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12th Business Maths Weekly Test - 4 ( Applied Statistics )

St. Britto Hr. Sec. School - Madurai

12th Business Maths Weekly Test - 4 ( Applied Statistics )-Aug 2020

Time : 12.45 Hours

Part - A

Multiple Choice Question - Answer All Question

A typical control charts consists of

CL, UCL
CL, LCL
CL, LCL, UCL
UCL, LCL

Consumer price index are obtained by:

Paasche’s formula
Fisher’s ideal formula
Marshall Edgeworth formula
Family budget method formula

How many causes of variation will affect the quality of a product?

4
3
2
1

Cost of living at two different cities can be compared with the help of

Consumer price index
Value index
Volume index
Un-weighted index

The component of a time series attached to long term variation is trended as

Cyclic variation
Secular variations
Irregular variation
Seasonal variations

The LCL for R chart is given by

\({ D }_{ 2 }\bar { R } \)
\({ D }_{ 2 }\overset { = }{ R } \)
\({ D }_{ 3 }\overset { = }{ R } \)
\({ D }_{ 3 }\bar { R } \)

The quantities that can be numerically measured can be plotted on a

p - chart
c – chart
x bar chart
np – chart

R is calculated using

x_max-x_min
x_min-x_max
\(\overset{-}{x}\)_max-\(\overset{-}{x}\)_min
\(\overset{=}{x}\)_max-\(\overset{=}{x}\)_min

The seasonal variation means the variations occurring with in

A number of years
within a year
within a month
within a week

The components of a time series which is attached to short term fluctuation is

Secular trend
Seasonal variations
Cyclic variation
Irregular variation

The upper control limit for \(\overset {-}{X}\) chart is given by

\(\bar { X } +{ A }_{ 2 }\bar { R } \)
\(\overset { = }{ X } +{ A }_{ 2 }R\)
\(\overset { = }{ X } +{ A }_{ 2 }\bar { R } \)
\(\overset { = }{ X } +{ A }_{ 2 }\overset { = }{ R } \)

The assignable causes can occur due to

poor raw materials
unskilled labour
faulty machines
all of them

The additive model of the time series with the components T, S, C and I is

y=T+S+C×I
y=T+S×C×I
y=T+S+C+I
y=T+S×C+I

A time series is a set of data recorded

Periodically
Weekly
successive points of time
all the above

A time series consists of

Five components
Four components
Three components
Two components

Least square method of fitting a trend is

Most exact
Least exact
Full of subjectivity
Mathematically unsolved

Laspeyre’s index = 110, Paasche’s index = 108, then Fisher’s Ideal index is equal to:

110
108
100
109

Variations due to natural disorder is known as

random cause
non-random cause
human cause
all of them

Most commonly used index number is:

Volume index number
Value index number
Price index number
Simple index number

Which of the following Index number satisfy the time reversal test?

Laspeyre’s Index number
Paasche’s Index number
Fisher Index number
All of them

The value of ‘b’ in the trend line y=a+bx is

Always positive
Always negative
Either positive or negative
Zero

\(\overset {-}{X}\)chart is a

attribute control chart
variable control chart
neither Attribute nor variable control chart
both Attribute and variable control chart

Factors responsible for seasonal variations are

Weather
Festivals
Social customs
All the above

While computing a weighted index, the current period quantities are used in the:

Laspeyre’s method
Paasche’s method
Marshall Edgeworth method
Fisher’s ideal method

Another name of consumer’s price index number is:

Whole-sale price index number
Cost of living index
Sensitive
Composite

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