Statistics in Business and Government Quiz

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Which factor makes direct personal investigation time-consuming?

Extensive data collection (correct)

Complex data analysis

Inadequate research design

Limited availability of resources

What is a drawback of the direct personal investigation method?

Lack of accuracy

Personal Bias (correct)

Limited sample size

High cost

What type of distribution can a frequency distribution be?

Continuous

Discrete (correct)

Exponential

Uniform

Why is personal bias a concern in direct personal investigation?

It can lead to inaccurate conclusions Signup and view all the answers

Which characteristic of direct personal investigation makes it unsuitable for large-scale studies?

Subjectivity Signup and view all the answers

What does the number 456500 represent in the provided text?

Average price of the current year Signup and view all the answers

In the text, what does 'All of the above' refer to?

Average price of the base year and current year Signup and view all the answers

Which information is NOT provided in the text?

Average price of the base year Signup and view all the answers

What does the letter 'b' represent in the provided text?

Average price of the current year Signup and view all the answers

Based on the text, what does '11' signify?

'All of the above' minus 456500 Signup and view all the answers

Who primarily uses statistics?

Businessman Signup and view all the answers

What does the index number in statistics represent?

Price of current year Signup and view all the answers

Which group is least likely to make use of statistics?

Artists and musicians Signup and view all the answers

In statistics, what does 'P1' typically refer to?

Price of base year Signup and view all the answers

Why is it important to understand index numbers in statistical analysis?

To interpret trends and changes in data over time Signup and view all the answers

How do changes in consumer income affect demand according to the given text?

Consumer income has a direct impact on demand. Signup and view all the answers

Which of the following statements is correct based on the content provided?

Consumer income plays a role in influencing demand. Signup and view all the answers

What is the relationship between consumer income and demand as per the information given?

Consumer income fluctuations directly result in changes in demand. Signup and view all the answers

Why is it important to consider changes in consumer income in relation to demand?

Understanding the relationship helps predict market trends accurately. Signup and view all the answers

Which of the following is true regarding the influence of consumer income on demand?

Consumer income variations can lead to shifts in demand patterns. Signup and view all the answers

Which statement is correct based on the given information?

Assertion (A) is false and Reason (R) is true Signup and view all the answers

What does it mean if Assertion (A) is true but Reason (R) is false?

Assertion (A) contradicts Reason (R) Signup and view all the answers

If both Assertion (A) and Reason (R) are false, what can be inferred?

The logical connection between A and R is not established Signup and view all the answers

What misconception might arise if both Assertion (A) and Reason (R) are true?

Accepting both statements as true may lead to incorrect conclusions Signup and view all the answers

When Assertion (A) is true and Reason (R) is false, what might be a common misconception?

If A is true, then R must also be true Signup and view all the answers