: A