Business Statistics And Research Methods — Part 2 MCQs with Explanations

$$0.6745\left[ {\frac{{1 - {r^2}}}{{\sqrt n }}} \right]$$ is the correct answer to “Which one of the following formulas is used to calculate probable error of correlation coefficient between two variables of $$'n'$$ pairs of observations”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

On 2nd May, 1951 is the correct answer to “Central statistical organization was established:”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Simple random is the correct answer to “Which one of these sampling methods is a probability method that seems to be objective, accurate and unbiased”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Exclusive class is the correct answer to “In the case of classification of data, the class having its upper limit is treated as the lower limit of its next class is called”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Both 1 and 4 is the correct answer to “Which of the following statements relating to the sampling theory are correct? 1. The values of the statistical measures based on the sampled units are called values of statistics. 2. In the simple random sampling technique, the element of the population and the unit of the sample are different. 3. Snow-ball sampling technique is a probability based sampling technique. 4. The 'law of statistical regularity' and the 'law of inertia of large numbers' are the main bases of the sample to become representative of the population. Choose the correct answer:”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Median is the correct answer to “If a perpendicular on X-axis from the point of intersection of both 'less than' and 'more than' frequency curves is drawn, it gives the value of”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

a-4, b-3, c-1, d-2 is the correct answer to “Match the items of List-I with the items of List-II and select the correct answer: List-I List-II a. Standard error of mean 1. $$Ha:{\mu _1} \ne {\mu _2}$$ b. Base of point estimate of the mean of the population 2. Values based on all the observations of the population c. Non-specific hypothesis 3. Mean of the sampling distribution of mean d. Parameter value of descriptive statistics 4. Standard deviation of the sampling distribution of mean”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

0.80 is the correct answer to “If the value of coefficient of determination is 0.64, what is the value of coefficient of correlation”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

All labours is the correct answer to “To study the economic condition of the workers of a factory, universe will be”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Population is normally distributed is the correct answer to “Sampling distribution of mean is very close to the standard normal distribution when”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Both statements are correct is the correct answer to “Statement I: The absolute value of the difference between an unbiased estimate and the corresponding population parameter is called sampling error. Statement II: Multi-stage sampling is a restricted non-probability based sampling technique.”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Qualitative classification is the correct answer to “When the data are classified only on the basis of descriptive characteristics which cannot be quantified is known as”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

$$t = \frac{{\overline {{x_1}} - \overline {{x_2}} }}{S}\sqrt {\frac{{{n_1} - {n_2}}}{{{n_1} + {n_2}}}} $$ is the correct answer to “The difference of two means in case of small samples is tested by the formula:”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

0.87 is the correct answer to “The following are the estimated regression equations for x and y variables. x = 0.85y y = 0.89x With this information, the value of the coefficient of correlation would be”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Correlation is the correct answer to “Which of the following is not a measure of central tendency”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

0.01 is the correct answer to “A hypothesis test is being performed for a process in which a type I error will be very costly, but a type II error will be relatively inexpensive and unimportant. Which of the following would be the best choice for alpha (α) in this test”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Coefficient of correlation is the correct answer to “Which of the following is odd one out with regard to 'measure of dispersion'”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

0 is the correct answer to “Average value of -4, -3, 0, 3, 4 will be”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

1, 3 and 4 is the correct answer to “Which of the following statements are true? 1. The coefficient of rank correlation has the same limits as the Karl Pearson's coefficient of correlation. 2. The coefficient of correlation is independent of the change of origin but not of scale. 3. The covariance between $$X$$ and $$Y$$ is defined as $$\frac{{\sum {xy} }}{n}$$ where, $$x = \left( {X - \overline X } \right),y = \left( {Y - \overline Y } \right)$$ and $$n = $$ no. of paired observations. 4. $${b_{xy}}$$ is called regression coefficient of $$X$$ variable on $$Y$$ variable. 5. If $${b_{xy}}$$ is 0.4 and $${b_{yx}}$$ is 1.6, coefficient of determination would be 0.8. Select the correct answer:”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

0 to 1 is the correct answer to “If the dependent variable increases as the independent variable increases in an estimation equation, the coefficient of correlation will be in the range”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

+ 0.40 is the correct answer to “If the two regression coefficients are 0.8 and 0.2, then the value of coefficient of correlation is”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Interpret primary data more insightfully is the correct answer to “Which one of the following objectives is not the objective of secondary data collection”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

A, B and C is the correct answer to “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.”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Central value, dispersion, skewness and kurtosis is the correct answer to “Aset of data can be distinguished from other set of data by means of”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Mean is the correct answer to “In the frequency curve of symmetric distribution, if a perpendicular is drawn from the vertex to the base line, which is divided into two parts if the area on the right side is greater than the area on the left side, then which of the following has the highest value”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

99.73 items is the correct answer to “Mean $$ \pm\, 3\sigma $$ covers-”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

GM of Laspeyres and Paasche index numbers is the correct answer to “The Fisher index number is”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

1, 2 and 5 is the correct answer to “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:”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Positively-skewed distribution is the correct answer to “A distribution, where the value of arithmetic mean is maximum as compared to median and mode, is”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

$$P\left( {A/B} \right) = P\left( B \right) \cdot P\left( {A/B} \right)$$ is the correct answer to “If A and B are dependent events, then”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

P01 × P10 = 1 is the correct answer to “The Time Reversibility Test satisfies, if”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Small is the correct answer to “If the dispersion is small, the standard deviation is:”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Editing is the correct answer to “The process of thoroughly checking the collected data to ensure optimal quality level is referred to as”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

3, 1, 4, 2, 5 is the correct answer to “Sample design involves which of the following? 1. Sampling unit 2. Size of samples 3. Type of universe 4. Source list 5. Sampling procedure”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Intercept is the correct answer to “The value we would predict for the dependent variable when the independent variables are all equal to zero is called:”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

0.40 is the correct answer to “If b xy = 0.25 and b yx = 0.64 correlation coefficient is”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

(A) is true and (R) as per the sampling theory is also fully true is the correct answer to “Assertion (A): A reasonably large sized sample drawn randomly from a given population contains almost all the characteristics of the population. Reason (R): As per the sampling theory, the assertion is based only on the 'law of inertia of large numbers'.”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Quartile is the correct answer to “Which one of the following is not a measure of dispersion”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Both (A) and (R) are true and (R) is the correct explanation of (A) is the correct answer to “Assertion (A): When there is an evidence of a linear relationship between two variables, it may not always mean an independent-dependent relationship between the two variables. Reason (R): The casual relationship between the two variables may not imply a reasonable theoretical relationship between the two.”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.

Cannot be determined from the given information is the correct answer to “If there are 8 possible classes under consideration for a goodness of fit, the number of degrees of freedom will be”. This question is standard in competitive examination syllabi for Business Statistics And Research Methods.