Tag: economics

Questions Related to economics

The measure of dispersion is

economics measures of dispersion coefficient of variance variance and standard deviation statistics and probability range and mean deviation

  1. Mean deviation

  2. S.D.

  3. quartile deviation

  4. all of the above

Show answer
Correct Option: D
Explanation:

Measures of dispersion include:
1)Sample standard deviation
2)Interquartile range (IQR) or Interdecile range
3)Range
4)Mean difference
5)Median absolute deviation (MAD)
6)Average absolute deviation (or simply called average deviation)
7)Distance standard deviation

The measure of dispersion is

economics measures of dispersion coefficient of variance variance and standard deviation statistics and probability range and mean deviation

  1. M.D.

  2. S.D.

  3. Q.D.

  4. All of these

Show answer
Correct Option: D
Explanation:

Mean deviation, standard deviation as well as quartile deviation is the measure of dispersion.
Hence, all of these are measure of dispersion.
(It is well known fact)


Which one is correct?
Statement 1:Positional measure of dispersion describes about the position that a particular data value has within a data set.
Statement 2:Quartiles and percentiles are positional measure of dispersion.

economics measures of dispersion coefficient of variance variance and standard deviation statistics and probability range and mean deviation

  1. $1$ only

  2. $2$ only

  3. $1$ and $2$ both

  4. Neither $1$ nor $2$

Show answer
Correct Option: C
Explanation:

Statement 1: is correct because positional measure of dispersion describes about the position that a particular data value has within a data set.
Statement 2:is correct because quartiles and percentiles are positional measure of dispersion.

If $\sum\limits _{i = 1}^9 {\left( {{x _i} - 5} \right) = 9}$ and $\sum\limits _{i = 1}^9 {{{\left( {{x _i} - 5} \right)}^2}}  = 45$, then the standard deviation of the $9$ items ${x _1},{x _2},.....,{x _9}$ is

economics measures of dispersion coefficient of variance variance and standard deviation statistics and probability range and mean deviation

  1. $2$

  2. $3$

  3. $9$

  4. $4$

Show answer
Correct Option: A
Explanation:
S.D of $xi-5$ is

$\sigma =\sqrt{\dfrac{\sum _{i=1}^{9}(xi-5)^2}{9}-\left [ \dfrac{\sum _{i=1}^{9}(xi-5)^2}{9} \right ]^2}$

$\sigma =\sqrt{5-1}=2$

What are the advantages of squaring a difference for calculating variance and standard deviation?

economics measures of dispersion coefficient of variance variance and standard deviation statistics and probability range and mean deviation

  1. Squaring makes each term positive so that values above the mean do not cancel below the mean.

  2. Squaring adds more weight to the larger differences, and in many cases this extra weight is appropriate since points further from the mean may be more significant.

  3. It complicates the calculations

  4. All are incorrect

Show answer
Correct Option: A,B
Explanation:

Since,

$\sigma _x=\sqrt{\cfrac{\sum (x _i-\bar x)^2}{N}}$
So, we can say that opion $A$ and $B$ are correct.

Which of the following are positional measure of dispersion?

economics measures of dispersion coefficient of variance variance and standard deviation statistics and probability range and mean deviation

  1. Standard Deviation, Variance

  2. Percentile, Variance

  3. Quartile, Variance

  4. Percentile,Quartile

Show answer
Correct Option: D
Explanation:

Percentile,Quartile are positional measure of dispersion because it tells about the position of a particular data value has within a data set.
Standard deviation, Variance are computational measure of dispersion.

Basic activities of an economy are production, consumption and investment.

economics government budget and economy trade deficits, savings and investment public finance and budget public finance, taxes and budget

  1. True

  2. False

Show answer
Correct Option: A

Adverse balance of payment can be corrected through _________.

economics government budget and economy trade deficits, savings and investment public finance and budget public finance, taxes and budget

  1. more export

  2. import ban

  3. devaluation of currency

  4. all of the above

Show answer
Correct Option: D

Trade deficit occurs when a country's exports exceeds its imports.

economics government budget and economy trade deficits, savings and investment public finance and budget public finance, taxes and budget

  1. True

  2. False

Show answer
Correct Option: B

When a country's imports are higher than its exports, the balance is termed as ___________.

economics government budget and economy trade deficits, savings and investment public finance and budget public finance, taxes and budget

  1. trade deficit

  2. trade inflow

  3. income deficit

  4. none of the above

Show answer
Correct Option: A