Question:

Barometric methods are used to forecast

A.

seasonal variation

B.

secular trend

C.

cyclical variation

D.

irregular variation

Answer» c. cyclical variation

Question:

Which of the following correlation coefficients shows the highest degree of association

A.

−1

B.

1

C.

0.9

D.

both a & b

Answer» d. both a & b

Question:

In correlation, which of the following tells us that we have a perfect positive relationship

A.

r = +1

B.

all the points on the scatter diagram would fall on a straight line and the slope would be from bottom left to top right of the plot

C.

the dots on the scatter diagram would fall in a straight line from top left-hand corner down to bottom right hand corner

D.

both a and b

Answer» d. both a and b

Question:

P10 is the index for time

A.

1 on 0

B.

0 on 1

C.

1 on 1

D.

b) 0 on 0

Answer» b. 0 on 1

Question:

The concept of a variable implies that the values of every characteristic of an item are different

A.

true

B.

false

C.

neither true nor false

D.

any of the above

Answer» b. false

Question:

A weighted aggregate price index where the weight for each item is its base periodquantity is known as the

A.

paasche index

B.

consumer price index

C.

producer price index

D.

laspeyres index

Answer» d. laspeyres index

Question:

Linear regression can achieve which of the following

A.

allow us to predict someone’s statistical grade from their mathematical ability

B.

allow us to identify how much variable y will change if variable x changes

C.

allow us to predict that as the weather gets 30% colder, then the sales of sweaters will increase by 50%.

D.

all of the above

Answer» a. allow us to predict someone’s statistical grade from their mathematical ability

Question:

Which of the following does not represent one method to obtain primary source data

A.

making observations

B.

sending a survey to customers

C.

looking in journals

D.

conducting an experiment

Answer» c. looking in journals

Question:

If the Pearson correlation co-efficient R is equal to 1 then:

A.

there is a perfect positive relationship between the two variables

B.

there is a positive relationship between the two variables

C.

there is no relationship between the two variables

D.

there is a negative relationship between the two variables

Answer» a. there is a perfect positive relationship between the two variables

Question:

The formula should be independent of the unit in which or for which price and quantitiesare quoted in

A.

unit test

B.

time reversal test

C.

factor reversal test

D.

none of the above

Answer» a. unit test