Business Maths and Statistics: Applied Statistics: Multiple choice questions with Answers, Solution - Book back 1 mark questions and answers with solution for Exercise Problems

**Choose the correct Answer**

1. A time series is a set of data
recorded

(a) Periodically

(b) Weekly

(c) successive points of time

**(d)
all the above**

2. A time series consists of

(a) Five components

**(b)
Four components**

(c) Three components

(d) Two components

3. The components of a time series which
is attached to short term fluctuation is

(a)
Secular trend

(b) Seasonal variations

(c) Cyclic variation

**(d)
Irregular variation**

4. Factors responsible for seasonal
variations are

(a) Weather

(b) Festivals

(c) Social customs

**(d)
All the above**

5. The additive model of the time series
with the components T, S, C and I is

(a) y=T+S+C×I

(b) y=T+S×C×I

**(c)
y=T+S+C+I **

(d) y=T+S×C+I

6. Least square method of fitting a
trend is

**(a)
Most exact **

(b) Least exact

(c) Full of subjectivity

(d) Mathematically unsolved

7. The value of ‘b’ in the trend line y=a+bx
is

(a) Always positive

(b) Always negative

**(c)
Either positive or negative **

(d) Zero

8. The component of a time series
attached to long term variation is trended as

(a) Cyclic variation

**(b)
Secular variations**

(c) Irregular variation

(d) Seasonal variations

9. The seasonal variation means the
variations occurring with in

(a) A number of years

**(b)
within a year **

(c) within a month

(d) within a week

10. Another name of consumer’s price
index number is:

(a) Whole-sale price index number

**(b)
Cost of living index**

(c) Sensitive

(d) Composite

11. Cost of living at two different
cities can be compared with the help of

**(a)
Consumer price index **

(b) Value index

(c) Volume index

(d) Un-weighted index

12. Laspeyre’s index = 110, Paasche’s
index = 108, then Fisher’s Ideal index is equal to:

(a) 110

(b) 108

(c) 100

**(d)
109**

13. Most commonly used index number is:

(a) Volume index number

(b) Value index number

**(c)
Price index number **

(d) Simple index number

14. Consumer price index are obtained
by:

(a) Paasche’s formula

(b) Fisher’s ideal formula

(c) Marshall Edgeworth formula

**(d)
Family budget method formula**

15. Which of the following Index number
satisfy the time reversal test?

(a)Laspeyre’s Index number

(b) Paasche’s Index number

**(c)
Fisher Index number **

(d) All of them.

16. While computing a weighted index,
the current period quantities are used in the:

(a) Laspeyre’s method

**(b)
Paasche’s method**

(c)
Marshall Edgeworth method

(d) Fisher’s ideal method

17. The quantities that can be
numerically measured can be plotted on a

(a) p - chart

(b) c – chart

**(c)
x bar chart **

(d) np – chart

18. How many causes of variation will
affect the quality of a product?

(a) 4

(b) 3

**(c)
2 **

(d) 1

19. Variations due to natural disorder
is known as

**(a)
random cause **

(b) non-random cause

(c) human cause

(d) all of them

20. The assignable causes can occur due
to

(a) poor raw materials

(b) unskilled labour

(c) faulty machines

**(d)
all of them**

21. A typical control charts consists of

(a) CL, UCL

(b) CL, LCL

**(c)
CL, LCL, UCL **

(d) UCL, LCL

22. chart is a

(a) attribute control chart

**(b)
variable control chart**

(c) neither Attribute nor variable
control chart

(d) both Attribute and variable control
chart

23. R is calculated using

**(a)
x _{max} − x_{min} **

(b) x_{min} − x_{max}

24. The upper control limit for chart is given by

**Ans:
(c)**

25. The LCL for R chart is given by

**Ans:
(d)**

Tags : Applied Statistics , 12th Business Maths and Statistics : Chapter 9 : Applied Statistics

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12th Business Maths and Statistics : Chapter 9 : Applied Statistics : Choose the correct Answer | Applied Statistics

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