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12th Economics Monthly Test - 2 ( Introduction to Statistical Methods and Econometrics )

St. Britto Hr. Sec. School - Madurai

12th Economics Monthly Test - 2 ( Introduction to Statistical Methods and Econometrics )-Aug 2020

Time : 2.30 Hours

Part - A

Multiple Choice Question - Answer All Question

Sorting of letters in the post office is a good example for

quantitative data
qualitative data
classification of data
tabulation of data

A magazine editor designs a survey to better serve the interests of the magazine’s readers. Some of the questions about the respondent include the respondent’s. Which of these variables are qualitative?
i) age. ii) gender. iii) income.

ii)
i) and iii)
ii) and iii)
i), ii), and iii)

The Central Statistical Office is one of the two wings of the __________.

NSSO
CSIR
MSOP
NSO

The word 'statistics' is used as _______

Singular.
Plural
Singular and Plural.
None of above

Statistics is a branch of

Commerce
Mathematics
Economics
Accountancy

The term ‘Regression’ was first coined and used in 1877 by________.

Hicks
Friedman
Galton
Spearman

Econometrics may be considered as the integration of _________.

economics, statistics and mathematics
econometrics, statistics and mathematics
economics, applied statistics and mathematics
econometrics, statistics and applied mathematics

Sources of published and unpublished data are called

Primary
Tertiary
Secondary
None of these

When the correlation coefficient, r, is close to one:

there is no relationship between the two variables
there is a strong linear relationship between the two variables
it is impossible to tell if there is a relationship between the two variables
the slope of the regression line will be close to one

Assertion (A) : Statistics describes the population under study.
Reason (R) : Statistics draws condution for the population

Both A and R are true and R is the Correct explanation of A
Both A and Rare true but R is not the correct explanation of A
A is true but R is false
A is false but R is true

Those data which do not already exist in any form, and thus have to be collected for the first time from the primary source(s).

Secondary data
Vital data
Raw data
Primary data

Standard deviation can be derived from variance simply by taking its

square root
quotient
cubic root
summation

Correlation co-efficient measure the strength of the linear relationship between ___________ variables.

one
two
three
none

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)

________ are the outcome of classification into two or more categories of items or units comprising a sample or a population according to some quality characteristic.

Real data
Quantitative data
Nominal data
Qualitative data

Part - B

Generic 2 - Answer All Question

What do you mean by Inferential Statistics?

Write a note on absolute measure of dispersion.

State the meaning of different types of data.

Write the meaning of Rank Data/
What is data?

What is the meaning of Partial Correlation?

Write the definition of economics in the words of Ragnar Frisch.

Write any two functions of statistics.

Part - C

Generic 3 - Answer All Question

What are the aims of econometrics analysis?

State and explain the different kinds of Correlation

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

How an econometric model is done?

Calculate the AM of 305, 320, 332, 350

List any three difference between correlation and regression.
Differentiate the economic model with econometric model.

What are the functions of Statistics?

Part - D

Generic 5 - Answer All Question

To fit Regression equations X on Y andY on X the following data given

\(\overline { X } =25,\overline { Y } =18,{ \sigma }_{ X }=3.01,{ \sigma }_{ Y }=3.03,r=0.89\)

Describe the application of Econometrics in Economics.

Enumerate the methodology of econometrics?

Compute the Pearson r for the same sets of data using the raw score method

X 9, 13, 6, 18, 14, 12, 11, 7, 2, 6, 14, 15, 5, 8,

Y 23, 40, 10, 48, 25, 30, 15, 10, 5, 45, 40, 35, 12, 27

List the degrees of correlation corresponding to variousvalues of r.

Find out graphically, if there is any correlation between price yield per plot (qtls); denoted by
Y and quantity of fertilizer used (kg); denote by X.

Plot No: 1 2 3 4 5 6 7 8 9 10

Y: 3.5 4.3 5.3 5.8 6.4 7.3 7.2 7.5 7.8 8.3

X: 6 8 9 12 10 15 17 20 18 24

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