Business Statistics and Research Methods MCQ Questions and Solutions with Explanations

1

The law of statistics, which says "Moderately large number of items chosen at random from a large group possess the characteristics of the large group", is referred to as

A) The central limit theorem B) The law of statistical regularly C) The law of inertia of large numbers D) None of the above

Discuss

Answer & Solution

Answer: Option B

Solution:

The law of statistical regularity states that a moderately large number of items chosen at random from a large group will likely possess the same characteristics as the large group.

This law is fundamental in sampling theory and ensures that a sample is representative of the population from which it is drawn.

It relies on the principle of probability, which guarantees that random selection leads to an accurate reflection of the population's properties.

This law is crucial in fields like business statistics where sampling is essential for data analysis.

2

The difference between sample statistic and its corresponding population parameter is

A) Sampling error B) Measurement error C) Coverage error D) Non-response error

Discuss

Answer & Solution

Answer: Option A

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3

Assertion (A): If regression coefficient of X on Y is greater than one, regression coefficient of Y on X must be less than one.
Reason (R): The geometric mean between two regression coefficients is the coefficient of correlation.

A) Both (A) and (R) are true B) (A) is true, but (R) is false C) (A) is false, but (R) is true D) Both (A) and (R) are false

Discuss

Answer & Solution

Answer: Option A

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4

If in Binomial distribution mean is 10 and standard deviation 2, q will be

A) 0 B) 1 C) 0.4 D) 0.8

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Answer & Solution

Answer: Option C

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5

Consider the following statements:
1. Quartile deviations is more instructive range as it discards the dispersion of extreme items
2. Coefficient of quartile deviaton cannot be used to compare the degree of variations in different distributions
3. There are 10 deciles for a series
Which one of the above statements is/are correct?

A) 1, 2 and 3 B) 2 alone C) 3 alone D) 1 alone

Discuss

Answer & Solution

Answer: Option C

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6

Assertion (A): A reasonably sized sample drawn randomly from large sized population contains almost all the characteristics which exist in the population.
Reason (R): The theory of sampling is based on the two important laws of statistics, viz law of statistical regularity and law of inertia of large numbers.

A) Both (A) and (R) are correct and (R) is the correct explanation of (A) B) Both (A) and (R) are correct, but (R) is not the correct explanation of (A) C) (A) is not correct, while (R) is correct D) Both (A) and (R) are not correct

Discuss

Answer & Solution

Answer: Option B

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7

The regression equation of profits (X) on sales (Y) of a firm is given as: 3Y - 5X + 10 = 0. If the sales of the firm is Rs. 44,000, the profit will be

A) Rs. 23,370 B) Rs. 26,422 C) Rs. 24,422 D) Rs. 21,370

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Answer & Solution

Answer: Option B

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8

Assignment of numerals to the objects to represent their attributes is known as

A) Nominal data B) Ordinal data C) Interval data D) Ratio data

Discuss

Answer & Solution

Answer: Option B

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9

A graph of a cumulative frequency distribution is called

A) Frequency polygon B) Frequency curve C) Ogive D) Pie diagram

Discuss

Answer & Solution

Answer: Option C

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10

Match the following in the term of Terms and Explanation:

List-I (Terms)	List-II (Explanation)
a. $$\frac{{{Z^2} \cdot \sigma _p^2}}{{{e^2}}}$$	1. Measurement for Kurtosis
b. $$\frac{{\left\| {\overline {{X_1}} - \overline {{X_2}} } \right\|}}{{\sqrt {\sigma _p^2\left( {\frac{1}{{{n_1}}} + \frac{1}{{{n_2}}}} \right)} }}$$	2. Calculated value of $$F$$ ratio
c. $$\frac{{{\mu _4}}}{{\mu _2^2}}$$	3. Statistical approach to find out the size of sample
d. $$\frac{{\sigma _{{s_1}}^2}}{{\sigma _{{s_2}}^2}}$$	4. Calculated $$z$$ value of mean differences

A) a-1, b-2, c-3, d-4 B) a-2, b-4, c-3, d-1 C) a-3, b-4, c-2, d-1 D) a-3, b-4, c-1, d-2

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Answer & Solution

Answer: Option D

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Business Statistics and Research Methods MCQ Questions and Solutions with Explanations | Commerce