University of lucknow

b.com sem 6

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Q.1 Which of the following values is used as a summary measure for a sample, such as a sample mean?

(A) Population parameter

(B) Sample parameter

(C) Sample statistic

(D) Population mean

Answer: C

Q.2 Which of the following is a branch of statistics?

(A) Descriptive statistics

(B) Inferential statistics

(C) Industry statistics

(D) Both A and B

Answer: D

Q.3 The control charts and procedures of descriptive statistics which are used to enhance a procedure can be classified into which of these categories?

(A) Behavioural tools

(B) Serial tools

(C) Industry statistics

(D) Statistical tools

Answer: D

Q.4 Which of the following can also be represented as sample statistics?

(A) Lowercase Greek letters

(B) Roman letters

(C) Associated Roman alphabets

(D) Uppercase Greek letters

Answer: B

Q.5 To which of the following options do individual respondents, focus groups, and panels of respondents belong?

A) Primary data sources

B) Secondary data sources

C) Itemised data sources

D) Pointed data sources

Answer: A

Q.6 What are the variables whose calculation is done according to the weight, height, and length known as?

(A) Flowchart variables

(B) Discrete variables

(C) Continuous variables

(D) Measuring variables

Answer: C

Q.7 Which method used to examine inflation rate anticipation, unemployment rate, and capacity utilisation to produce products?

(A) Data exporting technique

(B) Data importing technique

(C) Forecasting technique

(D) Data supplying technique

Answer: C

Q.8 Specialised processes such as graphical and numerical methods are utilised in which of the following?

(A) Education statistics

(B) Descriptive statistics

(C) Business statistics

(D) Social statistics

Answer: B

Q.9 What is the scale applied in statistics, which imparts a difference of magnitude and proportions, is considered as?

(A) Exponential scale

(B) Goodness scale

(C) Ratio scale

(D) Satisfactory scale

Answer: C

Q.10 Review of performance appraisal, labour turnover rates, planning of incentives, and training programs are the examples of which of the following?

(A) Statistics in production

(B) Statistics in marketing

(C) Statistics in finance

(D) Statistics in personnel management

Answer: D

National Income and related aggregates

1.The difference between value of output and value added is:


(b)Intermediate consumption

(c)Net indirect taxes


2.Product method of calculating national income is also known as:

(a)Income method

(b)Value added method

(c)Expenditure method

(d)Distribution method

3.Transfer payments refer to payments, which are made:

(a)Without any exchange of goods and services

(b)To workers on transfer from one job to another

(c)As compensation to employees


4.National Income differs from Net National Product at market price by the amount of:

(a)Current transfers from rest of the world

(b)Net Indirect Taxes

(c)National debt interest

(d)it does not differ

5.GDPMP = GDP + ________ :


(b)Indirect taxes



6. National Income doesn’t include:

(a)Interest on unproductive national debt

(b)Income for government expenditure

(c)The payments by the household to firm for the purchase of goods and services

(d)Undistributed profit

7. National Income doesn’t include:

(a)Interest on unproductive national debt

(b)Income for government expenditure

(c)The payments by the household to firm for the purchase of goods and services

(d)Undistributed profit

8. Which of the following is not correct ?

(a)NNPMP = GNPMP. depreciation

(b)NNPMP = NNPFC + net indirect taxes


(d)NDPFC = GDPFC – depreciation

9. Net national product at factor cost is also known as:

(a)Net Domestic product

(b)Gross National product

(c)National Income

(d)Personal Income

10.In GNP calculation which of the following should be excluded?

(a)Rental incomes

(b)Interest payments


(d)Government transfer payment

  1. The specific statistical methods that can be used to summarize or to describe a collection of
    data is called:
    a) Descriptive statistics
    b) Inferential statistics
    c) Analytical statistics
    d) All of the above
  1. The need for inferential statistical methods derives from the need for __.
    a) Population
    b) Association
    c) Sampling
    d) Probability
  2. A population, in statistical terms, is the totality of things under consideration. It is the
    collection of all values of the _____ that is under study.
    a) Instance
    b) Variable
    c) Amount
    d) Measure
  3. Non-sampling errors are introduced due to technically faulty observations or during the
    __________ of data.
    a) Processing
    b) Analysis
    c) Sequencing
    d) Collection
  4. Sampling is simply a process of learning about the ______ on the basis of a
    sample drawn from it.
    a) Census
    b) Population
    c) Group
    d) Area

  1. Numerical facts are usually subjected to statistical analysis with a view to helping a decision-
    maker make wise decisions in the face of _______.

a) Interpreting
b) Uncertainty
c) Summarizing
d) Organizing

  1. In statistics, _______________ classification includes data according to the
    time period in which the items under consideration occurred.
    a) Chronological
    b) Alphabetical
    c) Geographical
    d) Topological
  2. Data is simply the numerical results of any scientific__________________.
    a) Analysis
    b) Researches
    c) Observation
    d) Measurement
  3. The ____ process would be required to ensure that the data is complete and as
    a) Tabulation
    b) Analysis
    c) Editing
    d) Ordering
  4. A sample is a portion of the ____ population that is considered for study and
    a) Selected
    b) Total
    c) Fixed
    d) Random
  5. The method of sampling, in which the choice of sample items depends exclusively on the
    judgement of the investigator is termed as ____________.
    a) Convenience sampling
    b) Quota sampling
    c) Systematic sampling

d) Judgement sampling

  1. Both the sampling as well as the non-sampling errors must be reduced to a minimum in order
    to get as representative a sample of the _______ as possible.
    a) Group
    b) Region
    c) Population
    d) Universe
  2. The larger the size of the population, the _______ should be the sample size.
    a) Smaller
    b) Larger
    c) Accurate
    d) Fixed
  3. A variable is any characteristic which can assume ________ values.
    a) Different
    b) Similar
    c) Fixed
    d) Assumed
  4. The basic objective of a sample is to draw ________ about the population
    from which such sample is drawn.
    a) Conclusion
    b) Characteristics
    c) Inferences
    d) Parameters
  5. In _______ type of classification, the data is grouped together according to
    some distinguished characteristic or attribute, such as religion, sex, age, national origin, and so
    a) Quantitative
    b) Chronological


c) Qualitative
d) All of the above

  1. A _________ variable is a variable whose values can theoretically take on an
    infinite number of values within a given range of values.
    a) Continuous
    b) Discrete
    c) Random
    d) Both (a) and (b)
  2. A perfect random number table would be one in which every digit has been entered
    a) Chronologically
    b) Sequentially
    c) Randomly
    d) Arbitrarily
  3. The _____ random variables yield categorical responses so that the responses
    fit into one category or another.
    a) Quantitative
    b) Discrete
    c) Continuous
    d) Qualitative
  4. For a sample to be truly representative of the population, it must truly be________________.
    a) Fixed
    b) Random
    c) Specific
    d) Casual
  5. A __ __ is a phenomenon of interest in which the observed
    outcomes of an activity are entirely by chance, are absolutely unpredictable and may differ from
    response to response.
    a) Discrete variable
    b) Continuous variable
    c) Random variable
    d) All of the above
  6. By definition of randomness, each ____ __ has the same
    chance of being considered.

a) Possible entity
b) Probable entity
c) Random entity
d) Observed entity

  1. Before any procedures for _ _____ are established, the purpose
    and the scope of the study must be clearly specified.
    a) Data analysis
    b) Data tabulation
    c) Data collection
    d) Data selection
  2. Adequacy of data is to be judged in the light of the requirements of the survey and the
    geographical areas covered by the ______ data.
    a) Collected
    b) Available
    c) Organized
    d) Tabulated
  3. If the sample is truly representative of the population, then the characteristics of the sample
    can be considered to be the same as those of the ___ population.
    a) Fixed
    b) Selected
    c) Random
    d) Entire
  4. Statistical inference deals with methods of inferring or drawing _______
    about the characteristics of the population based upon the results of the sample taken from the
    same population.
    a) Details
    b) Decisions
    c) Conclusions
    d) Samples
  5. If the sample size is too small, it may not ___ represent the population or the
    universe as it is known, thus leading to incorrect inferences.
    a) Appropriately
    b) Reliably
    c) Homogeneously


d) Heterogeneously

  1. Editing would also help eliminate inconsistencies or obvious errors due to ___
    a) Characteristic
    b) Arithmetical
    c) Calculation
    d) Tabulation
  2. When an investigator uses the data which has already been collected by others, such data is
    called ___ _.
    a) Primary data
    b) Collected data
    c) Processed data
    d) Secondary data
  3. In the case of the questionnaire method of gathering data, it should be made certain that all
    the questions have been _________.
    a) Read
    b) Interpreted
    c) Answered
    d) All of the above
  4. _________ provides various types of statistical information of either
    qualitative or quantitative nature.
    a) Sampling
    b) Tabulation
    c) Observation
    d) Editing
  5. In statistics, ____________________classification groups the data according to locational
    differences among the items.
    a) Chronological
    b) Geographical
    c) Regional
    d) Alphabetical
  6. The degree of randomness of selection would depend upon the process of selecting the items
    from the ____________.
    a) Population

b) Region
c) Sample
d) Data

  1. A _________ sample is obtained by selecting convenient population units
    a) Random
    b) Quota
    c) Stratified
    d) Convenience
  2. A ______ sample is formed by selecting one unit at random and then selecting
    additional units at evenly spaced intervals until the sample has been formed.
    a) Stratified
    b) Systematic
    c) Judgement
    d) Random
  3. The sampling errors arise due to drawing faulty inferences about the ______
    based upon the results of the samples.
    a) Sample
    b) Survey
    c) Population
    d) Census
  4. A summary measure that describes any given characteristic of the population is known as a
    a) Parameter
    b) Information
    c) Inference
    d) Statistics
  5. ____ means separating items according to similar characteristics and grouping
    them into various classes.
    a) Tabulation
    b) Editing
    c) Separation
    d) Classification

MCQ 16.1

An orderly set of data arranged in accordance with their time of occurrence is called:

(a) Arithmetic series                (b) Harmonic series     (c) Geometric series                (d) Time series

MCQ 16.2

A time series consists of:

(a) Short-term variations     (b) Long-term variations      (c) Irregular variations      (d) All of the above

MCQ 16.3

The graph of time series is called:

(a) Histogram              (b) Straight line           (c) Historigram                      (d) Ogive

MCQ 16.4

Secular trend can be measured by:

(a) Two methods         (b) Three methods      (c) Four methods       (d) Five methods

MCQ 16.5

The secular trend is measured by the method of semi-averages when:

(a) Time series based on yearly values                                   (b) Trend is linear

(c) Time series consists of even number of values                 (d) None of them

MCQ 16.6

Increase in the number of patients in the hospital due to heat stroke is:

(a) Secular trend         (b) Irregular variation              (c) Seasonal variation            (d) Cyclical variation

MCQ 16.7

The systematic components of time series which follow regular pattern of variations are called:

(a) Signal                    (b) Noise                     (c) Additive model                 (d) Multiplicative model

MCQ 16.8

The unsystematic sequence which follows irregular pattern of variations is called:

(a) Noise                     (b) Signal                    (c) Linear                                (d) Non-linear

MCQ 16.9

In time series seasonal variations can occur within a period of:

(a) Four years              (b) Three years            (c) One year                           (d) Nine years

MCQ 16.10

Wheat crops badly damaged on account of rains is:

(a) Cyclical movement            (b) Random movement         (c) Secular trend         (d) Seasonal movement

MCQ 16.11

The method of moving average is used to find the:

(a) Secular trend       (b) Seasonal variation             (c) Cyclical variation              (d) Irregular variation

MCQ 16.12

A complete cycle consists of a period of:

(a) Prosperity and depression                                      (b) Prosperity and recovery

(c) Prosperity and recession                                     (d) Recession and recovery

MCQ 16.13

A complete cycle passes through:

(a) Two stages             (b) Three stages          (c) Four stages                       (d) Difficult to tell

Most frequency used mathematical model of a time series is:

(a) Additive model         (b) Mixed model       (c) Multiplicative model     (d) Regression model

MCQ 16.15

A time series consists of:

(a) No mathematical model                                                    (b) One mathematical model

(c) Two mathematical models                                                (d) Three mathematical models

MCQ 16.16

In a straight line equation Y = a + bX; a is the:

(a) X-intercept            (b) Slope                     (c) Y-intercept                                   (d) None of them

MCQ 16.17

In a straight line equation Y = a + bX; b is the:

(a) Y-intercept            (b) Slope                     (c) X-intercept                        (d) Trend

MCQ 16.18

Value of b in the trend line Y = a + bX is:

(a) Always negative         (b) Always positive      (c) Always zero          (d) Both negative and positive

MCQ 16.19

In semi averages method, we decide the data into:

(a) Two parts               (b) Two equal parts  (c) Three parts             (d) Difficult to tell

MCQ 16.20

The sum of squares of residuals is denoted by:

MCQ 16.21

In fitting a straight line, the value of slope b remain unchanged with the change of:

(a) Scale                      (b) Origin       (c) Both (a) and (b)                 (d) Neither (a) and (b)

MCQ 16.22

If a straight line is fitted to the time series, then:

MCQ 16.23

Moving average method is used for measurement of trend when:

(a) Trend is linear     (b) Trend is non linear             (c) Trend is curvilinear            (d) None of them

MCQ 16.24

When the trend is of exponential type, the moving averages are to be computed by using:

(a) Arithmetic mean         (b) Geometric mean         (c) Harmonic mean                 (d) Weighted mean

MCQ 16.25

The long term trend of a time series graph appears to be:

(a) Straight-line        (b) Upward           (c) Downward         (d) Parabolic curve or third degree curve

MCQ 16.26

Indicate which of the following an example of seasonal variations is:

  • Death rate decreased due to advance in science

(b)  The sale of air condition increases during summer

  • Recovery in business                                 (d) Sudden causes by wars

The most commonly used mathematical method for measuring the trend is:

(a) Moving average method                                       (b) Semi average method

(c) Method of least squares                                      (d) None of them

MCQ 16.28

A trend is the better fitted trend for which the sum of squares of residuals is:

(a) Maximum              (b) Minimum             (c) Positive                  (d) Negative

MCQ 16.29

Decomposition of time series is called:

(a) Historigram            (b) Analysis of time series     (c) Histogram              (d) Detrending

MCQ 16.30

The fire in a factory is an example of:

(a) Secular trend         (b) Seasonal movements         (c) Cyclical variations             (d) Irregular variations

MCQ 16.31

Increased demand of admission in the subject of computer in Pakistan is:

(a) Secular trend       (b) Cyclical trend                    (c) Seasonal trend                   (d) Irregular trend

MCQ 16.32

Damages due to floods, droughts, strikes fires and political disturbances are:

(a) Trend                     (b) Seasonal                 (c) Cyclical                  (d) Irregular

MCQ 16.33

The general pattern of increase or decrease in economics or social phenomena is shown by:

(a) Seasonal trend       (b) Cyclical trend        (c) Secular trend        (d) Irregular trend

MCQ 16.34

In moving average method, we cannot find the trend values of some:

(a) Middle periods      (b) End periods           (c) Starting periods                 (d) Between extreme periods

MCQ 16.35

The best fitting trend is one which the sum of squares of residuals is:

(a) Negative                (b) Least                     (c) Zero                       (d) Maximum

MCQ 16.36

In fitting of a straight line, the value of slope remains unchanged by change of:

(a) Scale                      (b) Origin                   (c) Both origin and scale                     (d) None of them

MCQ 16.37

Depression in business is:

(a) Secular trend         (b) Cyclical                 (c) Seasonal                 (d) Irregular

MCQ 16.38

In fitting of straight line = 0

(a)  All the observed Y values lie on the line

  • All the Y values are greater than corresponding values
  • All the Y values are positive
  • None of them

Semi-averages method is used for measurement of trend when:

(a) Trend is linear                                                                 (b) Observed data contains yearly values

(c) The given time series contains odd number of values       (d) None of them

MCQ 16.40


(a) Give the trend in a straight line                 (b) Measure the seasonal variations

(c) Smooth-out the time series                      (d) None of them

MCQ 16.41

The rise and fall of a time series over periods longer than one year is called:

(a) Secular trend(b) Seasonal variation(c) Cyclical variation(d) Irregular variation
MCQ 16.42 A time series has: (a) Two components    (b) Three components    (c) Four components    (d) Five components

MCQ 16.43

The multiplicative time series model is:

(a) Y = T + S + C + I              (b) Y = TSCI              (c) Y = a + bX                         (d) Y = a + bX + cX2

MCQ 16.44

The additive model of the time series is:

(a) Y = T + S + C + I             (b) Y = TSCI               (c) Y = a + bX                         (d) Y = a + bX + cX2

MCQ 16.45

The difference between the actual value of the time series and the forecasted value is called:

(a) Residual          (b) Sum of variation          (c) Sum of squares of residual            (d) All of the above

MCQ 16.46

A pattern that is repeated throughout a time series and has a recurrence period of at most one year is called:

(a) Cyclical variation       (b) Irregular variation         (c) Seasonal variation            (d) Long term variation

MCQ 16.47

A business cycle has:

(a) One stage               (b) Two stages            (c) Three stages           (d) Four stages

MCQ 16.48

When the production of a thing is maximum, this stage is called:

(a) Boom                    (b) Recovery               (c) Recession               (d) Depression

MCQ 16.49

When the production of a thing is minimum, this stage is called:

(a) Prosperity              (b) Recession              (c) Recovery               (d) Depression

MCQ 16.50

When the production of thing is increasing towards prosperity, this stage is called as:

(a) Recession               (b) Recovery              (c) Boom                     (d) Depression

MCQ 16.51

When the production of thing is decreasing, this stage is called:

(a) Recession              (b) Recovery               (c) Prosperity              (d) Depression

The straight line is fitted to the time series when the movements in the time series are:

(a) Nonlinear               (b) Linear                   (c) Irregular                 (d) Upward

MCQ 16.53

If an annual time series consisting of even number of years is coded, then each coded interval is equal to:

(a) Half year                (b) One year                (c) Both (a) and (b)                (d) Two years

MCQ 16.54

A second degree parabola has:

(a) One constant                      (b) Two constant         (c) Three constant                 (d) No constant

MCQ 16.55

The normal equations in fitting a second degree parabola are:

(a) Two                       (b) Three                    (c) Four                       (d) Five

MCQ 16.56

The second degree parabola is fitted to the time series when the variations are:

(a) Linear                    (b) Nonlinear             (c) Random                             (d) Downward

MCQ 16.57

In fitting a second degree parabola, the value of c is not affected with the change of :

(a) Scale                      (b) Origin                   (c) Both (a) and (b)                 (d) Neither (a) and (b)

MCQ 16.58

For odd number of year, formula to code the values of X by taking origin at centre is:

(a) X = year – average of years                    (b) X = year – first year

(c) X = year – last year                                   (d) X = year – ½ average of years

MCQ 16.59

For even number of years when origin is in the centre and the unit of X being one year, then X can be coded as:

(a) X = (year – average of years)/2                 (b) X = year – average of years

(c) X = year – 0.5 average of years                 (d) X = average of years – year

MCQ 16.60

For even number of years when origin is in the centre and the unit of X being half year, then X can be coded as:

(a) X = year – average of years                       (b) X = 2(year – average of years)

(c) X = (year – average year)/2                       (d) X = year – ½ average of years

MCQ 16.61

In semi averages method, if the number of values is odd then we drop:

(a) First value              (b) Last value              (c) Middle value                    (d) Middle two values

MCQ 16.62

The trend values in freehand curve method are obtained by:

(a) Equation of straight line                            (b) Graph

(c) Second degree parabola                             (d) All of the above

MCQ 16.63

∑X = ∑X3 = 0, if origin is:

(a) At the end of time period                                      (b) Any where

(c) At the middle of time period                               (d) At the beginning of time period

Index numbers and their uses:


Q1. The index numbers are used to measure the changes in the price of commodities is called

  1. Price index number
  2. Quantity index number
  3. Consumer’s price index numbers
  4. Quantity index number

2. For calculating weighted index numbers, which of the following method useful quantities consumed in the base period as weight:

  1. Fisher method
  2. Paasche’s method
  3. Palgrave’s method
  4. Lespeyre’s method

3. The index number for the base year is

  1. 200
  2. 100
  3. 50
  4. 10

4. In chain base methods the base period is:

  1. Changed
  2. Fixed
  3. Constant
  4. None of these

5. The weights used in a quantity index are:

  1. Prices
  2. Quantities
  3. Values
  4. None of these

6. All values of equal importance are used in calculating an index, the index is called:

  1. Simple Index
  2. Composite Index
  3. Weighted Index
  4. Unweighted Index

7. The variation in two or more variables studies by the index is called:

  1. Composite index
  2. Simple index
  3. Price index
  4. None of these

8. Consumer’s price index numbers are calculated by:

  1. Fisher’s formula
  2. Paasche’s formula
  3. Palgrave’ formula
  4. Laspeyre’s formula

9. A relative obtained by dividing the price in a given year by price in proceeding year and expressed as a percentage is called:

  1. Price relative
  2. Volume relative
  3. Link relatives
  4. None of these

10. Time reversal test is satisfied by

  1. Paasche’s index
  2. Lespeyre’s index
  3. Fisher’s index
  4. None of these

11. The Basic types of index numbers are:

  1. Six
  2. Five
  3. Three
  4. Two

12. A relative obtained by dividing the price in a given year price in the base year and expressed as a percentage is called:

  1. Link relatives
  2. Price relatives
  3. Volume index
  4. None of these

13. An index number that can serve many purposes is called

  1. Simple index number
  2. Special purpose index
  3. General purpose index
  4. Consumer price

14. In simple price index numbers, the base period is

  1. Changed
  2. Fixed
  3. Constant
  4. None of these

15. Pon=ΣpnqnΣp0qn×100 is the formula of: (FORMULA MISMATCHED)

  1. Lespeyre’s index numbers
  2. Paasche’s index numbers
  3. Fisher’s index numbers
  4. Marshall-Edgeworth index

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