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12th Economics Weekly Test - 4 ( Introduction to Statistical Methods and Econometrics )

St. Britto Hr. Sec. School - Madurai

12th Economics Weekly Test - 4 ( Introduction to Statistical Methods and Econometrics )-Aug 2020

Time : 1.00 Hours

Part - A

Multiple Choice Question - Answer All Question

Find an example of Econometrics Regression

Yi = β0 + β1Xi
Yi = β0 + β1Xi+ Ui
Xi = β0 + β1Xi+ Ui
Yo = β0 + β1Xi+ Uo

________ are further classified as nominal and rank data.Eg.Gender, Community, honesty.

Raw data
Qualitative data
Refined data
Quantitative data

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

The Standard Deviation of the wage of 60 workers is calculated to be 12. If 10 rupees is deducted from the wage of each worker, then the standard deviation will

not be affected
reduce
increase
be unsteady

CSO stands for ___________

Central sample office
Central survey office
Central statistical office
None

The Statistics Wing called the National Statistical Office (NSO) consists of the _, the Computer Centre and .

NSO and MOSP
CSO and NSSO
ISRO and BARC
NSSO and NSO

Quantitative data deal with

historical data
numerical values
non-numerical values
raw data

The average distance between the mean and each point in the distribution is known as

mode
range
mean deviation
geometric mean

Height in centimetres, weight in kilograms, income in rupees are examples for __________ data.

quantitative
qualitative
discrete
continuous

__________ is coined by Ragnar Frisch.

Statistics
Accountancy
Econometrics
None

Match the correct codes

1 Statistics
Regression 1 Y = β0 + β1X1 +
β2X2 + β3X3+Ui

2 Econometrics
Regression 2 β0 + β1Xi

3 More than 2
variables 3 Yi = β0 + β1Xi

4 Systematic Part 4 Yi = β0 + β1Xi

(1) – (i) (2) – (ii) (3) – (iv) (4) – (iii)
(1) – (ii) (2) – (iii) (3) – (iv) (4) – (i)
(1) – (iv) (2) – (iii) (3) – (i) (4) – (ii)
(1) – (i) (2) – (ii) (3) – (iii) (4) – (iv)

(i) Statistics does not facilitate comparison.
(ii) Statistics helps in prediction.

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

In a linear regression equation, Y=a + bX, what is the b denote?

the regression coefficient, the slope of the line.
the intercept with the y-axis
the correlation coefficient, the strength of the line
the score on the variable x.

________ 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

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

Grouped data can be classified into

four
three
two
five

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)

Find the author who said this “Statistics may be defined as the collection, organisation, presentation, analysis and interpretation of numerical data”

Croxton& Cowden
Karl Pearson
Spearman
Von Hayek

Sources of published and unpublished data are called

Primary
Tertiary
Secondary
None of these

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

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)

Econometrics is the amalgamation of

3 subjects
4 subjects
2 subjects
5 subjects

Participants in a weight-loss program are asked for the following biographical information upon entering the program: Which of these variables are quantitative?
i) weight
ii) gender
iii) age

i)
ii)
iii)
i) and iii)

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

Hicks
Friedman
Galton
Spearman

R 2 is the notation for:

the coefficient of correlation.
the coefficient of determination.
the coefficient of variation.
the coefficient of regression

If the points on the scatter diagram indicate that as one variable increases the other variable tends to decrease the value of r will be:

Perfect positive
Perfect negative
Negative
Zero

Find the incorrect match.
I. Σdxdy = Sum of product of the deviations x and y series from their assumed means.
II. Σdx2 = Sum of the squares of the deviations of x series from an assumed mean
III. Σdy2= sum of the deviation of x series from an assumed mean of x
IV. Σdx= Sum of the squares of the deviations of y series from an assumed mean

I, II, III, IV are correct
I, II, III are correct, IV is incorrect
II and IV are incorrect, I and III are correct
III and IV are only incorrect

Higher Standard Deviation indicates, that

the scores are more consistent
the scores are scattered more
the scores are scattered less
the scores are homogeneous

The Latin word 'status' represents

Logic
Science
Economics
Statistics

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)

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