Tag: economics

Questions Related to economics

A numerical value used as a summary measure for a sample, such as sample mean, is known as a:

economics partition values introduction to statistics introduction to statistical method and econometrics frequency distribution tables and graphs

  1. population parameter

  2. sample parameter

  3. sample statistic

  4. population mean

Show answer
Correct Option: C
Explanation:

If it pertains to sample it is called a statistic, if it pertains to the population it is called a parameter.
Ans-Option $C$.

Find the correct descending order
$9.1, 3.7, 5.6, 8.3, 11.5, 10.6$

economics partition values introduction to statistics introduction to statistical method and econometrics frequency distribution tables and graphs

  1. $8.3,11.5, 10.6, 9.1, 5.6, 3.7$

  2. $11.5, 10.6, 9.1, 8.3, 5.6, 3.7$

  3. $11.5, 10.6, 9.1, 8.3, 3.7, 5.6$

  4. None of these

Show answer
Correct Option: B
Explanation:

Given series is $9.1, 3.7, 5.6, 8.3, 11.5, 10.6$

Descending means high to low.
Therefore, descending order of the given series is $11.5, 10.6, 9.1, 8.3, 5.6, 3.7$.

Find the correct ascending order of $6.3, 5.9, 9.8, 12.3, 5.6, 4.7$.
economics partition values introduction to statistics introduction to statistical method and econometrics frequency distribution tables and graphs

  1. $4.7, 5.6,6.3,5.9. 9.8, 12.3$

  2. $4.7, 5.6, 5.9, 6.3, 12.3, 9.8$

  3. $4.7, 5.6, 5.9, 6.3, 9.8, 12.3$

  4. None of these

Show answer
Correct Option: C
Explanation:
Given order is $6.3, 5.9, 9.8, 12.3, 5.6, 4.7$.
Ascending means low to high. 
Therefore, rearranging the given series again, we get $4.7, 5.6, 5.9, 6.3, 9.8, 12.3$

Find the correct descending order
$2, 0, 3, 4, 1, 2, 3, 5$

economics partition values introduction to statistics introduction to statistical method and econometrics frequency distribution tables and graphs

  1. $5, 4, 3, 2,3, 2, 1, 0$

  2. $5, 4, 3, 3, 2, 2, 1, 0$

  3. $4,5, 3, 3, 2, 2, 1, 0$

  4. $5, 4, 3, 3, 2, 2, 0,1$

Show answer
Correct Option: B
Explanation:
Given, series is $2,0,3,4,1,2,3,5$
Descending means high to low.
Therefore, the descending order is $5,4,3,3,2,2,1,0$.

Which one of the following is not correct?

economics partition values introduction to statistics introduction to statistical method and econometrics frequency distribution tables and graphs

  1. Statistics is liable to be misused

  2. The data collected by the investigator to be used by himself are called primary data

  3. Statistical laws are exact

  4. Statistics do not take into account of individual cases

Show answer
Correct Option: C
Explanation:

(A) Statistics is liable to be misused is wrong 

(B) the data collected by the investigator to be used simself are called primary data wrong
(C) Statistical laws are extract is correct
(D) statistics do not take into account of individual cases is wrong 
Then is the correct answer.

Which of the following represents statistical data?

economics partition values introduction to statistics introduction to statistical method and econometrics frequency distribution tables and graphs

  1. The names of owners of shops located in a shopping complex

  2. A list giving the names of all states of India

  3. A list of all European countries and their respective capital cities

  4. The volume of rainfall in a certain geographical area recorded every month for 24 consecutive months

Show answer
Correct Option: D

A double graph is useful for _____ of data

economics partition values introduction to statistics introduction to statistical method and econometrics frequency distribution tables and graphs

  1. observation

  2. comparison

  3. seeking

  4. none of these

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Correct Option: B
Explanation:

double graph is useful for comparison

Who introduced the first book of statistics in its title "Contribution to Vital Statistics"?

economics partition values introduction to statistics introduction to statistical method and econometrics frequency distribution tables and graphs

  1. Gottfried Achenwall

  2. Francis G.P. Neison

  3. Sir John Sinclair

  4. Johnson

Show answer
Correct Option: B
Explanation:

Francis GP Neison introduced the first book of statistics in its title 'Contribution to Vital Statistics'.

______ was used by the British mainly for administrative and governmental bodies.

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  1. Mensuration

  2. Calculation

  3. Statistics

  4. Geometry

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Correct Option: C
Explanation:

Statistics was used by the British mainly for administrative and governmental bodies.

Which question can be answered by writing a numeral?

economics partition values introduction to statistics introduction to statistical method and econometrics frequency distribution tables and graphs

  1. What is your age?

  2. What is your father's name?

  3. What is your education?

  4. What is your ambition?

Show answer
Correct Option: A
Explanation:

Numeral means numeric characters have to be involved. Numeric characters are numbers ranging from 0-1 and combinations between them.

Age has to contain a number,hence it is a numeral.
Name, education and ambition contain letters that is A to z and not numerals.
Hence only age can be answered by writing a numeral.