Business Statistics and Research Methods MCQs

Question 1

Which of the following is true where data is highly positively skewed?

Accepted Answer

The mean will tend to overstate the average

Answer

The median is the least representative average

Answer

All averaging techniques will produce equally acceptable results

Answer

The mode will tend to overstate the average

Question 2

Two regression lines coincide if

Accepted Answer

$$r = \pm 1$$

Answer

$$r = 0$$

Answer

$$r = \frac{1}{2}$$

Answer

$$r = - \frac{1}{2}$$

Question 3

The law of statistics, which says 'Moderately large number of items chosen at random from a large group possess the characteristics of the large group', is referred to as:

Accepted Answer

The Law of Statistical Regularity

Answer

The Central Limit Theorem

Answer

The Law of Inertia of Large Numbers

Answer

None of the above

Question 4

Correlation coefficient by least square method is obtained by the following formula.

Accepted Answer

$$\sqrt {1 - \frac{{{S^2}y}}{{{\sigma ^2}y}}} $$

Answer

$$1 - \frac{{{S_y}}}{{{\sigma _y}}}$$

Answer

$$\sqrt {1 - \frac{{{\sigma ^2}y}}{{{S^2}y}}} $$

Answer

$$\frac{{{S^2}y}}{{{\sigma ^2}y}}$$

Question 5

Find the median from the following data. Gross Profit (Percent of Sales) Number of Companies 0-10 21 10-20 32 20-30 43 30-40 34 40-50 23

Accepted Answer

25.46

Answer

23.4

Answer

40.4

Answer

38.53

Question 6

5 red balls, 5 green balls and 5 yellow balls in a bag. If one ball is drawn at random then probability of that ball will be red

Accepted Answer

$$\frac{1}{3}$$

Answer

$$\frac{1}{2}$$

Answer

$$\frac{1}{4}$$

Answer

$$\frac{1}{5}$$

Question 7

Which of the following is the main benefit of snowball sampling?

Accepted Answer

All of the above

Answer

Access deviant or hidden populations

Answer

Theorise inductively in a qualitative study

Answer

Overcome the problem of not having an accessible sampling frame

Question 8

What proportion of area of a normal curve is included between (i) σ (ii) 2σ (iii) 3σ distances from the mean?

Accepted Answer

62.27%, 95.45%, 99.73%

Answer

34.13%, 47.72%, 49.87%

Answer

60%, 70%, 90%

Answer

None of the above

Question 9

In a series, the difference of the two quartiles is 10, their sum is 25 and the median is 6.5, then the coefficient of skewness will be

Accepted Answer

1.2

Answer

0.12

Answer

12

Answer

2.5