MCQ's on Business Statistics 3 | Decision Science | An Introduction to Statistics

 

An Introduction to Statistics



What is the formula for calculating the standard deviation of a dataset?

a) The sum of all values divided by the number of values

b) The square root of the sum of squared differences from the mean

c) The average value of all the data points

d) The difference between the largest and smallest values


What is the primary purpose of descriptive statistics?

a) To make predictions and forecasts

b) To compare two or more groups or conditions

c) To summarize and describe data

d) To test hypotheses and draw inferences


Which type of sampling technique provides each member of the population an equal chance of being included in the sample?

a) Convenience sampling

b) Cluster sampling

c) Random sampling

d) Stratified sampling


What is the difference between a bar graph and a histogram?

a) A bar graph displays categorical data, while a histogram displays numerical data.

b) A bar graph displays numerical data, while a histogram displays categorical data.

c) A bar graph is used for comparing two or more groups, while a histogram shows the frequency distribution of a single variable.

d) A bar graph is used for time series data, while a histogram is used for cross-sectional data.


What does the term "confidence level" represent in statistics?

a) The margin of error for a sample statistic

b) The likelihood of observing a particular sample statistic

c) The range of values within which the population parameter is estimated to lie

d) The strength of association between two variables


Which of the following is an example of categorical data?

a) Temperature in degrees Celsius

b) Time taken to complete a task

c) Number of siblings

d) Height in centimeters


What is the difference between a type I error and a type II error in hypothesis testing?

a) A type I error occurs when the null hypothesis is rejected correctly, while a type II error occurs when the null hypothesis is rejected incorrectly.

b) A type I error occurs when the null hypothesis is accepted correctly, while a type II error occurs when the null hypothesis is accepted incorrectly.

c) A type I error occurs when the null hypothesis is rejected incorrectly, while a type II error occurs when the null hypothesis is rejected correctly.

d) A type I error occurs when the null hypothesis is rejected incorrectly, while a type II error occurs when the null hypothesis is accepted correctly.


Which measure of central tendency is typically used for skewed datasets?

a) Mean

b) Median

c) Mode

d) Range


What is the formula for calculating the range of a dataset?

a) The sum of all values divided by the number of values

b) The square root of the sum of squared differences from the mean

c) The difference between the largest and smallest values

d) The average value of all the data points


What is the purpose of a scatter plot?

a) To display the distribution of a dataset

b) To compare two or more groups or conditions

c) To identify outliers in a dataset

d) To visualize the relationship between two numerical variables


Answers:


b

c

c

a

c

c

a

b

c

d

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