Business Statistics and Research Methods MCQ Questions and Solutions with Explanations

11

Arrange the following steps in sequence for calculation of test of significance for large sample.
1. State the null hypothesis.
2. Compute the statistic.
3. Determine the level of significance.
4. Compute the critical value by testing the value of 'Z'.
5. Compare the value of test statistic 2 with the critical value to arrive at a decision.

A) 1, 2, 3, 4, 5 B) 2, 3, 4, 5, 1 C) 1, 3, 2, 4, 5 D) 5, 4, 3, 2, 1

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Answer & Solution

Answer: Option A

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12

Which of the following statements is correct about a parameter and a statistic associated with repeatedrandom samples of the same size from the same population?

A) Values of a parameter will vary from sample to sample but values of a statistic will not B) Values of both a parameter and a statistic may vary from sample to sample C) Values of a parameter will vary according to the sampling distribution for that parameter D) Values of a statistic will vary according to the sampling distribution for that statistic

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Answer & Solution

Answer: Option D

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13

In which of the following sampling methods are the "n" individuals subdivided into separate subpopulations with a common characteristic?

A) Stratified sample B) Systematic sample C) Cluster sample D) None of the above

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Answer & Solution

Answer: Option A

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14

Select the methods of finding out correlation from the following:
(i) Karl Pearson's Method
(ii) Spearman's Rank Method
(iii) Yule's Method
(iv) Coefficient of Contingency
(v) Concurrent Deviation Method

A) (i), (ii), (iii) B) (i) (ii), (iii), (iv) C) (i), (ii), (v) D) (iii), (iv), (v)

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Answer & Solution

Answer: Option C

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15

The mean and standard deviation of 10 observations are 35 and 2 respectively.

List-I	List-II
a. Changed mean if each observation is increased by 4	1. 39
b. Standard deviation if each observation is increased by 4	2. 2
c. Changed mean if each observation is multiplied by 5	3. 175
d. Changed standard deviation if each observation is multiplied by 5	4. 10

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

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Answer & Solution

Answer: Option A

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16

Which one of the following average can be computed from a cumulative frequency curve?

A) Geometric Mean B) Harmonic Mean C) Mode D) Median

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Answer & Solution

Answer: Option D

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17

Which of the following statement(s) is/are not true?

A) Analysis of variance is helpful for test three or more variables B) ANOVA leads to fewer errors C) ANOVA is based on emphrical evidences D) All statements are false

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Answer & Solution

Answer: Option C

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18

Formula of the rank correlation coefficient is

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

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Answer & Solution

Answer: Option B

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19

Non-sampling error may be caused by

A) inadequate data specification and inconsistency with respect to the objectives of the survey B) errors due to location of units, actual measurement of characteristics, ill designed questionnaire C) lack of trained and qualified investigators D) All of the above

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Answer & Solution

Answer: Option D

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20

If 'X' is a random variable, taking values 'X', probability of success and failure being 'p' and 'g' respectively and 'n' trials being conducted, then what is the probability that 'X' takes values 'x'? Use Binomial Distribution.

A) $$P\left( {X = x} \right) = {}^n{C_x}{p^x}{q^x}$$ B) $$P\left( {X = x} \right) = {}^n{C_x}{p^x}{q^{\left( {n - x} \right)}}$$ C) $$P\left( {X = x} \right) = {}^x{C_n}{q^x}{p^{\left( {n - x} \right)}}$$ D) $$P\left( {x = x} \right) = {}^x{C_n}{p^n}{q^x}$$

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Answer & Solution

Answer: Option B

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