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12th Economics Monthly Test - 1 ( Introduction to Statistical Methods and Econometrics )

St. Britto Hr. Sec. School - Madurai

12th Economics Monthly Test - 1 ( Introduction to Statistical Methods and Econometrics )-Aug 2020

Time : 2.30 Hours

Part - A

Multiple Choice Question - Answer All Question

Which is not a method of studying correlation?

Scatter diagram Method
Graphic Method
Karl Pearson’s Co - efficient of correlation and
Analysis of variance method

The term ‘Statistics’ is used in two senses: as and __.

singular and plural
horizontal and vertical
numerical and inferential
none of the above

Calculate the mean for given data 2,4,6,8,10.

6
30
5
15

_____________ is defined as the value of the variable, which occurs most frequently in a distribution.

Mean
Median
Mode
Arithmetic progression

Econometrics is the integration of

Economics and Statistics
Economics and Mathematics
Economics, Mathematics and Statistics
None of the above

Data collected for the first time for a specific purpose is called ____________ data.

primary
secondary
Raw
discreate

i) Statistics data are classified into two broad cat~gories.
(ii) (a) Qualitative data
(b) Quantitative data

Both (i) and (ii) are true
Both (i) and (ii) are false
(i) is true but (ii) is false
(i) is false but (ii) is true

Which of the statements do not hold true?

Both regression coefficients cannot be greater than 1
Regression coefficients are unaffected by origin shift and scale shift
Both correlation and regression coefficients are of same sign
Two regression lines coincide if r=±1

_____________ numbers are useful to study the trend of business and economic variable.

Mean
Median
Index
Range

The word 'statistics' is used as _______

Singular.
Plural
Singular and Plural.
None of above

A

Statistics, Mathematics

& Economics

(i)

Y₁=β₀ + β₁Y₁

B

Statistics Regression

(ii)

Econometrics

C

Econometrics Regression

(iii)

Correlation

D

Scatter Diagram

(iv)

Y₁=β₀ + β₁X₁+U₁

A - (ii), B - (i), C - (iv), D - (iii)
A - (iv), B - (iii), C- (ii), D - (i)
A- (iii), B- (iv), C - (i), D- (ii)
A- (ii), B- (iii), C- (iv), D - (i)

A)

Regression

(i)

P.C. Mahalanobis

B)

Correlation

(ii)

Ragnar Frisch

C)

Modern Statistics

(iii)

Francis Galton

D)

Econometrics

(iv)

Karl Pearson

A - (iv), B- (iii), C- (ii), D- (i)
A - (iii), B - (iv), C - (i), D - (ii)
A - (ii), B- (i), C- (iv), D- (iii)
A - (ii), B - (iii), C - (i), D - (iv)

What are the two Regression lines?

X on X => X = a + by and Y on X => Y = a + bx
X on Y => X = a + by and Y on X => Y = a + bx
Y on Y => X = a + by and Y on X => Y = a + bx
X on Y => X = a + bX and Y on X =>X = a + bx

The following are the examples for __________ : “Data from CSO, NSSO, RBI….”

secondary data
primary data
tertiary data
applied data

Time series patterns can be described in terms of ____________ basic component.

two
three
four
five

Part - B

Generic 2 - Answer All Question

Calculate the mean for given data 3, 4, 5, 6, 12.
Direct method \(\overline { X } =\frac { ∑x }{ n } \)
Where ∑x = Sum of values.
N = Number of items.

Mention the difference between linear and non linear correlation.

What are the methods of calculating SD?

What are the two kinds of measure of dispersion?
What is simple correlation?

Draw the diagram for prefect positive correlation.

What is scatter diagram?

What is partial correlation?

What are the Methods of Studying Correlation:?

What is positive c;orrelation?

What are the kinds of data?

Formula for calculating standard deviation.

What are the methods of studying correlation?

What is Econometrics?

What is Positive Correlation?

What is the important Disadvantages of Scatter diagram method?

Part - C

Generic 3 - Answer All Question

Draw the various kinds of scatter diagram.

State and explain the different kinds of Correlation

What are the limitation of statistics?

List any three difference between correlation and regression.

Find the Standard Deviation of the following data:14,22,9,15.20,17,12.11

State the types of correction on the basis of number of variables studied.

Draw the flow chart of Anatomy/methodology.

Calculate the co-efficient of correlation from the following data.

Calculate standard deviation and its co-efficient from the following data.

Income (wages)

10

20

30

40

50

60

No. of workers

10

20

25

20

15

10

Distinguish between linear and non linear correlation.
Differentiate the economic model with econometric model.

Part - D

Generic 5 - Answer All Question

Calculate standard deviation from the following data.

X

10

20

30

40

50

60

f

4

6

9

8

5

10

Elucidatethe nature and scope of Statistics.

What are the steps taken to calculate S.D?

Discuss in detail about the limitations of statistics.

Calculate the standard deviation for the following data by assumed mean method: 43, 48, 65, 57, 31, 60, 37, 48, 78, 59
The height of a child increases at a rate given in the table below. Fit the straight line using the method of least-square and calculate the average increase and the standard error of estimate.

Month 1 2 3 4 5 6 7 8 9 10

Height: 52.5 58.7 65 70.2 75.4 81.1 87.2 95.5 102.2 108.4

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