ELEMENTS OF STATISTICS, SET 12

ELEMENTS OF STATISTICS

Q.1

In which field in the daily life the probability theory has major application.

Ans. 

Risk assessment and trade on commodity market.

Q.2

If the points of scatter diagram are widely scattered a __ between the variables is expected.

Ans. 

Greater amount of correlation.

Q.3

The correlation between price and demand of a commodity is

Ans. 

Negative.

Q.4

The another name of critical region is

Ans. 

Region of rejection.

Q.5

When does paired t-test is applicable ?

Ans. 

When the observations are paired together.

Q.6

Which test is often used to refer specifically to the one sample location test?

Ans. 

Z-test.

Q.7

Sampling inspection by variables requires

Ans. 

Less inspection than the attributes.

Q.8

The expected sample size required to arrive at a decision about a lot is called

Ans. 

Average sample number.

Q.9

Bowley index number formula is arithmetic mean of

Ans. 

Laspeyre's and Paasche's index number.

Q.10

One of the limitations in the construction of index number is

Ans. 

Choice of average.

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