Basics of Statistics Quiz

Basics of Statistics

• The term "Statistics" is derived from the words "STATUS/STATISTA/STATISTIK" in Latin, Italian, and German languages.

Statistical Calculations

• The sum of squares of the numbers -5, -4, -3, -2, -1, 0, +1, +2, +3, +4, +5 is 50 (ΣX² = 50).

• The sum of the numbers 1, 2, 3, …, 50 is 1275 (ΣX = 1275).

Types of Errors

• Compensating errors are a type of random error.

Classifications

• Students at Punjab University can be classified using a three-way or manifold classification system.

Tables

• Source notes are an essential part of a table.

Box-and-Whisker Plots

• The first, second, and third quartiles are used in a box-and-whisker plot.

Averages

• Mode is the average that shows the peak in a histogram.
• Arithmetic mean is a special case of a trimmed mean.

Harmonic Mean

• The harmonic mean of the data set | X | F | |---|---| | 2 | 3 | | 3 | 2 | | 4 | 4 | is 6

Dispersion

• The coefficient of dispersion for a data set with a lower value of 3 and an upper value of 9 is 0.50.

Chebyshev's Inequality

• Chebyshev's inequality states that the range X ± 2SD contains at least 75% of the observations.

Sheppard's Correction

• Sheppard's correction is not applicable for U-shaped distributions.

Visualizing Distributions

• J-shaped curves represent extremely skewed distributions.
• In a U-shaped curve, maximum frequencies occur at both ends.

Indexes

• Value index = (Sum of product of current price and current quantity) / (Sum of product of base year price and quantity).
• For a value index where the sum of product of current price and current quantity = 50 and the sum of product of base year price and quantity = 100, the value index is 50%.

Test your knowledge on the fundamentals of statistics, including statistical calculations, types of errors, and data classifications. This quiz covers important concepts like box-and-whisker plots, averages, and dispersion methods.