Statistics for Management

Unit1 - 2 Mark Quiz Questions

1.In modern days many organizations

Choose one answer.

a. Draw inferences on present information on judgment

b. Are not rich in data but draw inferences from past data

c. Are rich on data and do not draw information from it

d. Poor in drawing inferences from unrelated data

2.Statistics can be applied in

Choose one answer.

a. Treating animals and clearing 1 meter in high jump

b. Investing a amount in a particular mutual fund and building a house

c. Purchasing a particular brand of Tea and running a kilometer

d. Quality control methods and planned recruitment

3.Statistics in singular noun is defined as
Choose one answer.

a. Set of data presented and interpreted

b. Aggregate of facts collected in any manner

c. Numerical facts relating to a set of objects

d. The science of collection, presentation, analysis and interpretation of numerical data

4.Statistics is
Choose one answer.

a. Affected by external forces and are expressed numerically

b. Not affected by external forces and are collected for any purpose

c. Estimated and collected at random

d. A single individual data and presented

 Financial Management
Unit2 - 2 Mark Quiz Questions
1.A properly planned investigations leads to
a. Averages results with least cost

b. Results with average cost and time

c. Best results with maximum cost and time

d. Best results with minimum cost and time

2.Control methods are used to
a. Determine cost and time involved

b. Determine sample size and reliability of results

c. Check accuracy, coverage, analysis and interpretation

d. Determine sample units to be studied and measurement

3.The objectives of investigation could be

a. To obtain certain estimates or to establish a theory or to verify the existing relationship

b. To collect data, edit and classify

c. To collect data , classify and present

d. To collect data, present and interpret

4.The scope of investigation covers such as

a. Statistical tools to be used and generalization of findings

b. Manpower required to supervise the work

c. Theories and their application

d. Area to be covered, time, and cost

 Unit3 - 2 Mark Quiz Questions

1.Classifications done on the basis of attributes blindness and region are known
as

a. Two-way quantitative classification

b. Two-way qualitative classification

c. Two-way conditional classification

d. Two-way qualitative and geographical classification

2.Raw data relating to weight and height of people of residential complex can
be

a. Classified according to two different classes

b. Analyzed and interpreted without further treatment

c. Tabulated without classification

d. Used for presentation without further treatment

3.Two functions of classification are

a. Forming trend and tendencies of data

b. Scrutiny and editing

c. Presentation and interpretation

d. Reduce bulk data and facilitate comparisons

4.Two requisites of good classification are

a. Mutually inclusive and bring out essential features 0

b. Exhaustive and revealing

c. Unstable and heterogeneous 0

d. Ambiguous and not mutually exclusive 0

Unit4 - 2 Mark Quiz Questions

1.A good average must be

a. Based on important values and affected by sampling fluctuations

b. Based on extreme values and rigidly defined

c. Based on some values and properly defined

d. Based on all values and rigidly defined

 2.Find the mean value for the grouped data C.I 10-20 20-30 30-40 40-50 50-
60 60-70 Freq 15 10 8 12 16 9

a. 40

b. 33.2

c. 34.8

d. 35.44

4.The mean of the following distribution is X 145 155 165 175 Freq 10 12 15
10
a. 159.7

b. 160.3
c. 162.1

d. 165.9
5.The mean value of age for the data given by Age 10 15 20 25 30 No. of
people 2 4 5 7 8
a. 22.9
b. 22.6

c. 22.5

d. 22.7

Unit5 - 2 Mark Quiz Questions

1.An example of mutually exclusive events are B = {2, 3} =A = {1, 2} B = {3, 4} ~A = {1, 1} B =
{2, 1} ~A = {2, 1} B = {2, 2} }

a. {1, 2
b. A

2.If A, B and C are the events of getting odd number, even number and pirme numbers respectively
when a die is rolled, then A, B and C are

a. Mutually exclusive

b. Not mutually exclusive

c. Mutually exclusive and exhaustive

d. Exhaustive
3.In classical approach to probability, the probability of an event is determined by

a. Before conducting experiment

b. Past records

c. After conducting the experiment

d. By experience

4.The approach that will be adopted to find the probability that a student selected at random from a
particular college will play snooker is
Choose one answer.

a. Mathematical

b. Axiomatic

c. Empirical
d. Judgment

5.The sample points of the random experiment when 2 coins are tossed at a time are given by
Choose one answer.

a. (H, T, HH)

b. (HH, HT, TH, TT)

c. (HH, TH, HT)

d. (HH, HT, TT)

Unit6 - 2 Mark Quiz Questions

1.8C2 q8-2 p2 represents

a. Probability of 6 success

b. Probability of 8 success

c. Probability of 2 success
d. Probability of 4 success
2.If T2 = 28, N = 256, n = 8, p = q = 1/2 then T3 is

a. 60

b. 49

c. 28

d. 56

3.The probability of getting an occupational disease is 1/4. Out of 5 employees, the probability that
exactly 2 will get the disease is
a. 135/512
b. 141/512

c. 120/512

d. 164/512

4.Two examples of observed discrete frequency distributions are

a. No. of children in the family and No. of pedals in a flower
b. Salary distribution of students and height distribution of employees

c. Salary distribution of employees and weight distribution of students

d. Length of leaves and Age distribution of Trees

5.The 5th term in the expansion of (q+p)12 are

a. 12C5 q5 p10
b. 12C6 q10 p5
c. 12C5 q5 p8
d. 12C4 q8 p4

a. a

b. b

c. c

d. d

Unit7 - 2 Mark Quiz Questions

1.A sample is

a. Super set of population

b. Subset of population
c. Mutually exclusive set of the population

d. Exhaustive set of population

2.Examples for existent and hypothetical populations

 a. Throwing a die twice and tossing a coin thrice

b. Getting defectives in a days production and height of people

c. Number of leaves in three month old plants of same type and throwing a die infinite number of time to
observe an even number
d. Number of leaves in three month old plants of same type and tossing a coin once

3.In a statistical survey aimed at determining average blind people in an area

a. Individuals in that area form population and blindness form observation

b. Individuals form population and blindness forms observation

c. Household form population and wearing spectacles is the observation

d. Household form population and blindness forms observation

4.In a study to find number of books in different subjects of a library

a. All customer in the library form population unit and subjects they are studying is the characteristics

b. Number of staff employed form population

c. All books form population units and subject is the characteristics studied
d. All racks kept in library form population unit and number of books in them is the characteristics

5.We resort to sampling technique if

a. The units are affected or qualitatively measurable

b. The units are destroyed or adversely affected

c. The units are destroyed or qualitatively measurable

d. The units are destroyed or cannot be selected by probability sampling methods

Unit8 - 2 Mark Quiz Questions

1.A point estimate is insufficient because

a. It is based on the given data

b. It is based on uncertainty

c. It is not accurate

d. It does not give quantitative measure for its correctness

2.Estimates are necessary to

 a. Make rational decisions

b. Be more consistent in their decisions

c. Deal with uncertainty and make rational decisions

d. Deal with uncertainty

3.Given mean life of 100 bulbs as 1500 hrs and population standard deviation as 500 hours then 95%
confidence interval for population mean is

a. 1500+-92

b. 1500+-98
c. 1500+-90

d. 1500+-100

4.The criteria for a good estimator are

a. Large sample size, accurate methods of collection

b. Efficiency, sufficiency, unbiasedness and consistency

c. Sufficiency, Accuracy and large sample size

d. Accuracy, large sample size, unbiasedness

5.Uses of standard error are

a. To satisfy sufficiency condition and consistency

b. To give reliability measure of the estimate and give confidence interval

c. To give unbiased estimate and efficiency

d. To give efficient estimate and consistent result

Unit9 - 2 Mark Quiz Questions

1.A null hypothesis states that

a. The difference is necessary

b. The difference is significant

c. There is no difference between observed and theoretical values

d. There is no significant difference between observed and theoretical values

2.By Statistical error we mean

 a. There is a difference between sample value and population due to personal bias

b. There is a difference between sample value and population due to faculty methods

c. There is a difference between sample value and population due to sampling frame

d. There is a difference between sample value and population due to chance causes

3.Testing of hypothesis

a. Proves H0 is true
b. Does prove H0 is false
c. Accepts or Rejects H0
d. Accepts HA

a. a

b. b

c. d

d. c
4.Type I error is set to a very high level when

a. It is dangerous to reject a true hypothesis

b. It is dangerous to accept a wrong hypothesis

c. It is dangerous to reject a wrong hypothesis
d. It is dangerous to accept a wrong hypothesis

5.Type I error occurs if

a. H0 is accepted when it is true

b. H0 is rejected when it is false
c. H0 is accepted when it is false
d. H0 is Rejected when it is true

a. c

b. a

c. b

d. d

Unit10 - 2 Mark Quiz Questions

1.A two-tailed test of two variances is to be performed for sample sizes of 15 and 12. If = 0.10 which
of the following represents the upper value to which S12 / S22 should be compared

a. F(14, 11 0.05)
b. F(11, 14, 0.05)

c. 1/F (14, 11, 0.05)

d. 1/F (14, 11 0.95)

2.In 500 observations classified into three groups the theoretical values should be in the ratio of
5:3:2. Then the expected values of the classes are respectively

a. 150, 100, 250

b. 150, 250, 100

c. 100, 150, 250

d. 250, 150, 100

3.To apply X2 test a sample must satisfy the conditions

a. Taken from any population and selected at random

b. Taken from skewed population and selected at random

c. Taken from normal population and selected at random

d. Taken from any population and selected by systematic sampling technique

4.x2 - distribution is a
a. Right skewed distribution with median dividing it into two equal positions

b. Right skewed distribution with mode dividing it into two equal positions
c. Left skewed distribution with median dividing it into two equal positions

d. Left skewed distribution with mode dividing it into two equal positions
2
5.x test is a

a. Non parametric test and takes positive values only

b. Non parametric test and takes any value

c. Parametric test and takes positive values only

d. Parametric test and takes any value

Unit11 - 2 Mark Quiz Questions

1.If n1 = 11 and n2 = 8 with S1 = 5 and S2 = 2 then the null hypothesis will be
.
 a. Accepted

b. May be rejected

c. Rejected
d. May be accepted

2.Sum of squares of due to total (SST) is split into sum of squares due to factors (SSF) and sum of
squares due to error (SSE). The F-test is

a. MST / MSE

b. MSF / MSE
c. SSF / SSE

d. SST / SSF

3.Two assumption to be satisfied for applying F-test are

a. Samples need not be independent and can be drawn from Normal population

b. Samples are independent of each other and can be drawn from any population

c. Samples need not be independent and can be drawn from any population

d. Samples are independent of each other and they should be drawn from Normal population
4.If n1 = 10 with S1 and n2 = 15 with S2 such that S2 > S1 then F-Statistics is given by

a. S12 / S22 with 9 and 14 D.O.F

b. S22 / S12 with 9 and 14 D.O.F
c. S22 / S12 with 14 and 9 D.O.F
d. S12 / S22 with 14 and 9 D.O.F

a. c
b. b

c. d

d. a

Unit12 - 2 Mark Quiz Questions

1.Correlation between two variables may be due to

 a. Large sample size and not due to third factor

b. Small sample size and third factor

c. Not sample size and third factor
d. Large sample size and third factor

2.Correlation is said to be linear and non-linear if

a. The ratio of change between the variables is constant

b. Change in one variable is equal to the percentage change in another variable

c. The ratio of change between the variables is constant and change in one variable is equal to the percentage
change in other variable respectively
d. Change in variables are haphazard

3.Correlation measures

a. The relationship between two variables and used for estimation

b. Causation between variables and used for estimation

c. Degree of relationship and not used for estimation

d. The relationship between two variables and helps estimation

4.For perfectly positive and negative correlation the dots in scatter diagram must lie along a st.line
that runs
a. From Left top to right bottom and left bottom to right top respectively

b. Along a straight line that runs from left bottom to right bottom and left top to right bottom respectively
c. Very close to both lines

d. Along a straight line that runs from left top to right bottom and close to a curve respectively
5.If EXY = 150, EX2 = 40 EY2 = 1000 then r is equal to
a. 0.75

b. 0.6

c. 0.4
d. 0.8
6.In partial correlation the relationship between two or more variables are studied
a. Simultaneously

b. Between two variables only

c. Between two variables keeping others constant

d. Between three variables
 Unit13 - 2 Mark Quiz Questions

1.Business forecasting deals with

a. Process of analyzing present conditions

b. Analysis of past and economic drawing inferences about probable future Business conditions
c. Analysis of past economic conditions
d. Analysis of past and present economic conditions

2.Business forecasting helps in

a. Reducing uncertainty
b. Removes track cycles

c. Removing uncertainty
d. Removes environmental conditions

3.Business forecasting is necessary because of

a. Known future and its demands

b. Present behaviour and certainty

c. Unknown future and known demands

d. Growing competition and trends towards automation

4.Steps in business forecasting involve the following in that order

a. determining the phase, analyzing data, determining the phase of business activity, selection and compilation
b. Understanding the past, determining the phase of business activity to be measured, selection and
complication of data, Analysis
c. Determining the phase of business activity to be measured, the phase selection and compilation and analysis
d. Determining the phase of business activity to be measured the phase, analysis and selection and compilation

5.The difference between prediction and projection is

Choose one answer.

a. Prediction is an estimate based on past data and projection is element of it

b. Prediction is an estimate based on past data and projection is an estimate extrapolated values
c. Prediction is an estimate based on past data and projection is an estimate related to a series

d. Prediction us an estimate based on extrapolation and projection is based on past data

Unit14 - 2 Mark Quiz Questions

1.A time series is

a. A set of numerical values of a given variable observed at equal intervals of time

b. A set of data of a given variable observed at unequal intervals of time

c. A set of qualitative data over a time period

d. A set of observations over a time period

2.Long term trend refers to

a. Long term decline of the series

b. Smooth long term growth or decline containing a minimum of 4 cycles

c. Short term growth of the series
d. Long term growth of the series

3.Seasonal variations refers to

a. Variation in time series that are periodic in nature

b. Variations in time series that are periodic in nature and occur regularly over short periods during a year
c. Variations in time series that are periodic in nature and occur regularly
d. Variations in time series that are not periodic in nature and occur regularly

4.Time series analysis helps us

a. To identify the forces that influences the data

b. To identify the forces that influences the variation in time series

c. To identify the forces that regularizes the data
d. To identify seasonal variation alone

5.Time series analysis is utilized to

a. Identify forces that causes cyclical variations alone

b. Identify forces that causes irregular variations, alone

c. Compare the behaviour of the variable over different period of time

d. Estimate future values accurately

Unit15 - 2 Mark Quiz Questions

1.An index number is a special ______ and is designed to measure

a. Average, changes in a group of related variables over time

 b. Average changes in quantities consumption

c. Number, changes in prices

d. Average, changes in prices

2.J.N.Jewellery's wants to find the changes in Gold price and determine the trend in Indian market.
The statement regarding the purpose of index number should be

a. Changes in price during last 4 years

b. Changes in price in Indian market

c. Changes in price in world market

d. Changes in price during last 15 years in India

3.Production relative and quantity relative deal with

a. Quantity changes and price changes

b. Production changes and Quantity changes

c. Value change and Quantity changes

d. Price changes and Quantity changes

4.The index number for 1998 is 120 and for 2002 is 150. Then index number 1998 calculated with
2002 as base year is

a. 80
b. 115

c. 75

d. 120

5.The price of a commodity in 2005 was Rs.25/ kg. In 2008 it is Rs.120/4 kg. Then price index is
a. 110

b. 140

c. 90

d. 120