Lahore School of Economics

Business Mathematics and Statistics

MBA-I for Professionals

QUIZ 4
Name:_____________________

Section:__________________

Date: _____________________

Score: __________________

Choose the best answer

Total Marks: 20
Time allowed: 15 mins

Q1.

Q2.

Q3.

Q4.

Q5.

Q6.

Q7.

Q8.

A
B
C
D
0A
A
B
C
D
0A
A
B
C
D
0A
A
B
C
D
0A
A
B
C
D
0A
A
B
C
D
0A
A
B
C
D
0A
A
B
C
D

The science of statistics includes which of the following:

Organizing data.
Presenting data.
Interpreting data.
All of the above.
In descriptive statistics our main objective is to
Describe the population.
Describe the data we collected.
Infer something about the population.
Compute an average.
Which of the following statements is true regarding a population?
It must be a large number of values.
It must refer to people.
It is a collection of individuals, objects, or measurements of interest.
None of the above.
Which of the following statements is true regarding a sample?
It is a part of population.
It must contain at least five observations.
It refers to descriptive statistics.
All of the above are correct.
A qualitative variable
Always refers to a sample.
Is not numeric.
Has only two possible outcomes.
All of the above are correct.
A discrete variable is
An example of a qualitative variable.
Can assume only whole number values.
Can assume only certain clearly separated values.
Cannot be negative.
A nominal scale variable is
Continuous in nature.
Has a meaningful zero point (i.e. zero means absence).
Measuring attribute or quality.
Cannot have more than two categories.
The ratio scale of measurement
Can involve ranking.
Cannot assume negative values.
Has a meaningful zero point (i.e. zero means absence).
All of the above.

Lahore School of Economics

Business Mathematics and Statistics

Q9.

Q10
.

Q11.

Q12
.

Q13
.

Q14
.

Q15
.

Q16
.

Q17
.

MBA-I for Professionals

0A
A
B
C
D
0A

The ordinal scale of measurement

Has a meaningful zero point (i.e. zero means absence).
Is based on ranks
Cannot assume negative values.
All of the above.
Which of the following are examples of continuous variables?

A
B
C
D
0A
A
B
C
D
0A

Birth weight of babies

Distance between the Liberty Campus and Burki Campus
Age of the CEOs of the Fortune 500 companies
All of the above.
In a frequency distribution the categories must
Be mutually exclusive.
Have at least 5 observations.
Be of the same size.
Be of nominal scale.
To determine the class interval

A
B
C
D
0A

Divide the class frequencies in half.

Divide the class frequency by the number of observations.
Find the difference between consecutive lower class limits.
Count the number of observations in the class.
The class frequency is

A
B
C
D
0
A
B
C
D
0A

The number of observations in each class.

The difference between consecutive lower class limits.
Always contains at least 5 observations.
Usually a multiple of the lower limit of the first class.
A research organization is making a study of the selling price of home computers.
There are 45 computers in the study. How many classes would you recommend?
10
20
6
3
To find the class midpoint

A
B
C
D
0A

Divide the class interval in half and add the result to the lower limit.
Find the difference between consecutive lower limits.
Count the number of observations in the class.
Divide the class frequency by the number of observations.
Which of the following is NOT a guideline for a frequency distribution?

A
B
C
D
0A

Avoid open-ended classes.

Have more than 5 but less than 15 classes.
Make the lower limit of the first class a multiple of the class interval.
Have more than 5 observations in each class.
To convert a frequency distribution to a relative frequency distribution

Lahore School of Economics

Business Mathematics and Statistics
A
Find the difference between consecutive lower class limits.
B
Divide the class frequency by the total number of observations.
C
Divide the lower limit of the first class by the class interval.
D
Multiple the class frequency by 100.

MBA-I for Professionals

The following information is on the number of units assembled per shift at Acme Assembly, Inc.
Units Assembled
20 up to 30
30 up to 40
40 up to 50
50 up to 60
60 up to 70
70 up to 80
Total
Q18
.

0A

The class interval is:

A
B
C
D

10
25
9
None of the above.

Shifts
16
25
51
80
20
8
200

0A
The following information is on the number of units assembled per shift at Acme Assembly, Inc.
Units Assembled
20 up to 30
30 up to 40
40 up to 50
50 up to 60
60 up to 70
70 up to 80
Total
Q19
.

Q20
.

Shifts
16
25
51
80
20
8
200

0A

The frequency for the third class is

A
B
C
D
0A

200
51
10
None of the above.
In a frequency table

A
B
C
D

The classes must be mutually exclusive.

The data is quantitative.
There should be at least 100 observations in the sample.
All of the above are correct.

Lahore School of Economics

Business Mathematics and Statistics

MBA-I for Professionals

Lahore School of Economics

Business Mathematics and Statistics

MBA-I for Professionals

QUIZ 4
Name:_____________________
Date: _____________________
__________________

Section:__________________
Score:

Choose the best answer

Total Marks: 20
Time allowed: 15
mins
Q1.

Q2.

0A
A
B
C
D
0A

Q4.

A
B
C
D
0A
A
B
C
D
0A

Q5.

A
B
C
D
0A

Q3.

Q6.

A
B
C
D
0A
A
B
C
D

The ordinal scale of measurement

Has a meaningful zero point (i.e. zero means absence).
Is based on ranks
Cannot assume negative values.
All of the above.
In a set of observations, which measure of central tendency
reports the value that occurs most often?
Mean
Median
Mode
Geometric mean
In a frequency distribution the categories must
Be mutually exclusive.
Have at least 5 observations.
Be of the same size.
Be of nominal scale.
To convert a frequency distribution to a relative frequency
distribution
Find the difference between consecutive lower class limits.
Divide the class frequency by the total number of observations.
Divide the lower limit of the first class by the class interval.
Multiple the class frequency by 100.
Which of the following is NOT a guideline for a frequency
distribution?
Avoid open-ended classes.
Have more than 5 but less than 15 classes.
Make the lower limit of the first class a multiple of the class interval.
Have more than 5 observations in each class.
Which of the following statements is true regarding a sample?
It is a part of population.
It must contain at least five observations.
It refers to descriptive statistics.
All of the above are correct.

Lahore School of Economics

MBA-I for Professionals
Business Mathematics and Statistics
Q7.
A difference between calculating the sample mean and the
population mean is
A
Only in the symbols, we use instead of and n instead of N.
B
We divide the sum of the observations by n - 1 instead of n.
C
The observations are ranked and select the middle value for the
population mean.
D
There are no differences.
D
All of the above.
0A

Q8.

Q9.

Q1
0.

Q1
1.

Q1
2.

Q1
3.

A
B
C
D
0A
A
B
C
D
0A

Which level of measurement is required for the mode?

Nominal
Ordinal
Interval
All of the above.
A discrete variable is
An example of a qualitative variable.
Can assume only whole number values.
Can assume only certain clearly separated values.
Cannot be negative.
A qualitative variable

A
B
C
D
0A

Always refers to a sample.

Is not numeric.
Has only two possible outcomes.
All of the above are correct.
In a frequency table

A
B
C
D
0A

The classes must be mutually exclusive.

The data is quantitative.
There should be at least 100 observations in the sample.
All of the above are correct.
To find the class midpoint

A
B
C
D
0A

Divide the class interval in half and add the result to the lower limit.
Find the difference between consecutive lower limits.
Count the number of observations in the class.
Divide the class frequency by the number of observations.
For which level of measurement, median is not computed?

A
B
C
D

Nominal
Ordinal
Interval
Ratio
The ratio scale of measurement

A
B

Can involve ranking.

Cannot assume negative values.
Has a meaningful zero point (i.e. zero means absence).
All of the above.

Q1
4.

C
D

Lahore School of Economics

MBA-I for Professionals
Business Mathematics and Statistics
Q1
0A
The science of statistics includes which of the following:
5.
A
Organizing data.
B
Presenting data.
C
Interpreting data.
D
All of the above.
The following information is on the number of units assembled per shift at
Acme Assembly, Inc.
Units Assembled
Shifts
20 up to 30
16
30 up to 40
25
40 up to 50
51
50 up to 60
80
60 up to 70
20
70 up to 80
8
Total
200
0A

Q1
6.

Q1
7.

Q1
8.

Q1
9.

Q2
0.

The frequency for the third class is

A
B
C
D
0A

200
51
10
None of the above.
The class frequency is

A
B
C
D
0A

The number of observations in each class.

The difference between consecutive lower class limits.
Always contains at least 5 observations.
Usually a multiple of the lower limit of the first class.
In descriptive statistics our main objective is to

A
B
C
D
0A

Describe the population.

Describe the data we collected.
Infer something about the population.
Compute an average.
A nominal scale variable is

A
B
C
D
0A

Continuous in nature.
Has a meaningful zero point (i.e. zero means absence).
Measuring attribute or quality.
Cannot have more than two categories.
A research organization is making a study of the selling price of
home computers. There are 45 computers in the study. How
many classes would you recommend?
10
20
6
3

A
B
C
D

Lahore School of Economics

Business Mathematics and Statistics

MBA-I for Professionals