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 3 of 9

Q21.
If the true value of population parameter is 10 and the estimated value of population parameter is 15 then the error of estimation is
Discuss
Answer: (a).5
Q22.
The analysis of labor turnover rates, performance appraisal, training programs and planning of incentives are examples of role of
Discuss
Answer: (a).statistics in personnel management
Q23.
The focus groups, individual respondents and panels of respondents are classified as
Discuss
Answer: (d).primary data sources
Q24.
The variables whose measurement is done in terms such as weight, height and length are classified as
Discuss
Answer: (a).continuous variables
Q25.
The technique used to analyze unemployment rate, inflation rate anticipation and capacity utilization to manufacture goods is classified as
Discuss
Answer: (b).forecasting technique
Q26.
The numerical methods and graphical methods are specialized procedures used in
Discuss
Answer: (c).descriptive statistics
Q27.
The measure of how well is a technique, concept or process is considered as
Discuss
Answer: (c).validity
Q28.
The branch of statistics which considers the ratio scale and interval scale is considered as
Discuss
Answer: (a).parametric statistics
Q29.
The reports on quality control, production and financial accounts issued by the companies are considered as
Discuss
Answer: (b).internal secondary data sources
Q30.
In every phenomenon, the process of thought that focus on identifying, controlling and reduction of variations in data is classified as
Discuss
Answer: (c).statistical thinking
Page 3 of 9