Q. The average to be used to determine the average size of the shoe sold in a shop is:
✅ Correct Answer: (C)
Mode
Business Statistics MCQs and Notes
Q. From which average, the sum of deviations is zero?
✅ Correct Answer: (A)
Mean
Q. The variate values which divide a series into ten equal parts are called:
✅ Correct Answer: (B)
Deciles
Q. For a symmetrical distribution, Q1 and Q3 are 20 and 60 respectively. The value of median will be:
✅ Correct Answer: (C)
40
Q. In a moderately skewed distribution, the following equation indicates the relationship among mean, median and mode:
✅ Correct Answer: (B)
Mode = 3 Median – 2 Mean
Q. In a moderately skewed distribution, the value of mean is 16 and that of mode is 25.
✅ Correct Answer: (B)
19
Q. What is the median of 33, 86, 68, 32, 80, 48, 70?
✅ Correct Answer: (B)
68
Explanation: To find the median of a set of numbers, you first need to order the numbers in ascending or descending order.
{32, 33, 48, 68, 70, 80, 86}
The median is the middle value when a data set has an odd number of observations.
The middle value of 7 numbers is the 4th one, which is 68.
So, the median of this set is 68.
Q. The sum of squared deviations is minimum when taken from:
✅ Correct Answer: (A)
Mean
Q. The sum of absolute deviations is minimum when taken from:
✅ Correct Answer: (B)
Median
Q. The sum of deviations of observations from their arithmetic mean:
✅ Correct Answer: (C)
Zero