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Business Statistics MCQs and Answers

300+ TOP Business Statistics

MCQs and Answers

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Business Statistics Multiple Choice Questions
1. Index number for base year is always considered as——

A. 100

B. 101

C. 200

D. 201

Answer:

A.100

2. Index number is a special type of ———-

A. Average

B. dispersion

C. correlation

D. none of the above

Answer:

A.Average

3. A period for which index number is determined is called

as ——

A. current period

B. base period

C. . Normal period.

D. None of the above

Answer:

A.current period
4. Laspeyre’s index = 110, Paasche’s index = 108, then Fisher’s
Ideal index is equal to:

A. 110

B. 108

C. 100

D. 109

Answer:

D.109

5. Index number calculated by Fisher’s formula is ideal

because it satisfy:

A. Circular test

B. Factor reversal test

D. All of the above

Answer:

D.All of the above

6. In the regression equation Y = 75.65 + 0.50X, the intercept

is

A. 75.65

B. 0.5

C. 1

D. intereminable

Answer:

A.75.65
7. The coefficient of determination must be

A. between -1 and+1

B. between -1 and0

C. between 0 and 1

D. equal to SSE/(n-2)

Answer:

A.between -1 and+1

8. In the regression equation Y = a+bX, the Y is called:

A. Independent variable

B. Dependent variable

C. Continuous variable

D. None of the above

Answer:

B.Dependent variable

9. How many type of data are there in Statistics

A. 2

B. 3

C. 4

D. 5

Answer:

A.2

10. is data that is collected by a researcher from first-hand

sources

A. Primary data

B. Secondary data

C. both

D. none

Answer:

A.Primary data

11. What are the method of collecting Primary Data

A. Interview

B. observation

C. Questionnaire

D. All of the above

Answer:

D.All of the above

12. A measure of is a single value that attempts to describe

set of data by identifying the central position within that set
of

A. Central Tendency

B. Mean

C. Median

D. Mode

Answer:

A.Central Tendency
13. Find the mean of 13,18,13,14,13,16,14,21,13

A. 123.444

B. 125.666

C. 154

D. 132

Answer:

A.123.444

14. How many types of series are there

A. 3

B. 2

C. 5

D. 4

Answer:

A.3

15. Find the median of the set = { 11,22,33,55,66,99 }

A. 55

B. 44

C. 33

D. 22

Answer:

B.44

16. Find the mode of the Set = {1,3,3,6,9}

A. 3
B. 6

C. 9

D. 1

Answer:

A.3

17. Roger bowled 7 games last weekend. His scores are: 155,
165,138, 172, 127, 193, 142. What is the range of Roger’s
scores?

A. 77

B. 66

C. 155

D. 38

Answer:

B.66

18. Find the mode of the set (8, 5, 7, 10, 15, 21, 5, 7, 2, 5)

A. 15

B. 21

C. 7

D. 5

Answer:

D.5

19. Find the median of the set of numbers: 100, 200, 450, 29,
1029,300 and 2001.

A. 300
B. 29

C. 7

D. 4080

Answer:

A.300

20. The median of the data 13, 15, 16, 17, 19, 20 is:

A. 30/2

B. 31/2

C. 33/2

D. 35/2

Answer:

C.33/2

21. Find the mode of 8, 5, 7, 10, 15, 21, 5, 7, 2, 5

A. 5

B. 7

C. 2

D. 10

Answer:

B.7

22. Find the median of the set of numbers: 21, 3, 7, 17, 19, 31,
46,20 and 43.

A. 19

B. 20
C. 3

D. 16

Answer:

B.20

23. The following numbers represent the ages of people on a

bus: 3,6, 27, 13, 6, 8, 12, 20, 5, 10. Calculate their mean of their
ages.
A. 11

B. 6

C. 9

D. 110

Answer:

A.11

24. if the mean is 11 and the median is13 then the value of
mode is

A. 15

B. 13

C. 11

D. 17

Answer:

D.17

25. If the mode is 14 and value of mean is 5 then the value of

median is

A. 12
B. 18

C. 8

D. 14

Answer:

C.8

26. The sample mean is a

A. Parameter

B. statistics

C. variable

D. constant

Answer:

B.statistics

27. The suitable average for qualitative data is

A. mean

B. median

C. mode

D. Geometric mean

Answer:

B.median

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