Business Statistics Answers
Taxable Income
Select one:
a. Qualitative
b. Quantitative
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Office Address
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a. Quantitative
b. Qualitative
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Employment Status
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a. Qualitative
b. Quantitative
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Age
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a. Quantitative
b. Qualitative
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Years of experience
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a. Quantitative
b. Qualitative
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Occupation
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a. Qualitative
b. Quantitative
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Gross Sales per day
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a. Quantitative
b. Qualitative
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Brand Name
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a. Quantitative
b. Qualitative
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Average Monthly Expense
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a. Qualitative
b. Quantitative
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Type of Business
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a. Quantitative
b. Qualitative
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A researcher interviewed a respondent through telephone.
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a. Primary
b. Secondary
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John has taken research data from a guest book.
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a. Primary
b. Secondary
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The manager observed the customers’ average queue time at the counter.
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a. Secondary
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b. Primary
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A researcher obtained data from an article published in a Business Journal.
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a. Primary
b. Secondary
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Mr P conducted a survey regarding the average annual income of people in their community. He
distributed a questionnaire and gathered it after respondents filled it out.
Select one:
a. Secondary
b. Primary
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Which is not included in the group
Select one:
a. Suppression of unfavorable results
b. Arithmetical Mistakes
c. Adequate sample
d. Defective or inaccurate data used
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Question 2
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Which of the following statements best describes descriptive statistics
Select one:
A researcher made a survey study about the demand of a certain product. Later on, he concluded
that the demand is inelastic.
The financial manager analyzed the sales from January to October, he then made a sales forecasts
for the months of November and December.
The auditor performed a statistical sampling of material company transactions to test audit
assertions. Later on, he inferred that the financial statements are fairly stated.
The financial manager took the total sales data of the company from January to December of
2016. After that, he computed for the average monthly sales.
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This is the science of good decision making in the face of uncertainty and is used in many disciplines
such as financial analysis, econometrics, auditing, production and operations including services
improvement, and marketing research.
Select one:
Vital Statistics
Financial Statistics
Business Statistics
Economic Statistics
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Identify the area where statistics is being applied: Business entities usually use statistical modeling
for predicting budgets and capital expenditures based on the past data of the entity and other
relevant variables considered.
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Financial Planning
Quality Control
Marketing
Personnel Management
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This exists to guide business decisions by providing insight about competitors, products and
customers. this statement describes the use of statistics in the field of
Select one:
a. Cost Management
b. Financial Management
c. Marketing Research
d. Quality Control
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It is the process of extracting relevant information from presented data using statistical methods and
procedures
Select one:
a. Analysis
b. Presentation
c. Interpretation
d. Collection
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Question 7
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This refers to the drawing of conclusion from the analyzed data
Select one:
a. Analysis
b. Presentation
c. Interpretation
d. Collection
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Identify the area where statistics is being described: Statistics is applied in performance appraisal of
employees.
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Quality Control
Financial Planning
Personnel Management
Marketing
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Question 9
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Which statement is false?
Select one:
a. Categorical data may pertain to civil status, address and brand names.
b. Primary data can be obtained from sources such as personal interviews, questionnaires, books,
observation and experimentation results
c. A parameter is the numerical characteristic of the population
d. Dependent variable is a variable that is affected or influenced by another variable.
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Which statement is false?
Select one:
a. John Graunt is a demographer who published the book “Natural and Political Observations made
upon the Bills of Morality”.
b. Fisher developed the Analysis of Variance.
c. Karl Pearson is the one who developed the chi-square test. His son was Egon Pearson.
d. Statistics is a scientific body of knowledge that deals with the collection, organization,
presentation, analysis and interpretation of data.
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There were 15000 products that were produced in a certain batch. You want to check the quality of
the products so you will be obtaining samples to represent the population. How many samples will
you get at 0.05 margin of error? (Round off your answer to the nearest whole number.)
Answer:
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Question 2
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The school canteen manager wants to obtain samples in his study on what type of food is best liked
by students. The following are the enrollment data of the school.
Grade 1 163
Grade 2 144
Grade 3 155
Grade 4 142
Grade 5 150
Grade 6 125
Find the sample size at 0.10 margin of error. (Round off your answer to the nearest whole number.)
Answer:
n = N/1+(N)(e)^2
Which method is the most time consuming?
Select one:
a. Questionnaire Method
b. Interview Method
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c. Registration Method
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Which statement is false?
Select one:
a. Bar Graph is a graph that uses horizontal or vertical bars to represent data. Bars provide a visual
display for comparing quantities in different categories or groups.
b. A financial audit report is an example of textual method of presenting data.
c. Tabulation can be classified as special. In this type classification,the data are classified according
to place. This includes town, district, state and country.
d. Line Graph can be used to display changes in sales from 2011-2016.
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If sample size is 5,000, when margin of error is 1%, what is the size of the population?
Select one:
a. 50,000
b. 10,000
c. 500,000
d. 100,000
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Census of population is an example of
Select one:
a. Observation Method
b. Questionnaire Method
c. Registration Method
d. Experimental Method
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Question 5
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Find the population used if sample size computed is 90 at 10% margin of error
Select one:
a. 569
b. 999
c. none of the above
d. 900
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Identify a business-related activity which involves experimental method of data collection
Select one:
a. Market observation
b. Sales data collection
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c. Interview of customers
d. Test market
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Find the margin of error used if sample size computed is 50 at and population is 100.
Select one:
a. none of these
b. 0.01
c. 0.1
d. 0.05
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Compute for the sample size, given the following data: Population = 1000, margin of error 10%.
Select one:
a. 100
b. 199
c. 99
d. 91
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Identify the technique in which a researcher studies the social process as they happen in the field.
Select one:
a. Observation Method
b. Questionnaire Method
c. Experimental Method
d. Registration Method
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Question 10
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Which statement is false?
Select one:
a. Lottery Method is a form of simple random sampling.
b. Quota sampling is similar to stratified random sampling. The only difference is that the selection of
sample using quota sampling is not done randomly.
c. In Systematic Sampling, sample units are obtained by drawing every nth element of a series
representing a population.
d. Stratified Random Sampling can be used when the members of the population belong to the
same category, class or group.
Identify the area where statistics is being described: Statistics provide useful information on how
much goods should be kept and how much can be possibly sold at a certain period of time.
Select one:
a. Marketing
b. Inventory Management
c. Quality Control
d. Financial Planning
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Analyze the situation given and tell whether the situation will make use of Descriptive or Inferential
Statistics: The manager computes the average income in a week.
Select one:
a. Inferential Statistics
b. Descriptive Statistics
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Which statement is false?
Select one:
a. Purposive Sampling is a process of picking out respondents in the most convenient and fastest
way
b. Cluster Sampling- this can be used when the population is large.
c. In accidental sampling, samples chosen are only those whom the researcher meets by chance.
d. Multi-Stage Sampling can be a combination of cluster sampling, stratified sampling and
systematic random sampling.
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A researcher was assigned to obtain respondents from a certain municipality, he was tasked to
determine the reaction of residents' of a certain municipality regarding the proposed increase in
monthly pension of retired people. He was told to have 200 female and 300 male respondents
between the age of 45 and 60. What is the sampling method used by the researcher?
Select one:
a. Cluster sampling
b. Quota sampling
c. Stratified Sampling
d. multi-stage sampling
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Identify the area where statistics is being described: Statistics is used in deciding whether to accept,
reject or rework a certain product.
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Select one:
a. Inventory Management
b. Financial Planning
c. Marketing
d. Quality Control
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Question 6
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Identify the technique where samples are chosen only when the researcher meets them by chance
Select one:
a. Chansing Sampling
b. convenience sampling
c. accidental sampling
d. incidental sampling
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Which of the following is not included in the group
Select one:
a. convenience sampling
b. simple random sampling
c. multi-stage sampling
d. cluster sampling
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Analyze the situation given and tell whether the situation will make use of Descriptive or Inferential
Statistics: The cashier gathers the receipts and totals the income every day.
Select one:
a. Descriptive Statistics
b. Inferential Statistics
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Tell whether Descriptive or Inferential Statistics: The production manager tests if the products are
okay by getting samples from the total products manufactured. Later on, he concluded that the
products are not okay and needs d to be repaired.
Select one:
a. Inferential Statistics
b. Descriptive Statistics
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Tell whether Descriptive or Inferential Statistics: The engineer calculates the average height of
buildings in a city.
Select one:
a. Descriptive Statistics
b. Inferential Statistics
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When you are dealing with a very large population such as the total residents of the Philippines,
which sampling technique can be best used?
Select one:
a. Cluster Sampling
b. Multi-stage Sampling
c. Stratified Sampling
d. Snow-ball Sampling
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Statement 1. Gosset formulated the t-test
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Statement 2.Egon Pearson was the one who formulated the Pearson chi-square test
Select one:
a. Both statements are wrong
b. Statement 1 is correct and Statement 2 is wrong
c. Both statements are correct
d. Statement 1 is wrong and Statement 2 is correct
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Which of the following is not included in the group
Select one:
a. snow-ball sampling
b. Systematic sampling
c. Stratified sampling
d. cluster sampling
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Question 14
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This is a statistic expressing the amount of random sampling error in a survey's results
Select one:
a. margin of confidence
b. margin of statistic
c. margin of error
d. margin of sampling
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Find the margin of error used if sample size computed is 90 at and population is 900.
Select one:
a. none of the above
b. 0.1
c. 0.09
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d. 0.01
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Question 16
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Which statement is false?
Select one:
a. The graphical method is considered as the most effective way of presenting data in because
important relationships are brought out more clearly and creatively.
b. The advantage of textual method of presenting data is that, it can give a more comprehensive
approach because of the expounded explanations.
c. Pie Chart is used to show all parts related to a whole. It is usually represented by a square divided
at various sizes, where each part represents a percentage.
d. The most important advantage of tabulation is that it organizes data for further statistical
treatment and decision making.
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Mr. P, a researcher of the National Internal Revenue, was tasked to make a research regarding
open tax cases of businesses from the 18 regions of the country. He selected 3 provinces on each
region. After that, he selected 3 municipalities from each province. From each of the municipalities,
he draws 10 registered businesses systematically from their list. What is the sampling method used
by Mr. P?
Select one:
a. Stratified Sampling
b. Cluster Sampling
c. Systematic Sampling
d. Multi-stage Sampling
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Question 18
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Using stratified random sampling, you need obtain 300 samples from a community consisting of
2,000 individuals belonging to different income brackets. 300 individuals belong to the high income
earners; 1200 are average income earners; and 500 are low-income earners. How many samples
will you obtain from the group of low-income earners?
Select one:
a. 75
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b. 45
c. 180
d. 100
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Question 19
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The main purpose of descriptive statistics is to:
Select one:
a. None of these
b. Determine if the data adequately represents the population
c. Summarize data in a useful and informative manner
d. Estimate a population characteristic based on a sample
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Question 20
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Which of the following is not included in the group?
Select one:
a. virtual method
b. tabular method
c. graphical method
d. textual method
