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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

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

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

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

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