Business Statistics and Research Methods MCQ Questions and Solutions with Explanations

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

Business Statistics and Research Methods MCQ Questions and answers with easy and logical explanations. Commerce provides you all type of quantitative and competitive aptitude mcq questions with easy and logical explanations. Business Statistics and Research Methods MCQ is important for exams like B.COM, M.COM, BBA, BBM, CA, CS, CMA, CPA, CFA, UPSC, NET, Banking and other commerce department exam. Page-2 section-5

In the Spearman's rank correlation coefficient, when the ranks are equal, the formula is

A) $$1 - \frac{{\left[ {6\sum {D^2} + \frac{1}{2}\left( {{m^2} - m} \right) + \frac{1}{2}\left( {{m^2} - m} \right) + .....} \right]}}{{{N^3} - N}}$$ B) $$1 - \frac{{6\left[ {\sum {D^2} + \frac{1}{{12}}\left( {{m^3} - {m_1}} \right) + \frac{1}{{12}}\left( {{m^3} - {m_2}} \right) + .....} \right]}}{{{N^3} - N}}$$ C) $$1 - \frac{{\frac{1}{2}\left[ {\left( {{m^3} - m} \right) + \frac{1}{2}\left( {{m^3} - m} \right) + .....} \right]}}{{{N^3} - N}}$$ D) None of the above

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Answer: Option B

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The formula for percentile range (P.R.) is

A) P₉₀ - P₁₀ B) P₅₀ - P₃₀ C) P₇₅ - P₂₅ D) None of these

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Answer: Option A

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For a normal distribution

A) Mean > Mode > Median B) Mean < Median < Mode C) Mean > Median > Mode D) Mean = Mode = Median

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Answer: Option D

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The degree to which numerical data tend to spread about an average value called:

A) Constant B) Flatness C) Variation D) Skewness

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Answer: Option C

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Rank correlation coefficient is obtained by following the formula.

A) $$1 - \frac{{\sum {D^2}}}{{{N^3} - N}}$$ B) $$\frac{{6\sum {D^2}}}{{N\left( {{N^3} - N} \right)}}$$ C) $$1 - \frac{{6\sum {D^2}}}{{N\left( {{N^2} - 1} \right)}}$$ D) $$1 + \frac{{6\sum {D^2}}}{{N\left( {{N^3} - N} \right)}}$$

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Answer: Option C

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Match the following.

List-I	List-II
a. Primary data	1. Representation of data in form of picture
b. Secondary data	2. The totality of things under consideration
c. Pictogram	3. Data collected by the investigator himself
d. Population	4. Data used by the investigator, which has already been collected by others

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

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Answer: Option B

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For testing of hypothesis:
Ho: Mi = M2
Ha: Mi < M2
What should be the critical value of Z at 5% level of significance when size of sample is more than 30 is:

A) 1.96 B) 2.32 C) 1.645 D) 2.5758

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Answer: Option C

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Cricketer 'A' scores on an average 40 runs with a standard deviation of 5. Scores of players 'B' and 'C', on an average, are 75 and 90 with standard deviations 10 and 18 respectively. Arrange the players in the descending order of consistency:

A) A, B and C B) C, B and A C) B, A and C D) C, A and B

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Answer: Option A

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In least squares regression, which of the following is not a required assumption about the error term E?

A) The expected value of the error term is one B) The variance of the error term is the same for all values of x C) The values of the error term are independent D) The error term is normally distributed

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Answer: Option A

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In a unimodal and symmetric distribution, the relationship between average is like this.

A) Mean > Median > Mode B) Mean < Median > Mode C) Mean = Median = Mode D) Mean > Median < Mode

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Answer: Option A

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