Question:

Statistics is the study of _______ measures of the values associated with variables

A.

verbal

B.

pictorial

C.

descriptive

D.

numerical

Answer» d. numerical

Question:

A monthly price index that uses the price changes in consumer goods and services formeasuring the changes in consumer prices over time is known as the

A.

paasche index

B.

consumer price index

C.

producer price index

D.

laspeyres index

Answer» b. consumer price index

Question:

An index number is used:

A.

to measure changes in quantity

B.

to measure changes in demand

C.

to measure changes in a variable over time

D.

to measure changes in price

Answer» c. to measure changes in a variable over time

Question:

In the equation of a straight line, Y = mX + c , if c is equal to zero then:

A.

the line of best fit passes through the origin

B.

the line of best fit cuts the x axis to the right of the y axis

C.

does not cross the x axis

D.

the line of best fit cuts the x axis to the left of the y axis

Answer» a. the line of best fit passes through the origin

Question:

You are conducting a study to see whether a new experimental medication will cause baldmen to grow hair. You divide your patients into 2 groups. To one group you give the medication. To the other group, you give a placebo. In this study, the correct terms for the taking of the medication and the growth of hair are the following.

A.

both the medication and the hair growth are dependent variables

B.

both the medication and the hair growth are independent variables

C.

the medication is the dependent variable, and the hair growth is the independent variable

D.

the medication is the independent variable, and the hair growth is the dependent variable

Answer» d. the medication is the independent variable, and the hair growth is the dependent variable

Question:

What method is used to sample a population so that it is representative of the population

A.

samples are chosen at random from the population

B.

every other element in a population is chosen

C.

all but the observations that have the lowest and highest values are selected

D.

only the first half of a population is selected

Answer» a. samples are chosen at random from the population

Question:

When a north Indian town data and south Indian data are totalled, it leads to the problemof _________aggregation.

A.

national

B.

regional

C.

spatial

D.

heterogeneous

Answer» c. spatial

Question:

The Laspeyres price index:

A.

regards the current year quantities as fixed

B.

regards the base year quantities as fixed

C.

regards the base year prices as fixed

D.

regards the current quality as fixed

Answer» b. regards the base year quantities as fixed

Question:

A ______ is a value that may change within the scope of a given problem or set ofoperations

A.

constant

B.

variable

C.

function

D.

exponent

Answer» b. variable

Question:

A single-equation econometric model of the demand for a product is a ________equation in which the quantity demanded of the product is an ________ variable

A.

structural, exogenous

B.

structural, endogenous

C.

definitional, exogenous

D.

definitional, endogenous

Answer» b. structural, endogenous