QUIZ - MB 0040 STATISTIC FOR MANAGEMENT Question: In industry Statistics is applied in the following areas Response:

Quality control Question: In which of the area Statistics is not applied Response: Booking a Railway ticket Question: Statistics are collected in a Response: Systematic manner Question: Statistics deals with Response: Aggregate of facts

Question: The study of movement of wholesale prices of a commodity Response: Requires Statistics

Question: Statistics can be applied in Response:

Quality control methods and planned recruitment Question: In modern days many organizations Response: Are rich on data and do not draw information from it Question: Statistics in singular noun is defined as Response:

The science of collection, presentation, analysis and interpretation of numerical data Question: Statistics is Response:

Affected by external forces and are expressed numerically Question: In industry Statistics is applied in the following areas

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Response:

Quality control Question: In which of the area Statistics is not applied Response: Booking a Railway ticket Question: Statistics are collected in a Response:

Systematic manner Question: Statistics deals with Response: Aggregate of facts

Question: The study of movement of wholesale prices of a commodity Response: Requires Statistics Question: A person is hired by a five star hotel to study the possibility of improving the returns through customer's satisfaction. The person appointed for this purpose collects data from the customers with respect to the quality of food and service, satisfaction and price aspects. i. The Hotel management collects data by Response:

Through agent Question: A person is hired by a five star hotel to study the possibility of improving the returns through customer's satisfaction. The person appointed for this purpose collects data from the customers with respect to the quality of food and service, satisfaction and price aspects. ii. Two of the information collected belong to intangible cadre. They are Response:

Quality of food and service Question: A person is hired by a five star hotel to study the possibility of improving the returns through customer's satisfaction. The person appointed for this purpose collects data from the customers with respect to the quality of food and service, satisfaction and price aspects. iii. The information will help the management Response:

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To reorganize and improve in all respects Question: A person is hired by a five star hotel to study the possibility of improving the returns through customer's satisfaction. The person appointed for this purpose collects data from the customers with respect to the quality of food and service, satisfaction and price aspects. iv. Service level can be improved by Response:

Giving proper training Question: A hospital wants to start some new department for treating patients. Since the cost will be high they decide to estimate the return. i. The most appropriate units of observation will be . Response: The return received by other hospitals having same department Question: A hospital wants to start some new department for treating patients. Since the cost will be high they decide to estimate the return. ii. The data is collected by Response: Secondary source Question: A hospital wants to start some new department for treating patients. Since the cost will be high they decide to estimate the return. iii. Unit of measurement will be Response: Percentage net return

Question: A hospital wants to start some new department for treating patients. Since the cost will be high they decide to estimate the return. iv. Another useful added information for the purpose of investigation is Response:

Percentage of patients wanting such new department Question: Suppose the State Government wishes to find the average yield of wheat per acre then i. As first step, it should get information on Response:

Total number of acre and yield available in the state

Question: Suppose the State Government wishes to find the average yield of wheat per acre then ii. The data for (i) can be obtained from Response:

Secondary source Question: Suppose the State Government wishes to find the average yield of wheat per acre then iii. The scope of the investigation is Response:

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Land used for wheat production Question: Suppose the State Government wishes to find the average yield of wheat per acre then iv. Data collected should be in terms of Response: Kg / acre Question: A properly planned investigations leads to Response:

Best results with minimum cost and time Question: Control methods are used to Response: Check accuracy, coverage, analysis and interpretation Question: The objectives of investigation could be Response: To obtain certain estimates or to establish a theory or to verify the existing relationship Question: The scope of investigation covers such as Response:

Area to be covered, time, and cost Question: Sequence of planning a survey is Response:

Defining the problem, specifying objectives, scope of investigation and organization Question: Control methods adopted in a survey at every stage is to check Response:

Accuracy, measurement analysis and interpretation Question: Statistical Survey is a scientific process of Response:

Collection and analysis of numerical data Question: The collected data should be first Response:

Edited Question: The relevance and accuracy of data depends upon care exercised during Response:

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Planning and execution Question: Classification Response: Reduces the bulk data Question: Classification done according to two variables is known as Response: Two-way classification Question: Classification follows Response:

c. Collection Question: Classification of employees according to skill, sex and education comes under Response: Manifold Question: Classification of workers according to education and skill is called Response:

Two-way Question: Data arranged logically according to size is known as Response: Statistical series Question: Data classified according to the time of occurrence is known as Response:

Chronological classification

Score of NA Question: Data that are immeasurable is classified under Response: Qualitative classification Feedback: Question: In classification each unit is allotted to Response: Two or more groups

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Question:

Response: b

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Question:

Response:

b Question:

Response:

200 Question: There are 200 employees in a firm. 81 of them are Male and the rest Female. 12 of them are Doctorates 53 of them are Graduates and the rest Post graduates. Education level of females are as follows: 8 doctorates 89 Post graduates and the rest graduates. Without tabulating can we quickly say that Response:

Difficult to say

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Question:

Response:

d Question:

Response: a

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Question: There are 200 employees in a firm. 81 of them are Male and the rest Female. 12 of them are Doctorates 53 of them are Graduates and the rest Post graduates. Education level of females are as follows: 8 doctorates 89 Post graduates and the rest graduates i. The above form of describing a situation is known as Response:

Text form Question: There are 200 employees in a firm. 81 of them are Male and the rest Female. 12 of them are Doctorates 53 of them are Graduates and the rest Post graduates. Education level of females are as follows: 8 doctorates 89 Post graduates and the rest graduates. Then Tabulation Response:

Make comparisons easier Question:

Response: a Question:

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Response:
d

Question:

Response:

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Question:

Response: a Question: Classifications done on the basis of attributes blindness and region are known as Response:

Two-way qualitative and geographical classification Question: Raw data relating to weight and height of people of residential complex can be Response: Classified according to two different classes Question: Two functions of classification are Response:

Reduce bulk data and facilitate comparisons Question: Two requisites of good classification are Response:

Exhaustive and revealing Question: Classifications done on the basis of attributes blindness and region are known as Response:

Two-way qualitative and geographical classification Question: Raw data relating to weight and height of people of residential complex can be Response:

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Classified according to two different classes Question: Two functions of classification are Response:

Reduce bulk data and facilitate comparisons Question: Two requisites of good classification are Response:

Exhaustive and revealing Question: A good average must be Response: Based on all values and rigidly defined Question: Find the mean value for the grouped data C.I 10-20 20-30 30-40 40-50 50-60 60-70 Freq 15 10 8 12 16 9 Response:

35.44 Question: The mean of the following distribution is X 145 155 165 175 Freq 10 12 15 10 Response: 160.3 Question: The mean value of age for the data given by Age 10 15 20 25 30 No. of people 2 4 5 7 8 Response:

22.9 Question: A good measure of Average should be Response:

Based on all values Question: A.M is Response: More stable Question: If to every value of 10, 12, 15, 20, 25 we add 2 then average will Response: Increase by 2

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Question: It is not possible to calculate A.M. for distributions with Response:

Open-intervals Question: Measure of central tendency are of Response: First order Question: Sum of deviations of individual results taken mean will always be Response: 0 Question: Sum of squares of deviation of individual values taken from mean will always be Response: Minimum Question: The average value of -4, -3, 0, 3, 4 is Response:

0 Question: The average value of 10, 12, 15, 17, 6 is Response:

12 Question: Statistical Average provide basis for Response: Decision making Question: A company finds that the efficiency of 60 non-graduates to be 70%, 80 graduates to be 75% and 30 post graduates to be 85%. i)The method used to find overall efficiency is Response:

Combined average Question: A company finds that the efficiency of 60 non-graduates to be 70%, 80 graduates to be 75% and 30 post graduates to be 85% ii. The average efficiency of non graduates and graduates is Response: 72.86% Question:

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A company finds that the efficiency of 60 non-graduates to be 70%, 80 graduates to be 75% and 30 post graduates to be 85% iii. The average efficiency of graduates and post graduates is Response:

77.73% Question: A company finds that the efficiency of 60 non-graduates to be 70%, 80 graduates to be 75% and 30 post graduates to be 85% iv. The overall efficiency is Response: 75%

Question:

Response:

Question: Mr. Anil goes to a supermarket. He purchases 8 pieces of item A @ Rs.5/- each, 12 pieces of item B @ Rs.10/- each, 15 pieces of item C @ Rs.20/- each, 10 pieces of item D @ Rs.15/- each and 6 pieces of item E @ Rs.12/- each. It is a . Distribution Response:

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Discrete Question: Mr. Anil goes to a supermarket. He purchases 8 pieces of item A @ Rs.5/- each, 12 pieces of item B @ Rs.10/- each, 15 pieces of item C @ Rs.20/- each, 10 pieces of item D @ Rs.15/- each and 6 pieces of item E @ Rs.12/- each. The average price per piece is Response:

13.37 Question: Mr. Anil goes to a supermarket. He purchases 8 pieces of item A @ Rs.5/- each, 12 pieces of item B @ Rs.10/- each, 15 pieces of item C @ Rs.20/- each, 10 pieces of item D @ Rs.15/- each and 6 pieces of item E @ Rs.12/- each. The total amount spend by him is Response:

682 Question: A box has 100 tickets with numbers from 1 to 100 one ticket is drawn at random from the box. i. The probability that the number drawn is divisible by 24 is Response: 0.04

Question: A box has 100 tickets with numbers from 1 to 100 one ticket is drawn at random from the box. ii. The probability that the number is divisible by 15 or 30 is Response: 0.06 Question: A box has 100 tickets with numbers from 1 to 100 one ticket is drawn at random from the box. iii. The probability that the number drawn is divisible by 12 or 23 is Response:

0.12 Question: A box has 100 tickets with numbers from 1 to 100 one ticket is drawn at random from the box. iv. The probability that it is divisible by - 25 is Response:

0.04 Question: A sales manager has ten salesmen working under him. He moves with them closely and know the strengths and weakness of each. Under any new circumstances he knows that Rama, Ramu, Ranga and Rathan will succeed in the ratio 2:3:4:6

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i. The probability that Ramu will succeed is Response:

3 / 15 Question: A sales manager has ten salesmen working under him. He moves with them closely and know the strengths and weakness of each. Under any new circumstances he knows that Rama, Ramu, Ranga and Rathan will succeed in the ratio 2:3:4:6 ii. The probability that Rama and Rathan will succeed is Response:

4 / 75

Question: A sales manager has ten salesmen working under him. He moves with them closely and know the strengths and weakness of each. Under any new circumstances he knows that Rama, Ramu, Ranga and Rathan will succeed in the ratio 2:3:4:6 iii. The probability that Ramu or Ranga will succeed is Response: 7 / 15 Question: A sales manager has ten salesmen working under him. He moves with them closely and know the strengths and weakness of each. Under any new circumstances he knows that Rama, Ramu, Ranga and Rathan will succeed in the ratio 2:3:4:6 iv. The type of approach followed by sales manager is Response:

Subjective Feedback: Question: In a housing complex there are 51 apartments. All of them are occupied by individual families. Mr.X living in that complex wishes to form a committee of 5 members by selecting head of the family. Since the idea came from him every body agrees that he should be one member i. The population is a Response: Finite population Feedback: Question: In a housing complex there are 51 apartments. All of them are occupied by individual families. Mr.X living in that complex wishes to form a committee of 5 members by selecting head of the family. Since the idea came from him every body agrees that he should be one member ii. The probability that a house hold head will be selected is Response:

1 / 50 Question: In a housing complex there are 51 apartments. All of them are occupied by individual families. Mr.X living in that complex wishes to form a committee of 5 members by selecting head of the family. Since the idea came from him every body agrees that he should be one member iii. The probability that six members will be selected is Response:

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Question: The probability that Mr.Amar, Ashish and Mr.Astosh will become chairman of a company are 0.4, 0.3 and 0.3 respectively. The probability that they will introduce a new product in the market are 0.08, 0.10 and 0.15 respectively. i. The probability that Mr.Astosh has introduced the new product is Response: 0.42 Question: The probability that Mr.Amar, Ashish and Mr.Astosh will become chairman of a company are 0.4, 0.3 and 0.3 respectively. The probability that they will introduce a new product I the market are 0.08, 0.10 and 0.15 respectively. ii. The probability that either Mr.Amar or Mr.Ashish have introduced the new product is Response: 0.58 Question: The probability that Mr.Amar, Ashish and Mr.Astosh will become chairman of a company are 0.4, 0.3 and 0.3 respectively. The probability that they will introduce a new product I the market are 0.08, 0.10 and 0.15 respectively. iii. The probability that the new product has been introduced is Response:

0.107 Question: The probability that Mr.Amar, Ashish and Mr.Astosh will become chairman of a company are 0.4, 0.3 and 0.3 respectively. The probability that they will introduce a new product I the market are 0.08, 0.10 and 0.15 respectively. iv. The rule used in answering the above questions is Response:

Baye's Feedback: This is the right choice. Question: If A, B and C are the events of getting odd number, even number and pirme numbers respectively when a die is rolled, then A, B and C are Response:

Not mutually exclusive Question: In classical approach to probability, the probability of an event is determined by Response:

Before conducting experiment

Question: The approach that will be adopted to find the probability that a student selected at random from a particular college will play snooker is Response: Empirical Question: The sample points of the random experiment when 2 coins are tossed at a time are given by Response:

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(HH, HT, TH, TT) Question: Events are said to be mutually exclusive if the occurrence of one Response: Prevents the occurrence of other Question: If "m" outcomes are favourable to an event A and "n" are total outcomes of an experiment then P(A) = Response:

m/n

Question: If the chances of occurrence of events are equal then events are called as Response:

Equally likely Question: In axiomatic approach value of P(Ai) is Response:

Between zero and one Question: In real life it is always not possible to conduct experiment, because of Response:

High cost Question: In statistical approach probability is determined Response: After conducting experiment Question: Probability of getting head when a coin is thrown, comes under Response: Priori approach Question: Subjective approach is more suitable if sample size is Response:

Less than ten

Question: The statistical tool that deals systematically and scientifically with uncertainty is known as Response: Probability Theory Question:

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When we toss three coins, total outcome is given by Response:

Question: "X" is a Poisson variate such that 2P(X = 0) = P(X = 1) then i. The mean of the distribution is Response:

2 Feedback: This is the right choice, P(X=x) = e-m *mx/x! So, 2P(X=0) = P(X=1) =>2 (e-m * m0/0!)= e-m * m1/1! =>2 e-m * 1= e-m * m (since m0/0!=1) =>m=2 (since e-m is common) Question: "X" is a Poisson variate such that 2P(X = 0) = P(X = 1) then ii. P(X = 0) is Response: 0.135 Feedback: Question: "X" is a Poisson variate such that 2P(X = 0) = P(X = 1) then iii. P(X 1) Response: 0.865 Question: "X" is a Poisson variate such that 2P(X = 0) = P(X = 1) then iv. P(1 x 3) Response:

0.90 Feedback: This is the right choice, P(X=1)+P(X=2)+P(x=3) (e-2*21/1!) + (e-2*22/2!) + (e-2 *23/3!) e-2 *2 ( 1+1+2/3) = > 2e-2 (8/3) 16/3(0.13533) = 0.721. Question: A company produces two products A and B. Out of 5 products of A one was found to be defective. Out of 6 products of B 2 were found to be defective i. Probability that exactly one will be defective in product B is Response: 0.263 Question: A company produces two products A and B. Out of 5 products of A one was found to be defective. Out of 6 products of B 2 were found to be defective ii. Probability that one of A and one of B will be defective is Response:

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0.1077 Feedback: Question: A company produces two products A and B. Out of 5 products of A one was found to be defective. Out of 6 products of B 2 were found to be defective iii. Probability that either one of A or two of B will be defective Response:

0.8388 Feedback: Question: A company produces two products A and B. Out of 5 products of A one was found to be defective. Out of 6 products of B 2 were found to be defective iv. The event of either getting 2 defectives in A or one defect in B are Response:

Mutually exclusive Feedback: Question: In a Binomial distribution p = 0.4 and n = 6 then i. P(x = 0) is Response:

0.046 Feedback: Question: In a Binomial distribution p = 0.4 and n = 6 then ii. P(X >= 4) is Response: 0.007 Question: In a Binomial distribution p = 0.4 and n = 6 then iii. P(X 1) is Response:

0.1296 Question: In a Binomial distribution p = 0.4 and n = 6 then iv. P(X = 3) is Response:

0.2764 Feedback: Question: The average closing of a savings banks account which is normally distributed was found to be 35 months with a S.D of 5 months. Then i. The probability that SB A/c will be closed on or before 25 months is Response: 0.4772 Feedback: Question: The average closing of a savings banks account which is normally distributed was found to be 35 months with a S.D of 5 months. Then ii. The probability that it will be alive between 30 and 40 months is Response:

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0.6826 Feedback: This is the right choice. Question: The average closing of a savings banks account which is normally distributed was found to be 35 months with a S.D of 5 months. Then iii. The probability that it will be alive after 42.5 months is Response:

0.0668 Feedback: Question: The average closing of a savings banks account which is normally distributed was found to be 35 months with a S.D of 5 months. Then iv. The probability that it exists between 40 and 45 months is Response:

0.1359 Question: There are 625 packets of a product. Each packet contains 4 products. The probability that a product will be defective is 0.2. Then i. Expected number of packets to contain zero defectives Response:

256 Question: There are 625 packets of a product. Each packet contains 4 products. The probability that a product will be defective is 0.2. Then ii. Expected number of packets to contains exactly two defectives Response:

96 Feedback: Question: There are 625 packets of a product. Each packet contains 4 products. The probability that a product will be defective is 0.2. Then iii. Expected number of packets to contain 3 or more defectives Response:

16 Feedback: This is the right choice. Question:

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There are 625 packets of a product. Each packet contains 4 products. The probability that a product will be defective is 0.2. Then iv. Expected number of packets to contain 1 or 2 defective Response:

352 Feedback: Question: 8C2 q8-2 p2 represents

Response:

Probability of 2 success Question: 8C2 q8-2 p2 represents Response:

Probability of 2 success Feedback: Question: If T2 = 28, N = 256, n = 8, p = q = 1/2 then T3 is Response:

56 Question: The 5th term in the expansion of (q+p)12 are a. 12C5 q5 p10 b. 12C6 q10 p5 c. 12C5 q5 p8 d. 12C4 q8 p4 a. c b. a c. b d. d Response:

d Feedback: Question: The probability of getting an occupational disease is 1/4. Out of 5 employees, the probability that exactly 2 will get the disease is Response: 135/512 Feedback: Question: Two examples of observed discrete frequency distributions are Response:

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No. of children in the family and No. of pedals in a flower Feedback: Question: Binomial distribution has Response: One mode Feedback: Question: For Binomial distribution np = 5 and npq= 4, then p = Response: 0.2 Feedback: Question: For the binomial (0.2 + 0.8)6, mean is Response:

4.8 Question: If n = 10, p = 0.3 for a Binomial distribution then its mean and variance are Response: 3, 2.1 Question: If x is a binomial variate with p = 0.46, then q = Response:

0.54 Feedback: This is the right choice,since q=1-p=1-0.46=0.54. Question: In the expansion of (q + p)n, there are Response:

n+1 terms Feedback: This is the right choice since the successive terms gives the probbaility from 0,1. Question: Number of pedals in a flower is an example of Response:

Binomial variate type Feedback: This is the right choice.

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Question: The Bernoulli variable assumes values Response:

0,1 Feedback: This is the right choice. Question: The expansion (0.2 + 0.8)6 will have Response:

7 terms Feedback: This is the right choice. Question: The mean and variance of Binomial distribution are Response:

np, npq

Question: From a population whose mean is 40, a random sample of 10 are taken. The sample mean is 39.2 and S.D 4. i. Population parameter and sample Statistics are Response:

40, 39.2 Question: From a population whose mean is 40, a random sample of 10 are taken. The sample mean is 39.2 and S.D 4. ii. Standard error of mean is Response:

1.33 Feedback: Question: From a population whose mean is 40, a random sample of 10 are taken. The sample mean is 39.2 and S.D 4. iii. 39.2 is known as Response:

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Point estimate Feedback: Question: From a population whose mean is 40, a random sample of 10 are taken. The sample mean is 39.2 and S.D 4. iv. The internal estimate can be found if Response:

Confidence level is given Feedback: This is the right choice. Question: From past records the liking of customers towards the colour of product Viz, Red, green, pink, blue and yellow were found to be in the ratio 2:3:5:3:2 respectively. A sample of 300 customer revealed the liking towards the colour as 39, 62, 100, 60, 41 respectively. i. The sample has followed Response: Law of statistical regularity Feedback: Question: From past records the liking of customers towards the colour of product Viz, Red, green, pink, blue and yellow were found to be in the ratio 2:3:5:3:2 respectively. A sample of 300 customer revealed the liking towards the colour as 39, 62, 100, 60, 41 respectively. ii. The population considered is Response:

Existent Feedback: Question: From past records the liking of customers towards the colour of product Viz, Red, green, pink, blue and yellow were found to be in the ratio 2:3:5:3:2 respectively. A sample of 300 customer revealed the liking towards the colour as 39, 62, 100, 60, 41 respectively. iii. Exact proportion has been found in the sample for colours Response:

Pink and Blue Question: From past records the liking of customers towards the colour of product Viz, Red, green, pink, blue and yellow were found to be in the ratio 2:3:5:3:2 respectively. A sample of 300 customer revealed the liking towards the colour as 39, 62, 100, 60, 41 respectively. iv. The method adopted to estimate population values results in Response: Saving of time and cost Feedback: Question: Sundaram motors wants to find the proportion of car owners using their cars. It collects information from RTO of Tamil Nadu by selecting ""n"" unit at fixed interval from Car Registration book The type of sampling adopted is known as Response:

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Systematic Feedback: Question: Sundaram motors wants to find the proportion of car owners using their cars. It collects information from RTO of Tamil Nadu by selecting ""n"" unit at fixed interval from Car Registration book The fixed interval is determined by Response: N/n Feedback: Question: Sundaram motors wants to find the proportion of car owners using their cars. It collects information from RTO of Tamil Nadu by selecting "n" unit at fixed interval from Car Registration book . The precaution that should be taken for this type of sampling is Response:

Periodic features should not exist Feedback: Question: Sundaram motors wants to find the proportion of car owners using their cars. It collects information from RTO of Tamil Nadu by selecting "n" unit at fixed interval from Car Registration book . . The observation made is Response:

Attribute Feedback: This is the right choice. Question: The Karnataka Government wishes to experiment with a policy on Twenty villages spread over the state. The success of the policy is measured by agreement or disagreement of the people i. The type of sampling that will be adopted is Response:

Multistage sampling Feedback: Question: The Karnataka Government wishes to experiment with a policy on Twenty villages spread over the state. The success of the policy is measured by agreement or disagreement of the people ii. The type of measurement made belongs to Response: Attribute

Question: The Karnataka Government wishes to experiment with a policy on Twenty villages spread over the state. The success of the policy is measured by agreement or disagreement of the people iii. The sampling units are Response:

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People in selected village Feedback: This is the right choice. Question: The Karnataka Government wishes to experiment with a policy on Twenty villages spread over the state. The success of the policy is measured by agreement or disagreement of the people iv. Scope and purpose of the survey is Response:

Crystal clear Question: A sample is Response:

Subset of population Question: Examples for existent and hypothetical populations are Response:

Getting defectives in a days production and height of people Feedback: Question: In what way statistical survey aimed at determining average blind people in an area Response:

Individuals in that area form population and blindness form observation Feedback: Question: In a study to find number of books in different subjects of a library Response: All books form population units and subject is the characteristics studied Feedback: Question: We resort to sampling technique if Response:

The units are destroyed or adversely affected

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Question: A population consisting of objects like book is called Response:

Existent population Feedback: Question: In short time we gather information about population by Response:

Sampling Feedback: Question: Sampling is the only available method in case of Response:

Infinite population Feedback: Question: The group, having some characteristics, consisting of all units is called Response:

Population Feedback: Question: The number of points on paper whose dimensions are 1 cm by 2cm is Response:

Infinite Question: A good Estimator should satisfy i. The criteria Response:

Consistency, Sufficiency, Efficiency and Unbiasedness Feedback:

Question: A good Estimator should satisfy ii. By consistency we mean Response:

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As n--> , the sample value approaches parameter value

Question: A good Estimator should satisfy iii. By sufficiency we mean Response: The estimator makes much use of information given Feedback: Question: A good Estimator should satisfy iv. By efficiency we mean Response: Standard error of statistics is small Feedback: Question: For the sample values 10, 12, 15, 18, 22, 25, 32, 34 i. Mean is Response:

21.0

Feedback: This is the right choice. Add all the values & divide by the no of values then (10+12+15+18+22+25+32+34)/8 = Question: For the sample values 10, 12, 15, 18, 22, 25, 32, 34 ii. The standard error of mean is Response:

3.14

Question: For the sample values 10, 12, 15, 18, 22, 25, 32, 34 \ iii. 95% confidence limits are Response:

21 7.4 Question: For the sample values 10, 12, 15, 18, 22, 25, 32, 34 iv. Coefficient of variation is Response:

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42.4% Question: Mean of a sample size of 15 is 40. Its standard deviation is 8 i. Standard error of mean is Response: 2.14

Question: Mean of a sample size of 15 is 40. Its standard deviation is 8 ii. The standard deviation being same, for the standard error to be 1.07, the sample size should be

Response:
38

Question: Mean of a sample size of 15 is 40. Its standard deviation is 8 iii. 95% confidence interval for the mean is Response:

40 3.5 Question: To know the popularity of a particular brand sales manager of a company gathered information by oral interview. Out of 600 people interviewed 420 actually use this brand. The director was not happy with the information. He would like to know the confidence level in the statement i. What type of information the director got from the sales manager Response: Point estimate Question: To know the popularity of a particular brand sales manager of a company gathered information by oral interview. Out of 600 people interviewed 420 actually use this brand. The director was not happy with the information. He would like to know the confidence level in the statement ii. The point estimate is given by Response:

70% Question: To know the popularity of a particular brand sales manager of a company gathered information by oral interview. Out of 600 people interviewed 420 actually use this brand. The director was not happy with the information. He would like to know the confidence level in the statement iii. 95% confidence interval for the estimate is Response:

0.7 0.037 Question:

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To know the popularity of a particular brand sales manager of a company gathered information by oral interview. Out of 600 people interviewed 420 actually use this brand. The director was not happy with the information. He would like to know the confidence level in the statement iv. 99% confidence interval for the estimate is Response: 0.7 0.048 Question: A point estimate is insufficient because Response: It does not give quantitative measure for its correctness Question: Estimates are necessary to Response:

Deal with uncertainty and make rational decisions Question: Given mean life of 100 bulbs as 1500 hrs and population standard deviation as 500 hours then 95% confidence interval for population mean is Response: 150098 Question: The criteria for a good estimator are Response:

Efficiency, sufficiency, unbiasedness and consistency Question: Uses of standard error are Response: To give reliability measure of the estimate and give confidence interval

Question: A sufficient estimator make maximum use of Response:

Sample information Question: An interval estimate is Response:

A range of values

Question: As sample size increases the statistic is said to more Response:

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Consistent Question: Better decisions can be obtained by Response:

Estimates Question: It is not possible to avoid as much error as possible by Response:

Guess work Question: Prospective investors make estimates concerning the behaviour of Response: Money value Question: Standard error of mode is 1.20 and that of median is 1.02, then efficient estimator is Response:

Median Question: Statistical inference is based on Response:

Estimation and hypothesis testing Question: The lesser the standard error of a statistic then it is said to be more Response:

Efficient Question: The mean value of an unbiased estimator is always Response: Equal to population vlue

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Question:

Response:

b Question:

Response:

Question:

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Response:

a Feedback:

Question:

Response:

c Question: A null hypothesis states that Response:

There is no significant difference between observed and theoretical values Question: By Statistical error we mean Response:

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There is a difference between sample value and population due to chance causes Question: Testing of hypothesis a. Proves H0 is true b. Does prove H0 is false c. Accepts or Rejects H0 d. Accepts HA Response:

c Question: Type I error is set to a very high level when Response:

It is dangerous to accept a wrong hypothesis Question: Type I error occurs if a. H0 is accepted when it is true b. H0 is rejected when it is false c. H0 is accepted when it is false d. H0 is Rejected when it is true Response:

d Question: A hypothesis makes a statement about Response: Parameters Question: If the test of significance accepts a null hypothesis, then it means that a. H0 is proved b. HA is proved c. Since H0 is not disproved we accept hypothesis d. H0 is disproved Response:

Question: Large sample test are used if the sample size is Response: Greater than 30 Question: Type I error occurs when sample is taken from Response:

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True population and test rejects it Feedback:

Question: Upper and lower limits of acceptance region is determined by Response:

Level of significance Feedback: Question:

Response: c

Question:

Response:

a Feedback: This is the right choice

Question:

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Response:

b Feedback: Question:

Response:

Question: x2 - distribution is a Response:

Right skewed distribution with mode dividing it into two equal positions Question: To apply X2 test a sample must satisfy the conditions Response:

Taken from any population and selected at random Question: x2 test is a Response: Non parametric test and takes positive values only Question: A two-tailed test of two variances is to be performed for sample sizes of 15 and 12. If = 0.10 which of the following represents the upper value to which S12 / S22 should be compared Response: F(14, 11 0.05) Question: In 500 observations classified into three groups the theoretical values should be in the ratio of 5:3:2. Then the expected values of the classes are respectively

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Response: 250, 150, 100 Question: A two-tailed test of two variances is to be performed for sample sizes of 15 and 12. If = 0.10 which of the following represents the upper value to which S12 / S22 should be compared Response:

F(14, 11 0.05) Question:

Response:

c Feedback: This is the right choice. Question: If the degrees of freedom increases then the value of X2 will Response: Increase Question: X2 is used to test Response:

Several proportions Feedback: This is the right choice. Question: It cannot be used to test Response:

Estimation of parameter value Feedback: Question: It is considered as Response:

Continuous distribution only

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Feedback: Question:

Response: b Question: One of the assumption is the population distribution must be Response:

Need not know anything about the distribution Feedback: This is the right choice.

Question:

Response:

c Feedback: Question: X2 test fulfills Response:

Additive property Question: The sum of squares of "n" independent standard normal variates form Response: Chi-square distribution Question: Value of chi-square varies from a. - to + b. 0 to c. 0 to n

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d. - to 0 Response:

Question: Chi-square Distribution is Response:

Right - skewed Feedback: This is the right choice Question: Chi-square distribution is divided into two equal portions by a. Mean b. Mode c. Median d. Response:

c Feedback: This is the right choice.

Question:

Response:

c Feedback: This is the right choice Question:

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Response:

b Feedback: Question:

Response:

d Question:

Response: a Feedback: Question: If n1 = 10 with S1 and n2 = 15 with S2 such that S2 > S1 then F-Statistics is given by a. S12 / S22 with 9 and 14 D.O.F b. S22 / S12 with 9 and 14 D.O.F c. S22 / S12 with 14 and 9 D.O.F d. S12 / S22 with 14 and 9 D.O.F Response:

c Question: Two assumption to be satisfied for applying F-test are Response: Samples are independent of each other and they should be drawn from Normal population Question: If n1 = 11 and n2 = 8 with S1 = 5 and S2 = 2 then the null hypothesis will be Response:

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Rejected Question: Sum of squares of due to total (SST) is split into sum of squares due to factors (SSF) and sum of squares due to error (SSE). The F-test is Response:

MSF / MSE Question: ANOVA uses a. t Test b. F Test c. Z Test d. X2 Test Response: b Question: "F" - test has always Response:

Two degrees of freedom Question: Samples must be drawn such that they are Response: Independent of each other Question: To apply F - test the samples are drawn Response:

At random from Normal population Question: It is used to test Response: Between variances Question: To apply ANOVA population from which samples are drawn must have Response:

Equal variances Score of NA Question: If F~F(v1,v2) then 1/F~ Response: F (v2, v1) Question: The F - Statistics is given by Response: Variance between samples / Variance within samples Question: F statistics is defined as a. S21 / S22 where S1 < S2 b. S21 /S22 where S1 > S2

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c. S22 /S21 where S1 > S2 d. S1 /S2 where S1 > S2 Response: b Question: Analysis variance splits the total variation into Response:

Within groups and between groups Question: The F - Statistics is given by Response: Variance between samples / Variance within samples Question: It is used to test Response: Between variances Question: If F~F(v1,v2) then 1/F~ Response: F (v2, v1) Question: ANOVA uses a. t Test b. F Test c. Z Test d. X2 Test Response: b Question: "F" - test has always Response:

Two degrees of freedom Question: To apply F - test the samples are drawn Response:

At random from Normal population Question: F statistics is defined as a. S21 / S22 where S1 < S2 b. S21 /S22 where S1 > S2 c. S22 /S21 where S1 > S2 d. S1 /S2 where S1 > S2 Response: b Question: Samples must be drawn such that they are Response: Independent of each other Question:

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To apply ANOVA population from which samples are drawn must have Response:

Equal variances Score of NA Question: Analysis variance splits the total variation into Response:

Within groups and between groups Question:

Response:

d Question:

Response:

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Question:

Response: a Feedback:

Question:

Response:

b Question: Correlation is said to be linear and non-linear if Response:

The ratio of change between the variables is constant and change in one variable is equal to the percentage ch Question: For perfectly positive and negative correlation the dots in scatter diagram must lie along a st.line that runs Response:

Along a straight line that runs from left bottom to right bottom and left top to right bottom respectively Question: In partial correlation the relationship between two or more variables are studied Response: Between two variables keeping others constant Question: If EXY = 150, EX2 = 40 EY2 = 1000 then r is equal to Response:

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0.4 Question: Correlation measures Response:

The relationship between two variables and helps estimation Question: Correlation between two variables may be due to Response: Small sample size and third factor Question: Suppose there is positive correlation between the number of children in the house and number of rats in the house. Then such correlations are known as Response:

Non-sense correlation Question: The correlation coefficient is not affected by Response:

Change of scale and origin Question: The value of Karl Pearson's correlation coefficient always is Response:

Lies between minus one and plus one -2< r< 2 Question: Can we say rxy = ryx Response:

Yes Question: Existence of correlation between two variables may be due to Response: A Third factor Question: If the dots lie all over the graph then the variables have Response: Zero correlation Question: We can quantify the correlation between two variables by scatter diagram Response:

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False Question: If the dots lie close to a line that runs from left top to right bottom, then the variables are said to be Response:

Negatively related Question: One function of correlation analysis is Response: To test the relationship between variables Question: If the dots lies exactly on a straight line that runs from left bottom to right top, then the correlation is said to be Response:

Perfectly positive Question: In simple correlation the relationship is studied between Response:

Two variables Question: Correlation coefficient has Response: No. units attached to it Question: If two variables move in the opposite direction then they are said to be Response: Negatively correlated Question: In multiple correlation we study the relationship between variables Response:

Simultaneously Question: Scatter Diagram is also known as Response: Dot diagram Question: If the value of r = -1, then the relationship between the variables is said to be Response: Perfectly negatively correlated Question: One of the Statistical tool available to measure the relationship between variables is Response: Coefficient of correlation Question:

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If two variables move in the same direction there they are said to be Response: Positively correlated Observed correlation may not exist in population due to Response: Small sample size Question: In finding the correlation between supply and demand, we can say the dependent variable as Response:

None Question: Main basis for forecasting is Response: Time series Question: Business Forecasting can be done on Response: Whole sale prices Question: Forecasting can be made only on Response:

Any specific term Question: Business Forecasting deals with Response:

Analysis of past and present economic conditions Question: Business parameters for specific industry deal with Response: Specific business activities Question: Prediction is Response: Purely mechanical extrapolation Question: ii. Health statistics published by Government of India acts as a barometer for Response:

Planning health-care activities by Government Question: An economist will like to predict the cost of living index due to hike in petrol prices ii. He will collect information on Response: Cost of living index and corresponding rises in petrol price Question:

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A company wishes to increase its sales. It experiments with various slabs of expenses in Advertisement and collects data. i. The most suitable method of forecasting will follow Response:

Time-lag theory Question: An economist will like to predict the cost of living index due to hike in petrol prices i. For analysis he will study Response:

Past and Present behaviour of cost of living index due to rise in petrol price Question: A company wishes to increase its sales. It experiments with various slabs of expenses in Advertisement and collects data. iv. According to Rhythm theory Response:

All economic and business in opposite directions Question: iv. Extrapolation method of business forecasting assumes Response: Constant growth in Arithmetic trend Question: A company wishes to increase its sales. It experiments with various slabs of expenses in Advertisement and collects data. iii. Action and reaction theory finds Response:

Four phases of Business activity Question: i. The export and import statistics of leather and leather related goods acts as a barometer for Response: Specific Business activities Question: An economist will like to predict the cost of living index due to hike in petrol prices iii. The analysis can be based on Response: Regression Models Question: A Business man would like to know what is Business forecasting. He has the following doubts iii. Objective of Business forecasting is Response: To give a measure for uncertainty and reduce uncertainty Question: A Business man would like to know what is Business forecasting. He has the following doubts iv. What is a prediction Response:

Estimates based on past data Score of NA Question: A company wishes to increase its sales. It experiments with various slabs of expenses in Advertisement and collects data. ii. To find the relationship between advertisement expenses and sales; it should use Response:

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Lead correlation Question: An economist will like to predict the cost of living index due to hike in petrol prices iv. If he wants to predict in terms of the percentage increase he should use Response:

Modified exponential curve Question: A Business man would like to know what is Business forecasting. He has the following doubts i. In which one of the following cases forecast will not be applied Response: Buying Mango Question: A Business man would like to know what is Business forecasting. He has the following doubts ii. Business forecasting means Response: Just analysis of past economic conditions Question: iii. Business barometer is a Response:

Scientific and reliable tool for making decisions Question: Business forecasting deals with Response:

Analysis of past and economic drawing inferences about probable future Business conditions Question: Business forecasting helps in Response: Reducing uncertainty Question: Steps in business forecasting involve the following in that order Response:

Understanding the past, determining the phase of business activity to be measured, selection and complication Question: Business forecasting is necessary because of Response: Growing competition and trends towards automation Question: The difference between prediction and projection is Response:

Prediction is an estimate based on past data and projection is an estimate extrapolated values Question: Mrs. Mallini is a science student. She has data on development of micro organism over regular interval of time. She wants to know the relationship between time and development of micro organism. She approaches Mrs. Shalini, a Statistician and clears certain doubts. iv. The study of time series helps us Response:

To identify the various forces that affect its behaviour Question:

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Mrs. Mallini is a science student. She has data on development of micro organism over regular interval of time. She wants to know the relationship between time and development of micro organism. She approaches Mrs. Shalini, a Statistician and clears certain doubts. ii. Time series is in a month not caused by Response:

Individuals liking Question: Mrs. Mallini is a science student. She has data on development of micro organism over regular interval of time. She wants to know the relationship between time and development of micro organism. She approaches Mrs. Shalini, a Statistician and clears certain doubts. i. By time series we understand Response: Set of values recorded over a period at regular interval Question: Mrs. Mallini is a science student. She has data on development of micro organism over regular interval of time. She wants to know the relationship between time and development of micro organism. She approaches Mrs. Shalini, a Statistician and clears certain doubts. iii. The one of the components of time series is Response: Erratic variation Question: Time series analysis helps us Response:

To identify the forces that influences the variation in time series Question: Time series analysis is utilized to Response: Compare the behaviour of the variable over different period of time Question: A time series is Response: A set of numerical values of a given variable observed at equal intervals of time Question: Seasonal variations refers to Response: Variations in time series that are periodic in nature and occur regularly over short periods during a year Question: Long term trend refers to Response:

Smooth long term growth or decline containing a minimum of 4 cycles Question: Non-linear trend occurs when Response:

When variable move at different rates Question: Irregular variations have amplitude and length of period Response:

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Neither regular nor equal Question: Irregular variations are also known as Response: Random Question: A time series is Response:

Numerical values recorded at successive intervals of time Question: Analysis of time series deals with Response: Studying the effect of various factors over time

Question: Irregular variations are caused by Response: Floods Question: The long-term oscillations that are more than a year is called Response: Cyclical variation Question: Variations that occur within a year are called Response:

Seasonal variations Question: Changes which occur due to boom and depression in time series are known as Response:

Cyclical variation Question: The time series can be used to Response:

Identify various forces that affect its behaviour Question: In weighted average of relative the number of commodities involved is Response:

More than one Question: When comparative measure is in respect of physical quantities then it is called Response:

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Volume Index Question: The first step in the construction of index number is to decide on Response:

Purpose of index numbers Question: The statistical measure used to study the changes in a group of related variable over time is Response:

Index numbers Question: The commodity selected should be Response:

non-tangible Question: Quantity index is based on Response: Variables Question: Which is not a characteristics of Index number Response: Expressed as qualitative values Question: The value of a variable in a given year divided by the value of the same variable in a specified year is called Response:

Relative Question: Base year values are taken as Response:

Standard Question:

Response: b Question:

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Response:

c Question:

Response:

d Question:

Response: a Question: J.N.Jewellery's wants to find the changes in Gold price and determine the trend in Indian market. The statement regarding the purpose of index number should be Response: Changes in price during last 15 years in India Question: The price of a commodity in 2005 was Rs.25/ kg. In 2008 it is Rs.120/4 kg. Then price index is Response:

120

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Score of NA Question: An index number is a special ______ and is designed to measure Response:

Average, changes in a group of related variables over time Question: Production relative and quantity relative deal with Response: Production changes and Quantity changes Question: The index number for 1998 is 120 and for 2002 is 150. Then index number 1998 calculated with 2002 as base year is Response: 80 Question: The price of a commodity in 2005 was Rs.25/ kg. In 2008 it is Rs.120/4 kg. Then price index is Response:

120 Question: J.N.Jewellery's wants to find the changes in Gold price and determine the trend in Indian market. The statement regarding the purpose of index number should be Response: Changes in price during last 15 years in India Question: Production relative and quantity relative deal with Response: Production changes and Quantity changes Question: An index number is a special ______ and is designed to measure Response:

Average, changes in a group of related variables over time Question: The index number for 1998 is 120 and for 2002 is 150. Then index number 1998 calculated with 2002 as base year is Response: 80

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