Quantitative Methods For Economic Analysis 1 Set 1
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This set of Quantitative Methods for Economic Analysis 1 Multiple Choice Questions & Answers (MCQs) focuses on Quantitative Methods For Economic Analysis 1 Set 1
Q1 | The following integers were obtained as the number of visits to a gift shop, per hour, overseveral days. the mean of the above data, to 2 decimal places.
- 2.80
- 3.00
- 2.81
- 2.8
Q2 | You are conducting a survey of the people of India to find out how popular football isamong 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
- both the people of india and the people you called is the population
- the people of india is called the population, and the people you called are the sample.
- the people of india is the sample, and the people you called is the population.
- both the people of india and the people you called are samples.
Q3 | A _____ refers to the group in your study whereas a ______ refers to a distinct group ofpeople
- population; sample
- sample; population
- sample; cohort
- participant; population
Q4 | Under what circumstances should we be cautious about using the mean as a measure ofcentral tendency?
- when the data is skewed.
- when data is positively skewed
- when data is negatively skewed
- all of the above
Q5 | If b = 0 the line of best fit will conventionally be drawn ______
- as horizontal
- as vertical
- as provides the best fit to the scores
- through the middle of the data points
Q6 | Linear regression can achieve which of the following
- allow us to predict someone’s statistical grade from their mathematical ability
- allow us to identify how much variable y will change if variable x changes
- allow us to predict that as the weather gets 30% colder, then the sales of sweaters will increase by 50%.
- all of the above
Q7 | Linear regression means that every time the value of x increases, y changes by a______amount.
- increasing
- decreasing
- constant
- all of the above
Q8 | In regression, the variable being predicted is called the
- criterion or y variable
- predictor variable or x
- x
- explanatory variable
Q9 | Which of the following is incorrect
- in linear regression a real line is drawn through the data points where total error is minimized.
- in linear regression the line tells us by how much y is predicted to change as a result of a change in x.
- in linear regression the line fits the data in the best place possible.
- in linear regression the line of best fit maximises the distance between the scores and the regression line.
Q10 | A correlation coefficient of +0.40 could be considered
- weak
- moderate
- strong
- zero
Q11 | The _________coefficient (r) is a ratio between the covariance (variance shared by twovariables) and a measure of the separate variances.
- regression
- elasticity
- correlation
- mean
Q12 | In correlation, for a positive relationship ____ scores on one variable tend to beassociated with ____ scores on the other variable
- high; low
- low; high
- high; high
- none of the above
Q13 | To construct a ________we take each person’s score on x and y and plot where theymeet. Each data point represents two scores.
- scatter diagram
- histogram
- pie diagram
- ogive
Q14 | When two variables are correlated we can say
- that they have a perfect positive relationship
- that they share variance
- high scores are frequent on x and y
- that they are independent
Q15 | Which of the following could be value of correlation coefficient
- 0.30
- +1.00
- −0.27
- all of the above
Q16 | In correlation, which of the following tells us that we have a perfect positive relationship
- r = +1
- all the points on the scatter diagram would fall on a straight line and the slope would be from bottom left to top right of the plot
- the dots on the scatter diagram would fall in a straight line from top left-hand corner down to bottom right hand corner
- both a and b
Q17 | You have a correlation coefficient of 0.45 between two variables. How much variancewould these two variables (to the nearest whole number) share, in percentage terms
- 16%
- 67%
- 25%
- 20%
Q18 | A teacher surveys the students attending a seminar and finds that 20% are I BA studentsand 45% are II BA students. This is an example of
- descriptive statistics
- inferential statistics
- secondary data
- nominal data
Q19 | Which of the following does not represent one method to obtain primary source data
- making observations
- sending a survey to customers
- looking in journals
- conducting an experiment
Q20 | The grades that a random sample of BA students received over the last five years inQuantitative Techniques examinations represent what statistical concept
- the grades are a parameter
- the grades are a statistic
- the grades are a sample
- the grades are a population
Q21 | What method is used to sample a population so that it is representative of the population
- samples are chosen at random from the population
- every other element in a population is chosen
- all but the observations that have the lowest and highest values are selected
- only the first half of a population is selected
Q22 | An insurance agent earns a commission on each policy sold. This person made Rs.3,000in commissions during one month and concludes that annual compensation will be Rs. 36,000. This is an example of:
- descriptive statistics
- inferential statistics
- secondary data
- nominal data
Q23 | A student evaluation of teaching effectiveness for a particular course asks students torespond 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?
- ordinal
- ratio
- nominal
- interval
Q24 | A company publishes data on its quarterly earnings for its stockholders to evaluate.Which of the following is true
- the source is primary for both the company and the stockholders
- the source is secondary for both the company and the stockholders
- the source is primary for the company and secondary for the stockholders
- the source is secondary for the company and primary for the stockholders
Q25 | If you have a digital weighing machine in your college that only reads in integers, is yourweight a discrete variable
- yes, because the scale reports integers
- no, because weight is still a continuous variable regardless of the ability to measure it
- it depends on the accuracy of the scale
- it depends on your weight