Q. The error of rejecting the null hypothesis when it is true is known as?
Answer: Type-I error
Q. To find the average speed of a journey, which is the appropriate measure of central tendency?
Answer: Harmonic Mean
Q. If K denotes the degree of freedom, then the variance of Chi-square distribution is?
Answer: 2k
Q. What is the difference between a sample statistic and the population parameter?
Answer: Sampling error
Q. Which of the following statements about the Central Limit Theorem (CLT) is correct?
Answer: The sampling distribution of sample mean is approximately normal for large samples
Q. Which of the following is the correct statement regarding the coefficient of correlation?
Answer: It is independent of both the scale and origin
Q. Shahid receives a bonus of Rs. 50 for every Rs. 500 worth of merchandise he sells. Therefore the percentage (%) of his bonus is:
Answer: 10%
Q. Which does not deal with central quantity?
Answer: Range
Q. Which one detects a repeating number?
Answer: Mode
Q. To find the median, should the order be?
Answer: Both ascending or descending
Q. What is the median of the given set: 8, 5, 7, 5, 9, 9, 1, 8, 10, 5, 10?
Answer: 8
Q. A set of investments in Stock Market is called?
Answer: Portfolio
Q. Which of the following is a vector quantity?
Answer: None of these
Q. If the initial investment for a project is Rs 80,000, and discounted cash inflows are Rs 30,000 per year for three years, what is the IRR?
Answer: 10%
Q. A farmer invested Rs 10,000 in a new irrigation system. If the expected annual cash inflow is Rs 2,500 for five years, and the discount rate is 8%, what is the NPV?
Answer: -20
Q. If mode = 11 and mean = 12, median is?
Answer: 11.66
Q. If frequencies widely vary, best average is?
Answer: Weighted arithmetic mean
Q. A pattern multiplying constant each time is?
Answer: Geometric progression
Q. The set of all possible outcomes is called?
Answer: Sample space
Q. Two events with equal chance are called?
Answer: Equally likely events
Q. When die is rolled twice, sample points are?
Answer: 36
Q. Probability of red from 4 red, 5 blue, 1 green ball?
Answer: 4/10
Q. Probability of green after adding one green ball becomes?
Answer: 5/9
Q. Probability of getting head on coin is?
Answer: 0.50
Q. Result of (13 × 17) mod 5 is?
Answer: 1