uestion 1 QUIZ 2 ( 70-S) Business Stats
Identify a business-related activity which involves experimental method of data collection
a. Test market
b. Market observation
c. Interview of customers
d. Sales data collection
Question 2
Which statement is false?
a. Tabulation can be classified as special. In this type classification,the data are classified according
to place. This includes town, district, state and country.
b. A financial audit report is an example of textual method of presenting data.
c. Line Graph can be used to display changes in sales from 2011-2016.- (my answer)
d. 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.
Question 3
Census of population is an example of
a. Observation Method
b. Registration Method
c. Questionnaire Method
d. Experimental Method
Question 4
Find the margin of error used if sample size computed is 50 at and population is 100.
a. none of these
b. 0.01
c. 0.05
d. 0.1
Question 5
Compute for the sample size, given the following data: Population = 1000, margin of error 10%.
a. 100
b. 199
c. 91
d. 99
Question 6
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. 500,000
c. 100,000
d. 10,000
Question 7
Which statement is false?
Select one:
a. Stratified Random Sampling can be used when the members of the population belong to the same
category, class or group.
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. Lottery Method is a form of simple random sampling.
Question 8
Identify the technique in which a researcher studies the social process as they happen in the field.
a. Observation Method
b. Questionnaire Method
c. Registration Method
d. Experimental Method
Question 9
Which method is the most time consuming?
a. Questionnaire Method
b. Registration Method
c. Interview Method
Question 10
Find the population used if sample size computed is 90 at 10% margin of error
a. 569
b. none of these
c. 900
d. 999
QUIZ 1 (80-S) Business Stats
1) It is the process of extracting relevant information from presented data using
statistical methods and procedures
a. Analysis - CHEK b. Presentation
c. Collection d. Interpretation
2) This refers to the drawing of conclusion from the analyzed data
a. Collection b. Presentation
c. Interpretation - CHEK d. Analysis
3) 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
a. Financial Management b. Marketing Research –CHEK
c. Quality Control d. Cost Management
4) 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.
a.Marketing b.Quality Control
c. Financial Planning - CHEK d.Personnel Management
5) 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.
a.Financial Statistics b.Vital Statistics
c. Business Statistics - MAYBE d. Economic Statistics
6) Which of the following statements best describes descriptive statistics
a. The financial manager analyzed the sales from January to October, he then made a sales
forecasts for the months of November and December.
b. 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.
c. A researcher made a survey study about the demand of a certain product. Later on, he
concluded that the demand is inelastic. – MAYBE
d. 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.
7) Which statement is false?
a. Primary data can be obtained from sources such as personal interviews, questionnaires,
books, observation and experimentation results – MAYBE
b. Dependent variable is a variable that is affected or influenced by another variable. -TRUE
c. Categorical data may pertain to civil status, address and brand names.- MAYBE
d. A parameter is the numerical characteristic of the population -TRUE
8) Identify the area where statistics is being described: Statistics is applied in
performance appraisal of employees.
a.Quality Control b. Financial Planning
c. Personnel Management -CHEK d. Marketing
9) Which statement is false?
a. Karl Pearson is the one who developed the chi-square test. His son was Egon Pearson. -
MAYBE
b. John Graunt is a demographer who published the book “Natural and Political Observations
made upon the Bills of Morality”. –TRUE
c. Statistics is a scientific body of knowledge that deals with the collection, organization,
presentation, analysis and interpretation of data. - TRUE
d. Fisher developed the Analysis of Variance. –MAYBE
10) Which is not included in the group
a. Suppression of unfavorable results b. Defective or inaccurate data used
c. Adequate sample – CHEK d. Arithmetical Mistakes
