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MCQs

Business Statistics Basics

Total Questions : 85 | Page 8 of 9 pages
Question 71. If the point estimate is 8 and the margin of error is 5 then the confidence interval is
  1.    3 to 13
  2.    4 to 14
  3.    5 to 15
  4.    6 to 16
 Discuss Question
Answer: Option A. -> 3 to 13
Answer: (a).3 to 13
Question 72. The method in which the sample statistic is used to estimate the value of parameters of population is classified as
  1.    estimation
  2.    valuation
  3.    probability calculation
  4.    limited theorem estimation
 Discuss Question
Answer: Option A. -> estimation
Answer: (a).estimation
Question 73. Considering the sample size, the sampling distribution standard error decreases when the
  1.    size of sample increases
  2.    size of sample decreases
  3.    margin of error increases
  4.    margin of error decreases
 Discuss Question
Answer: Option A. -> size of sample increases
Answer: (a).size of sample increases
Question 74. In confidence interval estimation, the confidence efficient is denoted by
  1.    1 + β
  2.    1 - β
  3.    1 - α
  4.    1 + α
 Discuss Question
Answer: Option C. -> 1 - α
Answer: (c).1 - α
Question 75. To develop interval estimate of any parameter of population, the value which is added or subtracted from the point estimate is classified as
  1.    margin of efficiency
  2.    margin of consistency
  3.    margin of biasedness
  4.    margin of error
 Discuss Question
Answer: Option D. -> margin of error
Answer: (d).margin of error
Question 76. In confidence interval estimation, the formula of calculating confidence interval is
  1.    point estimate * margin of error
  2.    point estimate ± margin of error
  3.    point estimate - margin of error
  4.    point estimate + margin of error
 Discuss Question
Answer: Option B. -> point estimate ± margin of error
Answer: (b).point estimate ± margin of error
Question 77. The difference between value of parameter of population and value of unbiased estimator point is classified as
  1.    sampling error
  2.    marginal error
  3.    confidence error
  4.    population error
 Discuss Question
Answer: Option A. -> sampling error
Answer: (a).sampling error
Question 78. 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
  1.    2.325
  2.    3.325
  3.    4.325
  4.    5.325
 Discuss Question
Answer: Option B. -> 3.325
Answer: (b).3.325
Question 79. Considering the sample statistic, if the sample statistic mean is not equal to population parameter then sample statistic is considered as
  1.    unbiased estimator
  2.    biased estimator
  3.    interval estimator
  4.    hypothesis estimator
 Discuss Question
Answer: Option B. -> biased estimator
Answer: (b).biased estimator
Question 80. The criteria of selecting the point estimator must include the information of
  1.    consistency
  2.    unbiasedness
  3.    efficiency
  4.    all of above
 Discuss Question
Answer: Option D. -> all of above
Answer: (d).all of above

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