Notes Statistics and Econometrics Online Practice Exam 4 December 2, 2023 April 20, 2024 NET / SET Online Practice Exams Statistics and Econometrics Test Multi-choice 4 Question 1. Which of the following is not a mathematical average? Answers Option 1 A.M Option 2 Median Option 3 Weighted A.M Option 4 Mode Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 2. What is the major assumption that one makes when computing a mean from a grouped data ? Answers Option 1 All value are discrete Option 2 Every value in a class is equal to its mid-point Option 3 No value occurs more than once Option 4 Each class contains exactly the same number of values Feedback Wrong choice Correct option Wrong choice Incorrect selection Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 3. Which index number is used in a situation when one is willing to compare changes in the monetary value of consumption, sale, exports, etc., if a commodity on two or more points of time? Answers Option 1 Quantity relatives Option 2 Price relatives Option 3 Value relatives Option 4 Volume relatives Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 4. If the mean, median and mode of a data set are equal then, which of the following is true with regard to the distribution of the data ? Answers Option 1 It is positively skewed Option 2 It is symmetrical Option 3 It is asymmetrical Option 4 It is negatively skewed Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 5. The 50th percentile is- Answers Option 1 Mean Option 2 Standard deviation Option 3 Median Option 4 Mean Deviation Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 6. Measures of central tendency are called averages Answers Option 1 First order Option 2 Second order Option 3 Third order Option 4 None of these Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 7. If the arithmetic mean of the ages of a group of boys is 20 years, then the arithmetic mean of their ages after 2 years will be Answers Option 1 20 years Option 2 18 years Option 3 Remains constant Option 4 22 years Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 8. Which of the following statements is not true? Answers Option 1 Arithmetic mean is always the best measure of central tendency Option 2 The median of distribution can be determined graphically Option 3 The value of mean is least affected by sampling fluctuations Option 4 The median can be obtained for open ended distributions Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 9. Which of the following statements is/are correct? Average sale of a firm for different years can be better represented by mode. Arithmetic mean is highly affected by extreme values. Sum of absolute deviations from median is minimum. All positional averages are mathematical acreages. Answers Option 1 II and III only Option 2 I and III only Option 3 II and IV only Option 4 I and II only Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 10. Which of the following statements is incorrect? Answers Option 1 Algebraic sum of deviations from arithmetic mean is equal to zero Option 2 For a symmetrical distribution, mean = median = mode Option 3 For dealing with qualitative data, median is most suitable Option 4 None of the above Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Prepared by www.myeconomics.info << Prev Next >> "There is no joy in possession without sharing". Share this page. Whatsapp Telegram Facebook
Multi-choice 4 Question 1. Which of the following is not a mathematical average? Answers Option 1 A.M Option 2 Median Option 3 Weighted A.M Option 4 Mode Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 2. What is the major assumption that one makes when computing a mean from a grouped data ? Answers Option 1 All value are discrete Option 2 Every value in a class is equal to its mid-point Option 3 No value occurs more than once Option 4 Each class contains exactly the same number of values Feedback Wrong choice Correct option Wrong choice Incorrect selection Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 3. Which index number is used in a situation when one is willing to compare changes in the monetary value of consumption, sale, exports, etc., if a commodity on two or more points of time? Answers Option 1 Quantity relatives Option 2 Price relatives Option 3 Value relatives Option 4 Volume relatives Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 4. If the mean, median and mode of a data set are equal then, which of the following is true with regard to the distribution of the data ? Answers Option 1 It is positively skewed Option 2 It is symmetrical Option 3 It is asymmetrical Option 4 It is negatively skewed Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 5. The 50th percentile is- Answers Option 1 Mean Option 2 Standard deviation Option 3 Median Option 4 Mean Deviation Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 6. Measures of central tendency are called averages Answers Option 1 First order Option 2 Second order Option 3 Third order Option 4 None of these Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 7. If the arithmetic mean of the ages of a group of boys is 20 years, then the arithmetic mean of their ages after 2 years will be Answers Option 1 20 years Option 2 18 years Option 3 Remains constant Option 4 22 years Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 8. Which of the following statements is not true? Answers Option 1 Arithmetic mean is always the best measure of central tendency Option 2 The median of distribution can be determined graphically Option 3 The value of mean is least affected by sampling fluctuations Option 4 The median can be obtained for open ended distributions Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 9. Which of the following statements is/are correct? Average sale of a firm for different years can be better represented by mode. Arithmetic mean is highly affected by extreme values. Sum of absolute deviations from median is minimum. All positional averages are mathematical acreages. Answers Option 1 II and III only Option 2 I and III only Option 3 II and IV only Option 4 I and II only Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 10. Which of the following statements is incorrect? Answers Option 1 Algebraic sum of deviations from arithmetic mean is equal to zero Option 2 For a symmetrical distribution, mean = median = mode Option 3 For dealing with qualitative data, median is most suitable Option 4 None of the above Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback)
Multi-choice 4 Question 1. Which of the following is not a mathematical average? Answers Option 1 A.M Option 2 Median Option 3 Weighted A.M Option 4 Mode Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 2. What is the major assumption that one makes when computing a mean from a grouped data ? Answers Option 1 All value are discrete Option 2 Every value in a class is equal to its mid-point Option 3 No value occurs more than once Option 4 Each class contains exactly the same number of values Feedback Wrong choice Correct option Wrong choice Incorrect selection Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 3. Which index number is used in a situation when one is willing to compare changes in the monetary value of consumption, sale, exports, etc., if a commodity on two or more points of time? Answers Option 1 Quantity relatives Option 2 Price relatives Option 3 Value relatives Option 4 Volume relatives Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 4. If the mean, median and mode of a data set are equal then, which of the following is true with regard to the distribution of the data ? Answers Option 1 It is positively skewed Option 2 It is symmetrical Option 3 It is asymmetrical Option 4 It is negatively skewed Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 5. The 50th percentile is- Answers Option 1 Mean Option 2 Standard deviation Option 3 Median Option 4 Mean Deviation Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 6. Measures of central tendency are called averages Answers Option 1 First order Option 2 Second order Option 3 Third order Option 4 None of these Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 7. If the arithmetic mean of the ages of a group of boys is 20 years, then the arithmetic mean of their ages after 2 years will be Answers Option 1 20 years Option 2 18 years Option 3 Remains constant Option 4 22 years Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 8. Which of the following statements is not true? Answers Option 1 Arithmetic mean is always the best measure of central tendency Option 2 The median of distribution can be determined graphically Option 3 The value of mean is least affected by sampling fluctuations Option 4 The median can be obtained for open ended distributions Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 9. Which of the following statements is/are correct? Average sale of a firm for different years can be better represented by mode. Arithmetic mean is highly affected by extreme values. Sum of absolute deviations from median is minimum. All positional averages are mathematical acreages. Answers Option 1 II and III only Option 2 I and III only Option 3 II and IV only Option 4 I and II only Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 10. Which of the following statements is incorrect? Answers Option 1 Algebraic sum of deviations from arithmetic mean is equal to zero Option 2 For a symmetrical distribution, mean = median = mode Option 3 For dealing with qualitative data, median is most suitable Option 4 None of the above Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback)