Business Statistics and Research Methods MCQs

The process of thoroughly checking the collected data to ensure optimal quality levelis referred to as:

Least Square Method of fitting a line (the line of best fit or the regression line) through the scatter diagram is a method, which . . . . . . . . the sum of the squared vertical deviations from the fitted line.

Non-sampling error occurat the time of

The word 'statistics' is used as OR How the term statistics used?

Husband and wife apply for two vacant spots in a company. If the probability of wife getting selected and husband getting selected are 3/7 and 2/3 respectively, what is the probability that neither of them will be selected?

Assertion (A) Normal distribution curve is a bell shaped curve where mean, median and mode are equal to each other. Reason (R) As the same size increases, all small-sample tests tends to merge with normal distribution.

Index number are expressed in

In the formula $$R = 1 - \frac{{6\sum {D^2}}}{{N\left( {{N^2} - 1} \right)}},\,'D'$$ stands for·

Arrange the following steps in sequence for calculation of test of significance for large sample. 1. State the null hypothesis. 2. Compute the statistic. 3. Determine the level of significance. 4. Compute the critical value by testing the value of 'Z'. 5. Compare the value of test statistic 2 with the critical value to arrive at a decision.