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Business Statistics Basics Online Exam Quiz

Important questions about Business Statistics Basics. Business Statistics Basics MCQ questions with answers. Business Statistics Basics exam questions and answers for students and interviews.

The range or set of values which have chances to contain value of population parameter with particular confidence level is considered as

Options

A : a. secondary interval estimation

B : b. confidence interval estimate

C : c. population interval estimate

D : d. sample interval estimate

The upper and lower boundaries of interval of confidence are classified as

Options

A : a. error biased limits

B : b. marginal limits

C : c. estimate limits

D : d. confidence limits

For a parameter whose value is unknown, the belief or claim for that parameter is classified as

Options

A : a. parameter claim testing

B : b. expected belief testing

C : c. hypothesis testing

D : d. primary limit testing

If the standard deviation of population 1 is 3 with sample size is 8 and the population 2 standard deviation is 5 with sample size is 7 then the standard deviation of sampling distribution is

Options

A : a. 4.044

B : b. 3.044

C : c. 1.044

D : d. 2.044

Considering the sample statistic, if the mean of sampling distribution is equal to population mean then the sample statistic is classified as

Options

A : a. unbiased estimator

B : b. biased estimator

C : c. interval estimator

D : d. hypothesis estimator

If the point estimate is 8 and the margin of error is 5 then the confidence interval is

Options

A : a. 3 to 13

B : b. 4 to 14

C : c. 5 to 15

D : d. 6 to 16

To develop interval estimate of any parameter of population, the value which is added or subtracted from the point estimate is classified as

Options

A : a. margin of efficiency

B : b. margin of consistency

C : c. margin of biasedness

D : d. margin of error

In confidence interval estimation, the confidence efficient is denoted by

Options

A : a. 1 + ?

B : b. 1 - ?

C : c. 1 - ?

D : d. 1 + ?

Considering the sample size, the sampling distribution standard error decreases when the

Options

A : a. size of sample increases

B : b. size of sample decreases

C : c. margin of error increases

D : d. margin of error decreases

The method in which the sample statistic is used to estimate the value of parameters of population is classified as

Options

A : a. estimation

B : b. valuation

C : c. probability calculation

D : d. limited theorem estimation

In confidence interval estimation, the interval estimate is also classified as

Options

A : a. confidence efficient

B : b. confidence deviation

C : c. confidence mean

D : d. marginal coefficient

If the sample size is greater than or equal to 30 then the sample standard deviation can be approximated to population standard deviation for the

Options

A : a. known standard deviation

B : b. unknown standard deviation

C : c. standard interval deviation

D : d. population interval theorem

The value of any sample statistic which is used to estimate the parameters of population is classified as

Options

A : a. point estimate

B : b. population estimate

C : c. sample estimate

D : d. parameter estimate

The distance between the true value of population parameter and estimated value of population parameter is called

Options

A : a. error of central limit

B : b. error of confidence interval

C : c. error of estimation

D : d. error of hypothesis testing

The knowledge of possible errors, point estimate and the degree of confidence is classified as

Options

A : a. interval estimation

B : b. confidence interval

C : c. hypothesis testing

D : d. both a and b

In confidence interval estimation, the formula of calculating confidence interval is

Options

A : a. point estimate * margin of error

B : b. point estimate ± margin of error

C : c. point estimate - margin of error

D : d. point estimate + margin of error

The difference between value of parameter of population and value of unbiased estimator point is classified as

Options

A : a. sampling error

B : b. marginal error

C : c. confidence error

D : d. population error

If the critical value of normal standard variable is 0.95 and the standard error of specific statistic 3.5 then the margin of error is

Options

A : a. 2.325

B : b. 3.325

C : c. 4.325

D : d. 5.325

Considering the sample statistic, if the sample statistic mean is not equal to population parameter then sample statistic is considered as

Options

A : a. unbiased estimator

B : b. biased estimator

C : c. interval estimator

D : d. hypothesis estimator

The criteria of selecting the point estimator must include the information of

Options

A : a. consistency

B : b. unbiasedness

C : c. efficiency

D : d. all of above

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