Quantitative Analysis for Business (C723) Exam
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1. Which of the following is a measure of central tendency?
A) Variance
B) Mean
C) Standard deviation
D) Range
The mean is the average value and a measure of central tendency,
while variance, standard deviation, and range measure dispersion.
2. The median is best described as:
A) The most frequent value
B) The middle value when data are ordered
C) The average of all values
D) The difference between maximum and minimum
The median divides a data set into two equal halves.
3. If a data set has an even number of observations, the median is:
A) The middle value
B) The first value
C) The average of the two middle values
D) The maximum value
When the number of observations is even, the median is calculated
by averaging the two middle numbers.
4. Variance is:
A) The square root of the standard deviation
B) The average of squared deviations from the mean
C) The difference between the largest and smallest values
D) The mean
Variance measures how far each data point is from the mean.
,5. Which measure is least affected by outliers?
A) Mean
B) Range
C) Median
D) Standard deviation
The median is robust because it depends only on the order of values,
not their magnitude.
6. The probability of an event is always:
A) Negative
B) Between 0 and 1
C) Greater than 1
D) Equal to the odds
Probabilities are always expressed as a value between 0 (impossible)
and 1 (certain).
7. If two events are mutually exclusive, the probability that both
occur is:
A) 1
B) 0.5
C) 0
D) 0
Mutually exclusive events cannot occur simultaneously.
8. Conditional probability measures:
A) Probability of either event occurring
B) Probability of no event occurring
C) Probability of one event given another has occurred
D) Probability of independent events
Conditional probability calculates the likelihood of an event under a
given condition.
9. In a normal distribution, approximately what percentage of data
lies within one standard deviation of the mean?
, A) 50%
B) 68%
C) 68%
D) 95%
The empirical rule states 68% of observations lie within ±1 standard
deviation of the mean.
10. Which of the following is a continuous random variable?
A) Number of defective items
B) Number of customers
C) Height of students
D) Number of machines
Height can take any value within a range, making it continuous.
11. A probability distribution must satisfy:
A) All probabilities negative
B) All probabilities between 0 and 1, sum equals 1
C) Probabilities greater than 1
D) Only integer probabilities
The total probability must equal 1 and each probability must be valid.
12. The expected value of a discrete random variable is:
A) Its mode
B) Its median
C) The probability
D) A weighted average of all possible outcomes
Expected value represents the mean outcome considering
probabilities.
13. In a binomial distribution, the variance is:
A) np
B) p(1-p)
C) np(1-p)
D) √(np)
Newest With Complete Questions And Correct
Detailed Answers| Brand New Version
1. Which of the following is a measure of central tendency?
A) Variance
B) Mean
C) Standard deviation
D) Range
The mean is the average value and a measure of central tendency,
while variance, standard deviation, and range measure dispersion.
2. The median is best described as:
A) The most frequent value
B) The middle value when data are ordered
C) The average of all values
D) The difference between maximum and minimum
The median divides a data set into two equal halves.
3. If a data set has an even number of observations, the median is:
A) The middle value
B) The first value
C) The average of the two middle values
D) The maximum value
When the number of observations is even, the median is calculated
by averaging the two middle numbers.
4. Variance is:
A) The square root of the standard deviation
B) The average of squared deviations from the mean
C) The difference between the largest and smallest values
D) The mean
Variance measures how far each data point is from the mean.
,5. Which measure is least affected by outliers?
A) Mean
B) Range
C) Median
D) Standard deviation
The median is robust because it depends only on the order of values,
not their magnitude.
6. The probability of an event is always:
A) Negative
B) Between 0 and 1
C) Greater than 1
D) Equal to the odds
Probabilities are always expressed as a value between 0 (impossible)
and 1 (certain).
7. If two events are mutually exclusive, the probability that both
occur is:
A) 1
B) 0.5
C) 0
D) 0
Mutually exclusive events cannot occur simultaneously.
8. Conditional probability measures:
A) Probability of either event occurring
B) Probability of no event occurring
C) Probability of one event given another has occurred
D) Probability of independent events
Conditional probability calculates the likelihood of an event under a
given condition.
9. In a normal distribution, approximately what percentage of data
lies within one standard deviation of the mean?
, A) 50%
B) 68%
C) 68%
D) 95%
The empirical rule states 68% of observations lie within ±1 standard
deviation of the mean.
10. Which of the following is a continuous random variable?
A) Number of defective items
B) Number of customers
C) Height of students
D) Number of machines
Height can take any value within a range, making it continuous.
11. A probability distribution must satisfy:
A) All probabilities negative
B) All probabilities between 0 and 1, sum equals 1
C) Probabilities greater than 1
D) Only integer probabilities
The total probability must equal 1 and each probability must be valid.
12. The expected value of a discrete random variable is:
A) Its mode
B) Its median
C) The probability
D) A weighted average of all possible outcomes
Expected value represents the mean outcome considering
probabilities.
13. In a binomial distribution, the variance is:
A) np
B) p(1-p)
C) np(1-p)
D) √(np)
