Question 1

Mean deviation is based on all values , so it is more
A)valuable
B)Understandable
C)Representative
D)All these

Accepted Answer

A

Question 2

Squares of ---- is known as variance
A)S.D
B)Q.D
C)M.D
D)Range

Accepted Answer

The square of the Standard Deviation (S.D) is known as variance. Variance measures the dispersion of a set of data points around their mean value.

Question 3

In standard deviation, deviations are measured from
A)Mean
B)Median
C)mode
D)None

Accepted Answer

In standard deviation calculations, deviations of individual data points are measured from the mean of the dataset. This is because the mean is the central value that minimizes the sum of squared deviations, making it the most suitable measure for this purpose.

Question 4

In Mean deviation, deviations are measured from
A)Mean
B)Median
C)mode
D)All these

Accepted Answer

In mean deviation, deviations are measured from the mean.

Question 5

If the value of a series are equal , S.D is
A)Zero
B)One
C)Two
D)None

Accepted Answer

Standard deviation measures the dispersion of a set of data points from their mean. If all values in a series are equal, there is no dispersion, and the standard deviation is zero.

Question 6

Graphical method of measuring variability is first used by
A)Max O Lorenze
B)Carl Pearson
C)Spiegel
D)Fishers

Accepted Answer

Max O. Lorenz was the first to use a graphical method to measure variability, known for the Lorenz curve, a graphical representation of the distribution of income or wealth.

Question 7

---- means asymmetry of a distribution
A)skewness
B)Kurtosis
C)Moments
D)Dispersion

Accepted Answer

Skewness is a measure of the asymmetry of the probability distribution of a real-valued random variable about its mean. If the distribution is symmetric, the skewness will be zero.

Question 8

A measure of dispersion is an average of
A)Deviation
B)Skewness
C)Median
D)Variance

Accepted Answer

Deviation is a measure of dispersion as it represents the average distance of each data point from the mean, indicating how spread out the data is.

Question 9

A measure of skewness is only the difference between 2-------
A)averages
B)Deviation
C)Both
D)None

Accepted Answer

A measure of skewness is only the difference between 2 averages.

Question 10

---- serves as an economic barometer
A)Index numbers
B)Skewness
C)Kurtosis
D)None

Accepted Answer

Index numbers are used to measure changes in the economy over time, acting as an economic barometer by indicating trends in prices, production, and other economic activities.

Question 11

---- are specialized type of averages
A)Index numbers
B)mean
C)Median
D)Mode

Accepted Answer

Index numbers are specialized types of averages used to measure changes in a variable or group of variables over time. Unlike mean, median, and mode, which are basic measures of central tendency, index numbers are designed to track changes in economic data, prices, quantities, or other information over different periods.

Question 12

Important use of Index numbers is for
A)Wage negotiation and wage contracts
B)Employee satisfaction
C)Job satisfaction
D)welfare schemes

Accepted Answer

Index numbers are widely used in wage negotiations and wage contracts to adjust wages according to changes in the cost of living or productivity, ensuring fair compensation over time.

Question 13

According to ---- method original data are plotted on graph
A)Free hand curve
B)Semi average
C)moving average
D)Least square

Accepted Answer

The free hand curve method involves plotting the original data on a graph and then drawing a smooth curve that best fits the data points. This method is used for visual analysis and trend identification.

Question 14

Fishers ideal index formula satisfies ---- test
A)Factor reversal test
B)Time reversal test
C)Both
D)none

Accepted Answer

Fisher's Ideal Index satisfies both the Factor Reversal Test and the Time Reversal Test, making it a unique and widely accepted index number formula.

Question 15

When the measure of kurtosis is greater than ---- the distribution is leptokurtic
A)0
B)1
C)2
D)3

Accepted Answer

Leptokurtic distributions have a kurtosis value greater than 0.

Question 16

When first quartile is 10 , third quartile is 20 , value of quartile deviation is
A)5
B)2
C)3
D)1

Accepted Answer

Quartile deviation is calculated as (Q3 - Q1) / 2, where Q3 is the third quartile and Q1 is the first quartile. So, (20 - 10) / 2 = 5.

Quiz 4: Measures of Dispersion and Their Applications

Mean deviation is based on all values , so it is more

Squares of ---- is known as variance

In standard deviation, deviations are measured from

In Mean deviation, deviations are measured from

If the value of a series are equal , S.D is

Graphical method of measuring variability is first used by

---- means asymmetry of a distribution

A measure of dispersion is an average of

A measure of skewness is only the difference between 2-------

---- serves as an economic barometer

---- are specialized type of averages

Important use of Index numbers is for

According to ---- method original data are plotted on graph

Fishers ideal index formula satisfies ---- test

When the measure of kurtosis is greater than ---- the distribution is leptokurtic

When first quartile is 10 , third quartile is 20 , value of quartile deviation is