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Business Statistics & Mathematics Challenge Test

1. The specific statistical methods that can be used to summarize or to describe a


collection of data is called:
a. Descriptive statistics
b. Inferential statistics
c. Analytical statistics
d. All of the above

2. A population, in statistical terms, is the totality of things under consideration. It
is the collection of all values of the _________________ that is under study.
a. Instance
b. Variable
c. Amount
d. Measure

3. Sampling is simply a process of learning about the __________________ on the basis
of a sample drawn from it.
a. Census
b. Population
c. Group
d. Area

4. A _____________________ variable is a variable whose values can theoretically
take on an infinite number of values within a given range of values.

a. Continuous
b. Discrete
c. Random
d. Both (a) and (b)

5. The sampling errors arise due to drawing faulty inferences about the
__________________ based upon the results of the samples.

a. Sample
b. Survey
c. Population
d. Census

6. A summary measure that describes any given characteristic of the population is known
as a __________________.
a. Parameter
b. Information
c. Inference
d. Statistics



7. A function very similar to that of sorting letters in a post office is:
a. Mean
b. Standard deviation
c. Classification
d. Mean deviation

8. If a sample of size n from a given finite population of size N, then the total number of
samples is:
a. N! / (N n)!
b. N!
c. N! /n!
d. N! /n! (N n )!

9. Standard error of the sampling distribution of a statistic t is:

a. Standard deviation
b. Median
c. Variance
d. Mean

10. The standard deviation for 15, 22, 27, 11, 9, 21, 14, 9 is:

a. 6.22
b. 6.12
c. 6.04
d. 6.32

11. A student obtained the mean and the standard deviation of 100 observations as 40 and
5.1. It was later found that one observation was wrongly copied as 50, the correct
figure being 40. Find the correct mean and the S.D.

a. Mean = 38.8, S.D =5
b. Mean = 39.9, S.D =5
c. Mean = 39.9, S.D = 4
d. None

12. The mean deviation about median from the data: 340, 150, 210, 240, 300, 310, 320
is:

a. 51.6
b. 51.8
c. 52
d. 52.8

13. The mean deviation from the median is:
a. Equal to that measured from another value
b. Maximum if all the observations are positive
c. Greater than that measured from any other value
d. Less than that measured from any value
14. The mean deviation of the series a, a + d, a +2d., a + 2n from its mean is
a. (n + 1) d /2n +1
b. nd /2n +1
c. n (n +1) d /2n +1
d. (2n +1) d /n (n+1)

15. The median of the observation 11, 12, 14, 18, x + 4, 30, 32, 35, 41 arranged in ascending
order is 24, then x is
a. 21
b. 22
c. 23
d. 24

16. In a moderately symmetric distribution mean, median and mode are connected by:
a. Mode = 2 median 3 mean
b. Mode = 3 median 4 mean
c. Mode = 3 median 2 mean
d. Mode = 2 median 4 mean

17. The mean of n observations is X. If k is added to each observation then the new mean is
a. X
b. X + k
c. X k
d. kX


18. The algebraic sum of the deviations of a set of n values from their mean is
a. 0
b. n 1
c. n
d. n + 1

19. The geometric mean of 10 observation s on a certain variable was calculated as 16.2.
It was later discovered that one of the observations was wrongly recorded as 12.9; in
fact it was 21.9. The correct G.M is:
a. 17.12
b. 18.43
c. 17.08
d. 18.15

20. From the monthly income of 10 families find the coefficient of range is:

a. 0.1
b. 0.6
c. 0.84
d. 0.56
S. No: 1 2 3 4 5 6 7 8 9 10
Income in (Rs.): 145 367 268 73 185 619 280 115 870 315

21. Find the value of third quartile if the values of first quartile and quartile deviation are
104 and 108 respectively.
a. 130
b. 140
c. 120
d. 110

22. Mean deviation which is calculated is minimum at:
a. Mean
b. Median
c. Mode
d. All the three

23. For any discrete distribution standard deviation is not less than
a. Mean deviation from mean
b. Mean deviation from median
c. Mode
d. None of these

24. Mean of 10 items is 50 and S.D is 14. Find the sum of squares of all items
a. 26543
b. 26960
c. 27814
d. 27453

25. Find the range for the following data
14, 16, 16, 14, 22, 13, 15, 24, 12, 23, 14, 20, 17, 21, 22, 18, 18, 19, 20, 17, 16, 15,
11, 12, 21, 20, 17, 18, 19, 23.

a. 13
b. 12
c. 14
d. 16

26. Cumulative frequencies are usually represented graphically by _______.
a. histograms
b. pie charts
c. Ogives
d. frequency polygons

27. If the median of a distribution is greater than mean, then the distribution i
a. not skewed
b. symmetrical about its mean
c. skewed to the left
d. skewed to the right



28. The interquartile range is _____________.
a. the largest value minus the least value
b. the ratio of the mean to the standard deviation
c. negative if the distribution is skewed to the left
d. Q
3
- Q
1


29. A statistics student made the following grades on 5 tests: 84, 78, 88, 78, and 72. What is the
mean grade?
a. 78
b. 80
c. 72
d. 84

30. A statistics student made the following grades on 5 tests: 84, 78, 88, 72, and 72. What is the
median grade?
a. 88
b. 72
c. 78
d. 80

32. What percentage of numbers from 1 to 70 have 1 or 9 in the unit's digit?
a. 1
b. 14
c. 20
d. 21


33. Three candidates contested an election and received 2236, 15272 and 23256 votes respectively. What
percentage of the total votes did the winning candidate get?
a. 57%
b. 60%
c. 65%
d. 90%


34. Gauri went to the stationers and bought things worth Rs. 25, out of which 30 paise went on sales tax on
taxable purchases. If the tax rate was 6%, then what was the cost of the tax free items?
a. Rs. 15
b. Rs. 15.70
c. Rs. 19.70
d. Rs. 20

35. The population of a Lalitpur town increased from 1,75,000 to 2,62,500 in a decade. The average percent
increase of population per year is:
a. 4.37%
b. 5%
c. 6%
d. 8.75%

36. How much time will it take for an amount of Rs. 450 to yield Rs. 81 as interest at 4.5% per annum of
simple interest?
a. 3.5 years
b. 4 years
c. 4.5 years
d. 5 years


37. If the simple interest on a sum of money for 2 years at 5% per annum is Rs. 50, what is the compound
interest on the same at the same rate and for the same time?
a. Rs. 51.25
b. Rs. 52
c. Rs. 54.25
d. Rs. 60


38. At what rate of compound interest per annum will a sum of Rs. 1200 become Rs. 1348.32 in 2
years?
a. 6%
b. 6.5%
c. 7%
d. 7.5%


39. The compound interest on Rs. 30,000 at 7% per annum is Rs. 4347. The period (in years) is:
a. 2
b. 2
1
2

c. 3
d. 4


40. A can lay railway track between two given stations in 16 days and B can do the same job in 12 days.
With help of C, they did the job in 4 days only. Then, C alone can do the job in:
a. 9
1
days
5

b. 9
2
days
5

c. 9
3
days
5

d. 10

41. A alone can do a piece of work in 6 days and B alone in 8 days. A and B undertook to do it for Rs.
3200. With the help of C, they completed the work in 3 days. How much is to be paid to C?

a. Rs. 375
b. Rs. 400
c. Rs. 600
d. Rs. 800


42. Twenty women can do a work in sixteen days. Sixteen men can complete the same work in
fifteen days. What is the ratio between the capacity of a man and a woman?
a. 3 : 4
b. 4 : 3
c. 5 : 3
d. Data inadequate


43. A and B can do a job together in 7 days. A is 1 times as efficient as B. The same job can be
done by A alone in :
a. 9
1
days
3

b. 11 days
c. 12
1
days
4

d. 16
1
days
3


44. A and B can do a work in 8 days, B and C can do the same work in 12 days. A, B and C together can
finish it in 6 days. A and C together will do it in :
a. 4 days
b. 6 days
c. 8 days
d. 12 days


45. If Rs. 782 be divided into three parts, proportional to : : , then the first part is:
a. Rs. 182
b. Rs. 190
c. Rs. 196
d. Rs. 204


46. Salaries of Ravi and Sumit are in the ratio 2 : 3. If the salary of each is increased by Rs. 4000, the new
ratio becomes 40 : 57. What is Sumit's salary?
a. Rs. 17,000
b. Rs. 20,000
c. Rs. 25,500
d. Rs. 38,000


47. A trader owes a merchant Rs. 10,028 due 1 year hence. The trader wants to settle the account after
3 months. If the rate of interest 12% per annum, how much cash should he pay?
a. Rs. 9025.20
b. Rs. 9200
c. Rs. 9600
d. Rs. 9560



48. The present worth of Rs. 1404 due in two equal half-yearly installments at 8% per annum simple
interest is:
a. Rs. 1325
b. Rs. 1300
c. Rs. 1350
d. Rs. 1500


49. A man buys a watch for Rs. 1950 in cash and sells it for Rs. 2200 at a credit of 1 year. If the rate of
interest is 10% per annum, the man:
a. gains Rs. 55
b. gains Rs. 50
c. loses Rs. 30
d. gains Rs. 30


50. If the mid points of the classes are 16, 24, 32, 40, and so on, then the magnitude of
the class interval is:
a. 8
b. 9
c. 7
d. 6