Tag: business economics and quantitative methods

Questions Related to business economics and quantitative methods

FERA stands for ____________.

business economics and quantitative methods balance of payments exchange rate balance of payments and exchange rate balance of trade and balance of payments

  1. Foreign Export Revaluation Act

  2. Funds Exchange Resources Act

  3. Finance and Export Regulation Association

  4. Foreign Exchange Regulation Act

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Correct Option: D
Explanation:

FERA stands for Foreign Exchange Regulation Act, 1973.

India has achieved full convertibility of the Rupee in _________.

business economics and quantitative methods balance of payments exchange rate balance of payments and exchange rate balance of trade and balance of payments

  1. current account

  2. capital account

  3. both (a) and (b)

  4. neither (a) nor (b)

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Correct Option: A

In commodity exchanges in India, Index Futures are not permitted, as some of the provisions of the FCRA do not allow the same. What is the full form of FCRA?

business economics and quantitative methods balance of payments exchange rate balance of payments and exchange rate balance of trade and balance of payments

  1. Foreign Commodities Regulation Act

  2. Forward Commodities Repurchasing Act

  3. Forward Contracts Regulation Act

  4. Financial Contracts Reformation Act

Show answer
Correct Option: C
Explanation:

The full form of FCRA is Forward Contracts Regulations Act . 


In 1952 , FCRA act was enacted to provide for the regulation of certain matters relating to forward contracts , the prohibition of options in goods and for matters connected therewith.

Forward contract is a contract between two parties to buy or sell an asset at a specified future time at a price agreed up on today. Index futures are contracts based on a financial index , which can be bought or sold for speculative or hedging reasons , or for future delivery. 

The median of a symmetrical distribution, whose lower and upper quartiles are 60 and 80 respectively, is

business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

  1. 60

  2. 80

  3. 70

  4. None of these

Show answer
Correct Option: C
Explanation:

Given,  lower quartile $=60$ and upper quartile $=80$ 
$\therefore$ median $=\frac{\mbox{
lower quartile
}+\mbox{
upper quartile
}}{2}=\dfrac{60+80}{2}=70$

Which of the following are limitations of range?

business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

  1. It is not based on all the values.

  2. As long as the minimum and maximum values remain unaltered, any change in other values does not affect range.

  3. It can not be calculated for open-ended frequency distribution.

  4. All of these

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Correct Option: D

Which of the following is true with respect to range?

business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

  1. Higher value of Range implies higher dispersion and vice-versa

  2. Range is unduly affected by extreme values.

  3. It is not based on all the values.

  4. All of these

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Correct Option: D

Which of the following is another term for quartile division?

business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

  1. Inter quartile range

  2. Semi Inter Quartile Range

  3. Inter Quartile Deviation

  4. None of these

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Correct Option: B

Range =

business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

  1. Largest value - Smallest value

  2. Largest value divided by 2

  3. Both A and B

  4. None of the above

Show answer
Correct Option: A
Explanation:

Range refers to the value of variation between the largest and the smallest values in a particular data set. It can be calculated as the difference between the upper limit and lower limit of a particular set of data.

In a frequency distribution, Range is the difference between _________ and __________

business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

  1. upper limit of the highest class, the lower limit of the lowest class

  2. lower limit of the highest class, the upper limit of the lowest class

  3. A or B

  4. None of the above

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Correct Option: A

The middle value of an ordered series is called _______.

business economics and quantitative methods measures of dispersion and skewness quartile deviation or semi-interquartile range interquartile range histograms and frequency distribution diagrams

  1. $2nd$ quartile

  2. $5th$ decile

  3. $50th$ percentile

  4. All the above

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Correct Option: D