Business Statistics Multiple Choice MCQs Questions Answers Practice Test

Business Statistics Multiple Choice MCQs Questions Answers Practice Test

1. The specific statistical methods that can be used to summarize or to describe a collection of
data is called:
a) Descriptive statistics
b) Inferential statistics
c) Analytical statistics
d) All of the above

2. The need for inferential statistical methods derives from the need for……………..
a) Population
b) Association
c) Sampling
d) Probability

3. A population, in statistical terms, is the totality of things under consideration. It is the
collection of all values of the…………… that is under study.
a) Instance
b) Variable
c) Amount
d) Measure

4. Non-sampling errors are introduced due to technically faulty observations or during the of
data.
a) Processing
b) Analysis
c) Sequencing
d) Collection

5. Sampling is simply a process of learning about the……………on the basis of a
sample drawn from it.
a) Census
b) Population
c) Group
d) Area

6. Numerical facts are usually subjected to statistical analysis with a view to helping a decision
maker make wise decisions in the face of…………………
a) Interpreting
b) Uncertainty
c) Summarizing
d) Organizing

7. In statistics,……………. classification includes data according to the
time period in which the items under consideration occurred.
a) Chronological
b) Alphabetical
c) Geographical
d) Topological

8. Data is simply the numerical results of any scientific……………….
a) Analysis
b) Researches
c) Observation
d) Measurement

9. The…………… process would be required to ensure that the data is complete and as
required.
a) Tabulation
b) Analysis
c) Editing
d) Ordering

10. A sample is a portion of the ………………. population that is considered for study and
analysis.
a) Selected
b) Total
c) Fixed
d) Random

11. The standard deviation for 15, 22, 27, 11, 9, 21, 14, 9 is:
a) 6.22
b) 6.12
c) 6.04
d) 6.32

12. A student obtained the mean and the standard deviation of 100 observations as 40 and
5.1. It was later found that one observation was wrongly copied as 50, the correct figure
being 40. Find the correct mean and the S.D.
a) Mean = 38.8, S.D = 5
b) Mean = 39.9, S.D. = 5
c) Mean 39.9, S.D = 4
d) None

13. The mean deviation about median from the data: 340, 150, 210, 240, 300, 310, 320 is:
a) 51.6
b) 51.8
c) 52
d) 52.8

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