Quiznetik

Quantitative Methods for Economic Analysis 1 | Set 1

1. The following integers were obtained as the number of visits to a gift shop, per hour, over several days. the mean of the above data, to 2 decimal places.

Correct : C. 2.81

2. You are conducting a survey of the people of India to find out how popular football is among the Indians. You randomly choose people to call, and make 1,000 phone calls to people scattered across the country. In this study, what of the following statement is true

Correct : B. the people of india is called the population, and the people you called are the sample.

3. A _____ refers to the group in your study whereas a ______ refers to a distinct group of people

Correct : B. sample; population

4. Under what circumstances should we be cautious about using the mean as a measure of central tendency?

Correct : D. all of the above

5. If b = 0 the line of best fit will conventionally be drawn ______

Correct : A. as horizontal

6. Linear regression can achieve which of the following

Correct : A. allow us to predict someone’s statistical grade from their mathematical ability

7. Linear regression means that every time the value of x increases, y changes by a ______amount.

Correct : C. constant

8. In regression, the variable being predicted is called the

Correct : A. criterion or y variable

9. Which of the following is incorrect

Correct : D. in linear regression the line of best fit maximises the distance between the scores and the regression line.

10. A correlation coefficient of +0.40 could be considered

Correct : B. moderate

11. The _________coefficient (r) is a ratio between the covariance (variance shared by two variables) and a measure of the separate variances.

Correct : C. correlation

12. In correlation, for a positive relationship ____ scores on one variable tend to be associated with ____ scores on the other variable

Correct : C. high; high

13. To construct a ________we take each person’s score on x and y and plot where they meet. Each data point represents two scores.

Correct : A. scatter diagram

14. When two variables are correlated we can say

Correct : B. that they share variance

15. Which of the following could be value of correlation coefficient

Correct : D. all of the above

16. In correlation, which of the following tells us that we have a perfect positive relationship

Correct : D. both a and b

17. You have a correlation coefficient of 0.45 between two variables. How much variance would these two variables (to the nearest whole number) share, in percentage terms

Correct : D. 20%

18. A teacher surveys the students attending a seminar and finds that 20% are I BA students and 45% are II BA students. This is an example of

Correct : A. descriptive statistics

19. Which of the following does not represent one method to obtain primary source data

Correct : C. looking in journals

20. The grades that a random sample of BA students received over the last five years in Quantitative Techniques examinations represent what statistical concept

Correct : C. the grades are a sample

21. What method is used to sample a population so that it is representative of the population

Correct : A. samples are chosen at random from the population

22. An insurance agent earns a commission on each policy sold. This person made Rs.3,000 in commissions during one month and concludes that annual compensation will be Rs. 36,000. This is an example of:

Correct : B. inferential statistics

23. A student evaluation of teaching effectiveness for a particular course asks students to respond to their level of agreement with several statements according to the scale 1 = Strongly Agree, 2 = Agree, 3 = Neutral, 4 = Disagree, and 5 = Strongly Disagree. The responses indicate what level of measurement?

Correct : A. ordinal

24. A company publishes data on its quarterly earnings for its stockholders to evaluate. Which of the following is true

Correct : C. the source is primary for the company and secondary for the stockholders

25. If you have a digital weighing machine in your college that only reads in integers, is your weight a discrete variable

Correct : B. no, because weight is still a continuous variable regardless of the ability to measure it

26. Statistics is the study of _______ measures of the values associated with variables

Correct : D. numerical

27. ‘Primary source data is better than secondary source data’. This statement is

Correct : B. false

28. Celsius and Fahrenheit temperature scales are examples of interval levels of measurement

Correct : A. true

29. The number of students on a college campus is a continuous variable

Correct : B. false

30. ______refer to population characteristics while _____describe sample characteristics

Correct : B. parameter, statistic

31. Gender is categorized as____data

Correct : A. nominal

32. You are conducting a study to see whether a new experimental medication will cause bald men to grow hair. You divide your patients into 2 groups. To one group you give the medication. To the other group, you give a placebo. In this study, the correct terms for the taking of the medication and the growth of hair are the following.

Correct : D. the medication is the independent variable, and the hair growth is the dependent variable

33. The concept of a variable implies that the values of every characteristic of an item are different

Correct : B. false

34. Which of the following definitions is the definition of the MEAN

Correct : D. the mean is the average calculated by adding up all the values and dividing by the number

35. Which of the following definitions is the definition of the MEDIAN?

Correct : A. the median is the value that half of the entries are below and half of the entries are above

36. What is the median of the following set of numbers? {12,8,13,4,7,6,3,3,15}

Correct : C. 7

37. A teacher had 5 students who took a test. Their test scores are as follows: 62, 86, 72, 66, 72. What is the mode of the test

Correct : A. 72

38. Students A,B and C took part in a recent quiz. Student A scored 50 points, Student B scored 60 points and Student C scored 70 points. What is the mean of this quiz

Correct : A. 60

39. Contestants of a competition have reached the semi-finals. After the semi-finals, their score are of below. Those whose score is lower than the median will not be able to enter the finals, so who managed to enter the finals. Here is the list of contestants: Anoop - 70 Points, Babu - 50 Points, Cindu - 65 Points, Das - 90 Points, Emy - 55 Points, Fasna - 85 Points, Gopi - 100 Points

Correct : B. anoop, das, fasnn and gopi

40. What is the median in the following numbers: 19, 21, 18, 17, 18, 22, 46

Correct : A. 19

41. A teacher had 5 students who took a test. Their test scores are as follows: 62, 86, 72, 66, 72. What is the mode of the test

Correct : A. 72

42. Which of the curves is more peaked than the normal curve?

Correct : C. lapokurtic

43. What will be the range of "r" when we find that the dependent variable increases as the independent variable increases

Correct : C. 0.1 to 1

44. Which of the following correlation coefficients shows the highest degree of association

Correct : D. both a & b

45. The sum of deviations taken from arithmetic mean is

Correct : B. zero

46. Which of the following statements is not correct

Correct : C. some data sets do not have mean

47. Which of the following is not true in respect of mean deviation

Correct : C. it is capable of further algebraic treatment

48. What is the purpose of a summary table?

Correct : A. to see differences between or among categories

49. A graphical representation of a frequency distribution is called a__________________

Correct : B. histogram

50. The width of a class interval in a frequency distribution (or bar chart) will be approximately equal to the range of the data divided by the ______________ .

Correct : D. number of class intervals

51. When constructing a frequency distribution, which of the following rules must be followed?

Correct : D. adjacent classes cannot overlap

52. The rule of thumb for creating a frequency distribution is to divide the data into 5-15 classes. While larger numbers of classes allow for larger data sets, how do you know exactly how many classes to use

Correct : B. select the number of classes that provides definition to the shape of the data

53. Considering the various types of tables and charts you have studied, which table, chart, diagram or plot would you use to depict categorical data for two variables in a visual format

Correct : A. bar chart

54. For the list of values, 13, 18, 13, 14, 13, 16, 14, 21, 13, the mean, median, mode, and range are in the order

Correct : B. 15, 14, 13, 8

55. Arrange the numbers in numerical order and see which is repeated most often. This describes which measure of central tendency

Correct : D. mode

56. The cumulative frequency for a particular class is equal to 35. The cumulative frequency for the next class will be _________________

Correct : D. 35 plus the next class frequency

57. Which of the following would be most helpful in the construction of a pie chart

Correct : B. ogive

58. The highest bar in a histogram represents

Correct : C. the class with the highest frequency

59. The movie theater industry tracks ticket sales by age groups. A _______would provide an appropriate representation for the proportion of ticket sales attributed to each age group.

Correct : D. pie chart

60. You are constructing a histogram that is required to use 6 classes for a data set that ranges from 15 to 70. A class width of ____ units would be an appropriate choice

Correct : B. 10

61. A _______ would be an effective tool to assess the relationship between the grade earned in a class and the number of hours spent studying

Correct : A. scatter diagram

62. How might an extreme value in the sample data set affect the value of the mean

Correct : C. since all values are summed, any extreme value can influence the mean to a large extent

63. Which of the following is not a measure of central tendency

Correct : A. interquartile range

64. Which of the following is the most appropriate measure of central tendency for ordinal data

Correct : C. median

65. Which of the following measures of central tendency is not affected by extreme values in the sample data set

Correct : A. mode

66. How many elements of a data set are between the first and third quartiles

Correct : A. one half

67. Which of the following measures become larger as the data is more dispersed

Correct : D. range, variance, and standard deviation

68. The sum of deviations about the arithmetic mean is always equal to _______

Correct : B. 0

69. How is the arithmetic mean related to the variance

Correct : C. variance measures the variability of values about the mean

70. Which of the following sampling techniques will not result in a probability sample?

Correct : B. quota

71. The standard deviation of a sampling distribution is commonly called which of the following

Correct : C. standard error

72. Which of the following techniques yields a simple random sample

Correct : C. numbering all the elements of a sampling frame and then using a random number table to pick cases from the table

73. People who are available, volunteer, or can be easily recruited are used in the sampling method called ______

Correct : D. convenience sampling

74. Which of the following types of sampling involves the researcher determining the appropriate sample sizes for the groups identified as important, and then taking convenience samples from those groups

Correct : B. quota sampling

75. In which of the following nonrandom sampling techniques does the researcher ask the research participants to identify other potential research participants

Correct : A. snowball

76. The type of sampling in which each member of the population selected for the sample is returned to the population before the next member is selected is called _________

Correct : B. sampling with replacement

77. Which of the following is not a type of nonrandom sampling

Correct : A. cluster sampling

78. ___________ is a set of elements taken from a larger population according to certain rules

Correct : A. sample

79. Questionnaires can address events and characteristics taking place ______

Correct : D. all of the above

80. Which of the following terms best describes data that were originally collected at an earlier time by a different person for a different purpose

Correct : B. secondary data

81. Which of the following is true concerning observation method of data collection

Correct : C. it is often not possible to determine exactly why the people behave as they do

82. Correlation refers to

Correct : B. the association between two variables

83. If two variables are highly correlated, what do you know

Correct : D. that changes in one variable are accompanied by predictable changes in the other

84. A researcher finds a correlation of 0.40 between personal income and the number of years of college completed. Based upon this finding he can conclude that

Correct : D. more years of education are associated with higher income

85. Which of the following would not allow you to calculate a correlation?

Correct : C. a curvilinear relationship between x and y

86. Correlation relates the relative position of a score in one distribution to

Correct : A. the relative position of a score in another distribution

87. If a positive correlation exists between height and weight, a person with above average height is expected to have above average weight

Correct : A. true

88. Regression analysis:

Correct : D. establishes a relationship between two variables

89. In the equation of a straight line, Y = mX + c the term, m is the:

Correct : D. slope

90. In the equation of a straight line, Y = mX + c , if c is equal to zero then:

Correct : A. the line of best fit passes through the origin

91. In the equation of a straight line, Y = mX + c , if m is equal to −2 then:

Correct : C. there is a negative relationship between the two variables

92. In the equation of a straight line, Y = mX + c , if m is equal to zero then when:

Correct : D. x increases y remains constant

93. If the Pearson correlation co-efficient R is equal to 1 then:

Correct : A. there is a perfect positive relationship between the two variables

94. The mathematical notation R2 is for:

Correct : A. the co-efficient of determination

95. If the slope of the regression line is calculated to be 2.5 and the intercept 16 then the value of Y when X is 4 is:

Correct : D. 26

96. If Spearman’s co-efficient of rank correlation is equal to one, then:

Correct : D. the rankings of the two variables totally agree

97. The correlation coefficient is used to determine:

Correct : C. the strength of the relationship between the x and y variables

98. If there is a very strong correlation between two variables then the correlation coefficient must be

Correct : B. much smaller than 0, if the correlation is negative

99. In regression, the equation that describes how the response variable (y) is related to the explanatory variable (x) is:

Correct : B. the regression model

100. Regression modelling is a statistical framework for developing a mathematical equation that describes how

Correct : C. one response and one or more explanatory variables are related