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 6 of 9

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Q51.
The knowledge of possible errors, point estimate and the degree of confidence is classified as
Discuss
Answer: (d).both a and b
Q52.
In confidence interval estimation, the formula of calculating confidence interval is
Discuss
Answer: (b).point estimate ± margin of error
Q53.
The difference between value of parameter of population and value of unbiased estimator point is classified as
Discuss
Answer: (a).sampling error
Q54.
If the critical value of normal standard variable is 0.95 and the standard error of specific statistic 3.5 then the margin of error is
Discuss
Answer: (b).3.325
Q55.
Considering the sample statistic, if the sample statistic mean is not equal to population parameter then sample statistic is considered as
Discuss
Answer: (b).biased estimator
Q56.
The criteria of selecting the point estimator must include the information of
Discuss
Answer: (d).all of above
Q57.
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
Q58.
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
Q59.
The focus groups, individual respondents and panels of respondents are classified as
Discuss
Answer: (d).primary data sources
Q60.
The variables whose measurement is done in terms such as weight, height and length are classified as
Discuss
Answer: (a).continuous variables
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