Business Statistics and Research Methods MCQs

Question 1

The expected value of a random variable is the:

Accepted Answer

mean value over an infinite number of observations of the variable

Answer

value that has the highest probability of occurring

Answer

largest value that will everoccur

Answer

most common value over an infinite number of observations of the variable

Question 2

In a Poisson probability distribution:

Accepted Answer

the mean and variance of the distribution are the same (equal)

Answer

the probability of success is alwaysgreater than 5

Answer

the number of trials is always less than 5

Answer

it always contains a contingency table

Question 3

Standard error of estimate is obtained by the following formula.

Accepted Answer

$$\sqrt {\frac{{\sum {{\left( {Y - {Y_c}} \right)}^2}}}{N}} $$

Answer

$$\frac{{\sum {{\left( {Y - \overline Y } \right)}^2}}}{N}$$

Answer

$$\frac{{\sum {{\left( {Y - {Y_c}} \right)}^2}}}{N}$$

Answer

$$\sqrt {\frac{{\sum {{\left( {Y - \overline Y } \right)}^2}}}{N}} $$

Question 4

Which of the following steps would be included in hypothesis testing? 1. State the null and alternative hypothesis. 2. Set the significance level before the research study. 3. Eliminate all outliers. 4. Obtain the probability value using a computer program such as SPSS. 5. Compare the probability value to the significance level and make the statistical decision.

Accepted Answer

1, 2, 4 and 5

Answer

1, 3 and 4

Answer

3, 4 and 5

Answer

2, 3, 4 and 5

Question 5

Which one of the following is not the correct property of normal distribution?

Accepted Answer

Standard deviation is the sole parameter of the distribution

Answer

Continuous distribution

Answer

Equality of central values (Mean, Mode and median)

Answer

Uni-modal distribution

Question 6

While calculating which mean the next year's value is included but the previous value is not omitted?

Accepted Answer

Moving mean

Answer

Cumulative mean

Answer

Aggregated mean

Answer

Taxonomic mean

Question 7

Probable error is-

Accepted Answer

0.6745 S.E.

Answer

0.6457 S.E.

Answer

0.6753 S.E.

Answer

0.7645 S.E.

Question 8

Which of the following can be reduced by proper interviewer training?

Accepted Answer

Measurement error

Answer

Sampling error

Answer

Non-response error

Answer

Coverage error

Question 9

The price index that uses base year quantities as weights is called

Accepted Answer

Laspeyere's index

Answer

Passche's index

Answer

Fisher's ideal index

Answer

Wholesale price index