Business Statistics - Module 1

Descriptive Statistics are used to make predictions

• True

• False

Measure of Variability is an example of

• Descriptive Statistics

• Inferential statistics

• None of these

Which of the following application of statistics helps in identifying trends, patterns and correlations in large sets of data?

• Quality Control

• Data Analysis

• Risk Management

• None of these

The presentation of data can be broadly classified into

• Only Tabular Presentation

• Only Diagrammatic or Graphical Presentation

• Both: Tabular Presentation and Diagrammatic or Graphical Presentation

• None of the options

Classification of Data:

• It condenses the data and facilitates comparisons

• It helps to study the relationships

• It facilitates the statistical treatment of the data

• All of the above

Variables which can take all the possible values in a given specified range are

termed as:

• Continuous Variables

• Discrete Variables

Tabulating customer data can help businesses understand their customers'

• preferences

• demographics

• buying behavior

• preferences, demographics and buying behavior

A frequency distribution is a table that displays the number of observations or

occurrences of values within a given data set.

• True

• False

The number of class intervals (k ) is calculated using Sturges Rule

• k = 1 + 3·322 log N

• k = 1 + 3·332 log N

• k = 1 + 3·333 log N

• None of these

In which type of class intervals, the upper limits of each class are excluded from the respective classes?

• Inclusive Type

• Exclusive Type