Business Statistics Basics MCQs

Welcome to our comprehensive collection of Multiple Choice Questions (MCQs) on Business Statistics Basics, a fundamental topic in the field of Business Statistics. Whether you're preparing for competitive exams, honing your problem-solving skills, or simply looking to enhance your abilities in this field, our Business Statistics Basics MCQs are designed to help you grasp the core concepts and excel in solving problems.

In this section, you'll find a wide range of Business Statistics Basics mcq questions that explore various aspects of Business Statistics Basics problems. Each MCQ is crafted to challenge your understanding of Business Statistics Basics principles, enabling you to refine your problem-solving techniques. Whether you're a student aiming to ace Business Statistics tests, a job seeker preparing for interviews, or someone simply interested in sharpening their skills, our Business Statistics Basics MCQs are your pathway to success in mastering this essential Business Statistics topic.

Note: Each of the following question comes with multiple answer choices. Select the most appropriate option and test your understanding of Business Statistics Basics. You can click on an option to test your knowledge before viewing the solution for a MCQ. Happy learning!

So, are you ready to put your Business Statistics Basics knowledge to the test? Let's get started with our carefully curated MCQs!

Business Statistics Basics MCQs | Page 1 of 9

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Q1.
The range or set of values which have chances to contain value of population parameter with particular confidence level is considered as
Discuss
Answer: (b).confidence interval estimate
Q2.
The upper and lower boundaries of interval of confidence are classified as
Discuss
Answer: (d).confidence limits
Q3.
For a parameter whose value is unknown, the belief or claim for that parameter is classified as
Discuss
Answer: (c).hypothesis testing
Q4.
If the standard deviation of population 1 is 3 with sample size is 8 and the population 2 standard deviation is 5 with sample size is 7 then the standard deviation of sampling distribution is
Discuss
Answer: (c).1.044
Q5.
Considering the sample statistic, if the mean of sampling distribution is equal to population mean then the sample statistic is classified as
Discuss
Answer: (a).unbiased estimator
Q6.
If the point estimate is 8 and the margin of error is 5 then the confidence interval is
Discuss
Answer: (a).3 to 13
Q7.
To develop interval estimate of any parameter of population, the value which is added or subtracted from the point estimate is classified as
Discuss
Answer: (d).margin of error
Q8.
In confidence interval estimation, the confidence efficient is denoted by
Discuss
Answer: (c).1 - ฮฑ
Q9.
Considering the sample size, the sampling distribution standard error decreases when the
Discuss
Answer: (a).size of sample increases
Q10.
The method in which the sample statistic is used to estimate the value of parameters of population is classified as
Discuss
Answer: (a).estimation
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