Multiple Choice Questions in Probability and Statistics with Answers pdf for the preparation of Banking, Finance, MBA, BBA, Mcom, Bcom exams.
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This article provides a comprehensive guide to the world of Probability and Statistics MCQs with answers. Here, you will find helpful resources that cover a wide range of topics in Probability and Statistics through well-crafted MCQs.
MCQs in Probability and Statistics with Answers
1. The consistency and adequacy of an index number formula CANNOT be verified by which of the following?
a. Order reversal test
b. Factor reversal test
c. Time reversal test
d. Index reversal test
Answer: (d)
2. Time series is defined as the set of ordered pairs of observations taken at ___ points of time.
a. equal
b. successive
c. progressive
d. random
Answer: (b)
3. Time series analysis plays a vital role in business decision-making for which of the following?
a. Understanding of past behaviour
b. Planning future operations
c. Evaluating the performance
d. All the above
Answer: (d)
4. Which of the following is NOT among the elements of the time series?
a. secular Trend
b. regular variations
c. cyclical variations
d. seasonal variations
Answer: (b)
5. Which among the following is NOT among the phases of the business cycle?
a. decline
b. improvement
c. dispersion
d. Prosperity
Answer: (c)
6. Trend can be measured by which of the following?
a. Graphic or freehand curve fitting method
b. Method of Moving Averages
c. Method of Semi-Averages
d. All the above
Answer: (d)
7. Seasonal Trend can be measured by which of the following?
a. Residual method
b. Harmonic Analysis
c. Link Relative Method
d. Direct percentage method
Answer: (c)
8. Which of the following statement is Not true regarding Sampling?
a. Saving of time.
b. Reduced cost of the survey
c. Non-precision of results
d. Adaptability
Answer: (c)
9. Which of the following is not among the principles of sampling theory?
a. Principle of optimization
b. Principle of persistence of small numbers
c. Principle of validity
d. Law of statistical equality
Answer: (d)
10. The principle of ___ aims at obtaining a desired level of efficiency at minimum cost or obtaining maximum possible efficiency with a given level of cost.
a. Validity
b. Optimisation
c. Persistence of Small Numbers
d. Inertia of Large Numbers
Answer: (b)
11. Compensatory errors are also known as which of the following?
a. Biased errors
b. Compiling errors
c. unbiased errors
d. Publication errors
Answer: (c)
12. Which of the following is not a type of probability sampling?
a. Judgment Sampling
b. Multi-stage Sampling
c. Systematic Sampling
d. Simple Random Sampling
Answer: (a)
13. Hypothesis testing is the opinion about the population parameter that may or may not be in the ___ interval derived from the sample.
a. regular
b. confidence
c. equal
d. successive
Answer: (b)
14. ___ test is the test of any statistical hypothesis where the Alternative hypothesis is written with the symbol “≠”.
a. One-tailed
b. Two-tailed
c. Right-Tailed
d. Left-Tailed
Answer: (b)
15. Cyclical variations can be measured by which of the following?
a. Direct percentage method
b. Ratio–to–trend Method
c. Method of Simple averages
d. Ratio-to-moving Average Method
Answer: (a)
16. Which of the following principles states that “other things being equal, as the sample size increases, the results tend to be more reliable and accurate”?
a. Principle of Validity
b. Principle of Inertia of Large Numbers
c. Principle of Optimisation
d. Principle of Persistence of Small Numbers
Answer: (b)
17. A die is tossed once. Let Y be an event such that Y = {odd number occurs on the bottom}. What is the number of favourable outcomes of Y?
a. 1
b. 2
c. 3
d. 4
Answer: (c)
18. A coin is tossed 6 times. Let T be an event such that T = {More tails than heads showed}. What is the number of favourable outcomes of T?
a. 14
b. 22
c. 26
d. None of these
Answer: (b)
19. What is the numerical value of the exhaustive number of cases if you throw a dice 5 times?
a. 1296
b. 4616
c. 7776
d. 9636
Answer: (c)
20. ”Number of children’ measurement is which of the following?
a. Qualitative random variable
b. Discrete random variable
c. Continuous random variable
d. Nominal random variable
Answer: (b)
21. A random variable X has the density function : f(x) =
1/4 * kx^4 when -2<=x<=2
f(x) = 0 elsewhere.
What is the value of k?
a. 3/28
b. 9/32
c. 7/18
d. 5/16
Answer: (d)
22. A random variable y has p.m.f. f(y) as f(y) = y/9, y ϵ M where M = (-3, 0, 3). Then what is the value of E(y)?
a. 2
b. 3
c. 4
d. 5
Answer: (a)
23. From a bag containing two 5 rupee coins and two 1 rupee coins, a person is asked to draw 2 coins at random. Find the value of expectation in rupees.
a. 2
b. 3
c. 4
d. 6
Answer: (b)
24. The pdf for the score for a randomly selected student is
X = 0; f(X) = 2
X = 1; f(X) = 5
What is the moment generating function of the random variable X?
a. 10et
b. et+10
c. 2et+5
d. 5et+2
Answer: (d)
25. Calculate the fourth moment about origin with the help of mgf of probability density function f(x) = e-x, 0 <= x < ∞.
a. 16
b. 20
c. 24
d. 30
Answer: (c)
26. There are 13 men, 13 women, and 22 children in a tour group. The mean weight of men is 80 kgs, women are 65 kgs and the mean weight of the whole group is around 52 kgs. Then what is the approximate mean weight of the children of the group?
a. 30
b. 35
c. 40
d. 45
Answer: (a)
27. What is the GM of the numbers 8, 125 & 216?
a. 30
b. 60
c. 90
d. 120
Answer: (b)
28. What is the coefficient of range of the following discrete series?
22, 36, 32, 33, 45, 67, 54, 70, 37, 46, 28, 25, 72, 18, 19, 82, 76, 49, 73, 80, 27, 65, 62.
a. 0.48
b. 0.55
c. 0.59
d. 0.64
Answer: (d)
29. What is the mean deviation for the following data?
20, 25, 35, 40, 45, 75
a. 10.33
b. 12.33
c. 13.33
d. 15.33
Answer: (c)
30. 4 coins are tossed. Find the probability of getting exactly 2 heads.
a. 1/4
b. 3/8
c. 5/12
d. 7/16
Answer: (b)
31. The probability that an employee gets promoted in his job is 10%. In a firm having six employees, what is the probability that none of the employees get promoted?
a. 0.45
b. 0.48
c. 0.53
d. 0.57
Answer: (c)
32. Which among the following is the correct formula for Spearman’s Rank Coefficient Method?
a. 1-[6ΣD2/(N2-N)]
b. 1-[6ΣD/(N2-N)]
c. 1-[6ΣD3/(N3- N2)]
d. 1-[6ΣD2/(N3-N)]
Answer: (d)
33. If the Laspeyres and Paasche Price Index for a particular year are 121 and 144 respectively, which among the following is the correct value of the Fisher’s Price Index for that particular year?
a. 128
b. 132
c. 136
d. 138
Answer: (b)
34. If the Laspeyre and Fisher index for a particular year are 169 and 182 respectively, which if the following is the correct value of the Dorbey and Bowley’s Index for that particular year?
a. 177.5
b. 179.5
c. 180.5
d. 182.5
Answer: (d)
35. Which of the following is the correct formula for the sample size of a finite population?
a. z2pqN/[e2(N-1) + z2pq)]
b. zpqN/[e2(N-1) + z3pq)]
c. z2pqN/[e2(N-1) + zpq)]
d. z3pqN/[e2(N-1) + z2pq)]
Answer: (a)
36. The mean lifetime of a sample of 100 electrical bulbs produced by a company is found to be 1,560 hours with a standard deviation of 80 hours. What is the z value for the hypothesis that the mean lifetime of the bulbs produced by the company is 1,600 hrs?
a. -4.5
b. -4
c. -3.5
d. -5
Answer: (d)
Conclusion
It is important to understand the basics of probability and statistics to help you make better decisions in life. This guide has given readers a comprehensive overview of the key concepts and formulas within the field, as well as some example problems and their solutions.
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