Business Statistics — Part 1 MCQs with Explanations

alternative hypothesis is the correct answer to “In statistical analysis, the burden of proof lies traditionally with”. This question is standard in competitive examination syllabi for Business Statistics.

All of the above is the correct answer to “Business system consists”. This question is standard in competitive examination syllabi for Business Statistics.

Statements II and III are true is the correct answer to “From the following statements choose the correct statements. Statement I A statistic is a characteristic of a population. Statement II The standard error of mean is the standard deviation of the sampling distribution. Statement III The standard error of mean decreases in direct proportion to sample size.”. This question is standard in competitive examination syllabi for Business Statistics.

Application processing is the correct answer to “. . . . . . . . processing is designed to process more than one type of transactions to bring out the specific business results in one or more business functions.”. This question is standard in competitive examination syllabi for Business Statistics.

All of the above is the correct answer to “Which of the following statement is correct about Electronic Business Technology”. This question is standard in competitive examination syllabi for Business Statistics.

12 is the correct answer to “How many degrees of freedom should be used to apply chi-square test statistic oil a contingency table, having 5 row and 4 columns”. This question is standard in competitive examination syllabi for Business Statistics.

Job card is the correct answer to “In Job order cost system the costs are assigned to the jobs passing through the plant and are accumulated by recording the basic job statistics on the”. This question is standard in competitive examination syllabi for Business Statistics.

Average is the correct answer to “When the relationship is of quantitative nature, the appropriate statistical tool for discovering and measuring the relationship and expressing it, in brief formula is known as”. This question is standard in competitive examination syllabi for Business Statistics.

J. F. Kenny and E. S. Keeping is the correct answer to “"The centre of interest in sampling theory is the development of criteria for assisting common sense or educated judgement concerning the magnitude of chance fluctuation in statistical ratios, averages and co-efficients." Who said”. This question is standard in competitive examination syllabi for Business Statistics.

Regression analysis is the correct answer to “It is often more important to find out what the relation actually is, in order to estimate or product one variable and the statistical technique appropriate to such a case is called”. This question is standard in competitive examination syllabi for Business Statistics.

$${\chi ^2} = \frac{{N{{\left[ {\left( {ad - bc} \right) - \frac{1}{2}N} \right]}^2}}}{{\left( {a + c} \right)\left( {b + d} \right)\left( {a + b} \right)\left( {c + d} \right)}}$$ is the correct answer to “Yaties correction of continuity is”. This question is standard in competitive examination syllabi for Business Statistics.

Stratified sampling is the correct answer to “Which one among the following relates to the probability based sampling technique”. This question is standard in competitive examination syllabi for Business Statistics.

Secondary data is least helpful in evaluating new products is the correct answer to “Which of the following statements are true”. This question is standard in competitive examination syllabi for Business Statistics.

null hypothesis is the correct answer to “A hypothesis that asserts that there is no true differencein the sample and the population in the particular matter under study is termed as”. This question is standard in competitive examination syllabi for Business Statistics.

Type I is the correct answer to “. . . . . . . . errors are made when the test rejects a hypothesis which is true”. This question is standard in competitive examination syllabi for Business Statistics.

All of the above is the correct answer to “Type of information includes”. This question is standard in competitive examination syllabi for Business Statistics.

EOQ is the correct answer to “If the stock level ≤ then recorder level, then draw a purchase order of the quantity equal to the”. This question is standard in competitive examination syllabi for Business Statistics.

All of the above is the correct answer to “The structured systems analysis develops . . . . . . . . of the system”. This question is standard in competitive examination syllabi for Business Statistics.

All of the above is the correct answer to “Decision making using MIS is”. This question is standard in competitive examination syllabi for Business Statistics.

probability is the correct answer to “The . . . . . . . . that one of the several mutually exclusive events X 1 , X 2 , X 3 , . . . . . . . . , X n ; shall happen is the sum of the probabilities of the individual events.”. This question is standard in competitive examination syllabi for Business Statistics.

Local area network is the correct answer to “The initial implementation due to the technology limitation of distance was the departmental network popularly known as the”. This question is standard in competitive examination syllabi for Business Statistics.

Intensive study is the correct answer to “The advantages of sampling is”. This question is standard in competitive examination syllabi for Business Statistics.

Weather and social customs is the correct answer to “The most important factors causing seasonal variations are”. This question is standard in competitive examination syllabi for Business Statistics.

Snowball sampling is the correct answer to “Samples which require respondents to provide the names of additional respondents having similar characteristics. Members of the population who are less known, disliked or whose opinions conflict with the respondent have a low probability of being selected the sampling is”. This question is standard in competitive examination syllabi for Business Statistics.

< or > is the correct answer to “One tailed alternatives are phrased in terms of”. This question is standard in competitive examination syllabi for Business Statistics.

Operational feasibility is the correct answer to “The options approved after the technical evaluation are tested on the”. This question is standard in competitive examination syllabi for Business Statistics.

47.86% to 38.14% is the correct answer to “In a sample of 400 books 172 were Economics books. Estimate the population proportion at 95% confidence levels”. This question is standard in competitive examination syllabi for Business Statistics.

probable is the correct answer to “The . . . . . . . . error of correlation is an amount which if added to and subtracted from the average correlation coefficient produces amounts within which the chances are even that a coefficient of correlation from a series error selected at random will fall.”. This question is standard in competitive examination syllabi for Business Statistics.

Positive correlation is the correct answer to “Given X value Y value 5 2 10 7 15 9 21 11 24 15 25 17 30 18 32 21 The above series is an example of”. This question is standard in competitive examination syllabi for Business Statistics.

Stratified random sampling is the correct answer to “When a researcher want to select a representative sample to asses different parameters from a large sized finite heterogeneous population, which one of the following sampling techniques is the most appropriate”. This question is standard in competitive examination syllabi for Business Statistics.

$$\frac{2}{{169}},\,\frac{2}{{663}}$$ is the correct answer to “What will be the probability that one is king and other is queen”. This question is standard in competitive examination syllabi for Business Statistics.

System Engineering Scope is the correct answer to “Given This is a . . . . . . . . figure.”. This question is standard in competitive examination syllabi for Business Statistics.

58.3% is the correct answer to “A bag contains 4 white, 2 black, 3 yellow and 3 red balls. What is the probability of getting a white or red ball at random in a single draw of one”. This question is standard in competitive examination syllabi for Business Statistics.

All of these is the correct answer to “Frequency distribution includes”. This question is standard in competitive examination syllabi for Business Statistics.

Option "Small test" is the correct answer for this question under Business Statistics.

a-2, b-3, c-1 is the correct answer to “Match the following List-I (Outcome State) List-II (Explanation) a. Certainty 1. Multiple outcomes for each alternative can be identified, but there is no knowledge of the probability to be attached to each. b. Risk 2. Complete and accurate knowledge of the outcome of each alternative. There is only one outcome for each alternative. c. Uncertainty 3. Multiple possible outcomes of each alternative can be identified, and a probability of occurrence can be attached to each.”. This question is standard in competitive examination syllabi for Business Statistics.

$${\chi ^2} = \frac{{\sum {{\left( {O - E} \right)}^2}}}{E}$$ is the correct answer to “$${\chi ^2}$$ computed by”. This question is standard in competitive examination syllabi for Business Statistics.

P(A) + P(B) is the correct answer to “Addition theorem states that if two events A and B are mutually exclusive the probability of occurrence of either A or B is given by”. This question is standard in competitive examination syllabi for Business Statistics.

E-R diagram is the correct answer to “Given 1. One-to-one 2. One-to-many 3. Many-to-many The above relation indicates to the”. This question is standard in competitive examination syllabi for Business Statistics.

Jacob Bernoulli is the correct answer to “Binomial distribution was developed by”. This question is standard in competitive examination syllabi for Business Statistics.