FBQ1: ______ Situations may arise when the values of two variables deviate in the same direction Answer: *Positive correlation* FBQ2: ____________ Correlation is said to be negative or inverse if the variables deviate in the opposite direction Answer: *Negative* FBQ3: _____________ describes a situation where for a unit change in one variable there is a constant corresponding change in the other variable over the entire range of values. Answer: *Linear Correlation* FBQ4: ______________ describes situations if corresponding to a unit change one variable; the other variable does not change at a constant rate but at a fluctuating rate Answer: *Non-linear correlation* FBQ5: _____________ is the situation when the phenomena under study inter-influence each other. Such instances are usually observed in data relating to economic and business situations. Answer: *Mutual dependence* FBQ6: Karl Pearson was a British Biometrician and statistician suggested a mathematical method for measuring the magnitude of linear relationship between two _____ Answer: *Variables* FBQ7: A British Psychologist _______ developed a formula in 1904 which can be used to obtain the correlation coefficient between the ranks of n individuals in the two variables or attributes being study Answer: *Charles Edward Spearman* FBQ8: Spearman's correlation coefficient measures correlation when the data is ______________ Answer: *non-parametric* FBQ9: _______________ formula can be used even when dealing with variables which are measured quantitatively Answer: *Spearman‘s rank correlation* FBQ10: Spearman's correlation coefficient approximates Pearson's correlation when the sample size is _____________ Answer: *Large* FBQ11: ______________, in general sense, means the estimation or prediction of the unknown value of one variable from the known value of the other variable Answer: *Regression analysis* FBQ12: Prediction or ______________ is one of the major problems in almost all the spheres of human activity Answer: *Estimation* FBQ13: ___ is a mathematical measure of the average relationship between two or more variables in terms of the original units of the data Answer: *Regression analysis* FBQ14: ______________ is a type of regression in which more than two variables are studied Answer: *Simple Regression* FBQ15: _____ is the variable whose value is influenced or is to be predicted Answer: *Dependent Variable* FBQ16: _______ is the variable which influences the value of the dependent variable or which is used for prediction Answer: *Independent Variable* FBQ17: In regression analysis, the dependent variable is also known as ________ Answer: *Regressand* FBQ18: _______ variable is also known as the regressor Answer: *Independent* FBQ19: ____ is the line which gives the best estimate of one variable for any given value of the other variable Answer: *Line regression* FBQ20: The term best fit is interpreted in accordance with the principle of least squares which involves minimising the sum of the squares of the residuals or the ____ of the estimates Answer: *Errors* FBQ21: A line of best fit can be roughly determined using an eyeball method by drawing a straight line on a scatter plot so that the number of points above the line and below the line is about_______ Answer: *Equal* FBQ22: A more accurate way of finding the line of best fit is the ______ method Answer: *least square* FBQ23: _____________ predict a single number in each forecast period Answer: *point forecast* FBQ24: R2 in regression analysis means ______ Answer: *Coefficient of multiple determination* FBQ25: ______ states that given a sufficiently large sample size from a population with a finite level of variance, the mean of all samples from the same population will be approximately equal to the mean of the population Answer: *Central limit theorem* FBQ26: If a random sample of N cases is drawn from a population with a mean µ and standard deviation s, then the sampling distribution of the mean has a mean _______________ to the population mean µx Answer: *Equal* FBQ27: Lyapunov Central Limit Theorem is named after Russian mathematician ______ Answer: *Aleksandr Lyapunov* FBQ28: ___ Proofs that the used characteristic functions can be extended to cases where each individual X1, ..., Xn is an independent and identically distributed random vector in Rk Answer: *Multidimensional Central Limit Theorem* FBQ29: A useful generalization of a sequence of independent identically distributed random variables is a mixing random process in discrete time; "mixing" means, roughly, that random variables temporally far apart from one another are nearly ________ Answer: *Independent* FBQ30: The ___________________ applies in particular to sums of independent and identically distributed discrete random variables Answer: *central limit theorem* FBQ31: The ______ gives only an asymptotic distribution Answer: *central limit theorem* FBQ32: The law of large numbers says that the sample mean of a random sample converges in probability to the mean μ of the individual random variables, if the _____ exists Answer: *Variance* FBQ33: In probability theory, the law of large numbers is a theorem that describes the result of performing the same experiment in a large number of ____ Answer: *Times* FBQ34: The logarithm of a product is simply the sum of the logarithms of the ________________ Answer: *Factors* FBQ35: Index number may be classified in terms of the variables they _______ Answer: *Measure* FBQ36: ____________numbers study changes in price level of commodities over a period of time Answer: *price index* FBQ37: _____ depict changes in the general price level of the economy Answer: *Wholesale price index number* FBQ38: _______________ number reflect changes in the retail prices of different commodities Answer: *Retail Price Index* FBQ39: ____ number reflect changes in the volume of goods produced or consumed Answer: *Quantity Index* FBQ40: ____________ number study changes in the total value (price X quantity) e.g index number of profit or sales Answer: *Value Index* FBQ41: ____ is the aggregate of prices of all the selected commodities in the current year as a percentage of the aggregate of prices in the base year. Answer: *Simple (unweight) Aggregate Method* FBQ42: In ______ appropriate weights are assigned to various commodities to reflect their relative importance in the group Answer: *Weighted Aggregate Method* FBQ43: Laspeyre’s Price Index or Base year method means taking the base year quantity as _____ Answer: *Weights* FBQ44: Paasche’s Price Index, the current year quantities are taken as ______ Answer: *Weights* FBQ45: ___ Index is given by the arithmetic mean of Laspeyre‘s and Paasche‘s price index numbers Answer: *Dorbish-Bowley Price* FBQ46: ____________ advocated the geometric cross of Laspeyre‘s and Paasche‘s Price index numbers Answer: *Irving Fisher* FBQ47: _____________ is termed as an ideal index since it satisfies time reversal and factor reversal test for the consistency of index numbers Answer: *Fisher‘s Index* FBQ48: _______________ is a branch of mathematics that deals with the collection, organization, and analysis of numerical data and with such problems as experiment design and decision making Answer: *Statistics* FBQ49: _____ are data collected directly from the field of enquiries by the user(s) or researcher(s) themselves Answer: *Primary data* FBQ50: _____ are data which have been collected by someone else or some organization either in published or unpublished forms Answer: *Secondary Data* Multiple Choice Questions (MCQs): MCQ1: A Bernoulli process is a finite or infinite sequence of ____ random variable Answer: Binary MCQ2: Bernoulli process can also be generalized to more than ______ outcomes Answer: One MCQ3: The negative Binomial variables may be interpreted as random waiting ______ Answer: Moment MCQ4: The ______ process can be formalized in the language of probability spaces as a random sequence of independent realisations of a random variable that can take values of heads or tails Answer: Statistical MCQ5: The Bernoulli distribution was named after Swiss scientist _______ Answer: Adam Smith MCQ6: A classical example of a Bernoulli experiment is a single toss of a _____ Answer: Card MCQ7: The maximum likelihood estimator based on a random sample is the ________ Answer: sample mean MCQ8: The normal distribution was first discovered by English Mathematician De-voire in ____ Answer: 1729 MCQ9: The graph of normal distribution is called ______ Answer: Normal curve MCQ10: Using normal tables, find the values of probabilities P(z < 0.50) Answer: 0.6915 MCQ11: Using normal tables, find the values of probabilities P(z < -2.50) Answer: 0.0081 MCQ12: Using normal tables, find the values of probabilities P(-1.50 < z < 2.50) Answer: 0.8211 MCQ13: Using normal tables, find the values of probabilities P(1.62 < z < 2.20) Answer: 0.0871 MCQ14: Poisson distribution was derived in _______ Answer: 1837 MCQ15: Poisson distribution was derived by a French mathematician ______ Answer: Simeon D. Poisson MCQ16: The condition under which Poisson distribution is obtained is in a limiting case of _______ Answer: Binomial Distribution MCQ17: A statistical _______ is a method of making decisions using data from a scientific study Answer: Data MCQ18: In statistics, a result is interpreted as being statistically significant if it has been predicted as unlikely to have occurred by ____ alone according to a pre-determined threshold probability, the significance level. Answer: Chance MCQ19: The phrase "test of significance" was coined by statistician _______ Answer: Dein Fisher MCQ20: The critical region of a hypothesis test is the set of all outcomes which cause the null hypothesis to be rejected in favour of the _____ hypothesis Answer: Second MCQ21: Statistical hypothesis testing is sometimes called _________ Answer: True testing MCQ22: ________ testing is a key technique of frequentist inference. Answer: Z MCQ23: Statistics are helpful in analysing most collections of _____ Answer: Test MCQ24: Common test Statistics are; t-test, z-test, chi-square test and f-test which is sometimes referred to as analysis of _______ Answer: variance (ANOVA) test MCQ25: If the population variance is unknown then for the large samples, its estimates provided by sample variance S2 is used and ______ is applied Answer: Figures MCQ26: F-distribution has a number of applications in the field of ______ Answer: Statistics MCQ27: _______ test is use to test for equality of population variances Answer: T MCQ28: The square of a standard normal variable is called a _______ variate with 1 degree of freedom Answer: F test MCQ29: chi-square test of ______ is used to determine how well theoretical distributions such as the normal and binomial distributions Answer: Sample MCQ30: Chi square for ______ consider a given population consisting of N items divided into r mutually disjoint (exclusive) and exhaustive classes Answer: independence of attributes MCQ31: For the contingency table data, the ______ hypothesis is always set up that the attributes under consideration are independent Answer: Alternative MCQ32: The term Analysis of Variance was introduced by ________ Answer: Dr Ganiyat Uthman MCQ33: The term Analysis of Variance was developed in ______ Answer: 1922 MCQ34: The total variation in any set of numerical data is due to a number of causes which may be classified as assignable causes and _____ Answer: Variable causes MCQ35: _____ test is based on the test statistic F or variance ratio Answer: Z test MCQ36: ________ as a tool has different dimensions and complexities Answer: ANOVA MCQ37: _______ technique enables us to compare several population means simultaneously and thus results in lot of saving in terms of time and money Answer: T MCQ38: The origin of the ________ technique lies in agricultural experiments and as such its language is loaded with such terms as treatments, blocks, plots Answer: Regression MCQ39: ______ is not designed to test equality of several population variances. Answer: T test MCQ40: In statistics, the term non-parametric statistics refers to statistics that do not assume the data or ______ have any characteristic structure or parameters Answer: Calculation MCQ41: non-parametric statistics are suitable for examining the order in which runners complete a race, while ______ statistics would be more appropriate for looking at the actual race times Answer: Distribution MCQ42: ____ methods are widely used for studying populations that take on a ranked order Answer: Non-parametric MCQ43: ______ models differ from parametric models in that the model structure is not specified a priori but is instead determined from data Answer: Regression MCQ44: ________ is a non-parametric test alternative to the one-way analysis of variance Answer: T test MCQ45: ________ provides an estimate of the relationship between two measurements, without any assumption of whether one comes before the other Answer: T test MCQ46: Correlation coefficients have a value between -1 and _______ Answer: +2 MCQ47: A positive ______ means that x and y values increases and decrease in the same direction Answer: F test MCQ48: A negative ______ means that as x and y move in opposite directions, one increases as the other decreases Answer: Correlation MCQ49: Coefficient of 0 means x and y are associated ________ Answer: Positively MCQ50: The _____ measures only the degree of linear association between two variables Answer: Regression model