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Unit 05
Business Statistics and Research Methods
Part 01
- Measures of central tendency
- Measures of dispersion
- Measures of skewness
- Correlation and regression of two variables
- Probability: Approaches to probability; Bayes’ theorem
- Probability distributions: Binomial, poisson and normal distributions
- Research: Concept and types; Research designs
- Data: Collection and classification of data
- Sampling and estimation: Concepts; Methods of sampling - probability and nonprobability methods; Sampling distribution; Central limit theorem; Standard error; Statistical estimation
- Hypothesis testing: z-test; t-test; ANOVA; Chi–square test; Mann-Whitney test (Utest); Kruskal-Wallis test (H-test); Rank correlation test
- Report writing
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MCQ 01: Which one of the following is a relative measure of dispersion
a.Standard deviation
b. Variance
c. Co-efficient of variation
d. None of the above
Answer : Co-efficient of variation
Relative measures of dispersion are measures of the variance of a range of values regardless of its unit of measure
There are four relative measures of dispersion:
- Coefficient of Range
- Coefficient of Quartile Deviation
- Coefficient of Mean deviation
- Coefficient of variation
Co-efficient of variation-
The type of the relative measures of dispersion that corresponds to standard deviation
Standard deviation -
is a measure of the amount of variation or dispersion of a set of values
Variance -
measures how far a data set is spread out
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MCQ 02: Convenience sampling is a -
a. Probability Sampling
b. Non-probability Sampling
c. Random Sampling
d. None of the above
Answer: Non-probability Sampling
Sampling is a process used in statistical analysis in which a predetermined number of observations are taken from a larger population
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MCQ 03: A good hypothesis should be
a. formulated in such a way that it can be tested by the data
b. precise, specific and consistent with known facts
c. Conceptually clear
d. all of these
Answer: All of the above
A hypothesis is a tentative statement about the relationship between two or more variables. It is a specific, testable prediction about what you expect to happen in a study
Null hypothesis : is generally denoted as H0. It states that there is no exact or actual relationship between the variables.
Alternative hypothesis : is generally denoted as H1.It states that there is a statistically significant relationship between two variables
Simple Hypothesis:
It shows a relationship between one dependent variable and a single independent variable
Complex Hypothesis :
It shows the relationship between two or more dependent variables and two or more independent variables.
Directional Hypothesis:
It shows how a researcher is intellectual and committed to a particular outcome
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MCQ 04: Probability of rejecting the null hypothesis when it is true is called-
a. Type-II error
b. Type-I error
c. Standard error
d. None of these
Answer : Type 1 error
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MCQ 05: Which of the following statements are correct ?
a. Correlation is a statistical measure which determines co-relationship or association of two variables.
b. Regression describes how an independent variable is numerically related to the dependent variable.
c. The standard error is an estimate of the standard deviation of a statistic.
d. All of the above
Answer: All of the above
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