Business Statistics and Research Methods MCQ Questions and Solutions with Explanations

71

Select the methods of finding out correlation from the following.
1. Karl Pearson's Method
2. Spearman's Rank Method
3. Yule's Method
4. Coefficient of Contingency
5. Concurrent Deviation Method
Select the correct answer:

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

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Answer & Solution

Answer: Option C

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72

A distribution, where the value of arithmetic mean is maximum as compared to median and mode, is

A) Normal distribution B) Positively-skewed distribution C) Negatively-skewed distribution D) None of the above

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Answer & Solution

Answer: Option B

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73

If A and B are dependent events, then

A) $$P\left( {A/B} \right) = \frac{{P\left( A \right) \cdot P\left( {B/A} \right)}}{{P\left( A \right)}}$$ B) $$P\left( {A/B} \right) = P\left( A \right) \cdot P\left( {B/A} \right)$$ C) $$P\left( {A/B} \right) = P\left( B \right) \cdot P\left( {A/B} \right)$$ D) $$P\left( {A/B} \right) = \frac{{P\left( A \right) \cdot P\left( {B/A} \right)}}{{P\left( B \right)}}$$

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Answer & Solution

Answer: Option C

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74

Which of the following is the non-random method of selecting sampling from a population?

A) Stratified sampling B) Quota sampling C) Systematic sampling D) Cluster sampling

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Answer & Solution

Answer: Option B

Solution:

In sampling methods, both random and non-random techniques are employed to gather data from a population.

Stratified Sampling:
Explanation: This is a random sampling technique where the population is divided into subgroups or strata based on certain characteristics, and then samples are randomly selected from each stratum.
Example: If a population is categorized by age, samples are randomly taken from each age group.

Quota Sampling:
Explanation: In quota sampling, the population is divided into specific groups, and a certain number of individuals are chosen from each group, not necessarily through a random process.
Example: If a population is divided by gender, a quota of participants from each gender may be selected purposefully.

Systematic Sampling:
Explanation: In systematic sampling, a fixed interval is used to select samples after an initial random start. It is a structured approach but not entirely random.
Example: Choosing every 5th person from a list after a random starting point.

Cluster Sampling:
Explanation: The population is divided into clusters, and then some clusters are randomly selected, and all members from those clusters are included in the sample.
Example: If a city is divided into districts, randomly select some districts, and survey all individuals within those districts.

In the context of the question, Quota Sampling is the non-random method as it involves selecting individuals purposefully based on certain quotas rather than entirely at random.

Therefore, the correct answer is Option B: Quota sampling.

75

The Time Reversibility Test satisfies, if

A) P₀₁ × P₁₀ = 100 B) P₀₁ × P₁₀ < 100 C) P₀₁ × P₁₀ > 100² D) P₀₁ × P₁₀ = 1

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Answer & Solution

Answer: Option D

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76

Which of the following is not a restricted random sampling technique?

A) Startified sampling B) Simple random sampling C) Systematic sampling D) Multi-stage sampling

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Answer & Solution

Answer: Option B

Solution:

Stratified Sampling:
Explanation: Stratified sampling is a restricted random sampling technique where the population is divided into subgroups or strata based on certain characteristics, and then samples are randomly selected from each stratum.

Simple Random Sampling:
Explanation: Simple random sampling is a pure random sampling technique where every individual in the population has an equal chance of being selected.

Systematic Sampling:
Explanation: Systematic sampling is a restricted random sampling technique where a random start point is chosen, and then every kth individual is selected.

Multi-stage Sampling:
Explanation: Multi-stage sampling involves a combination of various sampling techniques in multiple stages to create a more complex sampling design.

In the context of the question, Simple Random Sampling is not a restricted technique; it is the most basic and unrestricted form of random sampling where each individual has an equal chance of being selected.

Therefore, the correct answer is Option B: Simple random sampling.

77

If the dispersion is small, the standard deviation is:

A) Large B) Zero C) Small D) Negative

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Answer & Solution

Answer: Option C

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78

The process of thoroughly checking the collected data to ensure optimal quality level is referred to as

A) Validation B) Editing C) Classification D) Entry

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Answer & Solution

Answer: Option B

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79

Sample design involves which of the following?
1. Sampling unit
2. Size of samples
3. Type of universe
4. Source list
5. Sampling procedure

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

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Answer & Solution

Answer: Option C

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80

The value we would predict for the dependent variable when the independent variables are all equal to zero is called:

A) Slope B) Sum of residual C) Intercept D) Difficult to tell

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Answer & Solution

Answer: Option C

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