Business Statistics

It is the middle value of the given list of data when arranged in an order.

• Mode

• Median

• Mean

• None of these

It is the value that appears the most often in a data set

• Mean

• Median

• Mode

• None of These

It is the average of the given numbers and is calculated by dividing the sum of given numbers by the total number of numbers. 

• Mean

• Median

• Mode

• None of these

It is defined as the reciprocal of the average of the reciprocals of the data values.

• Arithmetic Mean

• Weightage Average

• Geometric Mean

• Harmonic Mean

It is the average value or mean which signifies the central tendency of the set of numbers by finding the product of their values.

• Weightage Average Mean

• Geometric Mean

• Harmonic Mean

• Arithmetic Mean

This method involves randomly selecting a sample from the population without any bias.

• Simple Random Sampling

• Systematic Random Sampling

• Stratified Random Sampling

• Cluster Random Sampling

This method involves dividing the population into subgroups or strata and selecting a random sample from each stratum.

• Quota Sampling

• Judgement Sampling

• Convenience sampling

• Stratified Random sampling

This method involves selecting every nth member of the population after a random starting point is chosen.

• Systematic Sampling

• Purposive Sampling

• Snowball Sampling

• None of these

It is a non-probability sampling technique where samples are selected from the population only because they are conveniently available to the researcher.

• Cluster Sampling

• Quota Sampling

• Systemic Sampling

• Convenience Sampling

In this method, researchers select the samples based purely on the researcher’s knowledge and credibility.

• Quota Sampling

• Snowball Sampling

• Judgement Sampling

• None of these