What is the Arithmetic Mean, and what is its primary objective?

The Arithmetic Mean is the value that appears most frequently in a series, and its primary objective is to simplify data representation.

The Arithmetic Mean is calculated by adding up all values in a series and dividing by the total number of items, aiming to facilitate comparisons between data sets.

The Arithmetic Mean is a positional value that separates the data into two equal parts, and its main goal is to create quartiles.

The Arithmetic Mean is a measure of central tendency that requires data to be arranged in ascending order, and its primary objective is to provide a concise representation of data.

What is a demerit of using the Arithmetic Mean?

It takes into account all values within the data set.

It can be influenced by extreme values in the data.

It is a reliable basis for comparing two or more groups of data.

What is the Median, and what is a situation where it is the most suitable average?

The Median is the value that appears most frequently in a series, and it is the most suitable average for quantitative data.

The Median is a measure of central tendency that is less likely to be influenced by extreme observations, making it suitable for any type of data.

The Median is the value that separates the data into two equal parts, and it is the most suitable average for open-ended classes.

The Median is the mean of weighted items in a series, and it is the most suitable average for qualitative measurements.

What is a demerit of using the Median?

It is a positional value, not a computed value.

It is less likely to be influenced by extreme observations.

It cannot be precisely calculated if the series has an even number of items.

It is simple to comprehend and calculate.

In which type of series is the Quartile most appropriate as an average?

In a series with an even number of items.

In a series with an odd number of items.

In a series with open-ended classes.

What is a demerit of using the Mode?

It is less affected by marginal values.

It requires all items in the series to be known for computation.

It is capable of algebraic treatment.

What is the Mode, and what is one of its merits?

The Mode is the value that separates the data into two equal parts, and one of its merits is that it is simple to calculate.

The Mode is the mean of weighted items in a series, and one of its merits is that it can be graphically located using a histogram.

The Mode is the value that appears most frequently in a series, and one of its merits is that it is an uncertain measure.

The Mode is a measure of central tendency that is less affected by extreme values, and one of its merits is that it requires knowledge of all items in the series.

What is the primary objective of calculating Percentiles?

To divide the data into four equal parts.

To divide the data into 100 equal parts.

To determine the Mode of the data.

To calculate the Weighted Arithmetic Mean.

What is a Quartile, and how is it calculated for an individual and discrete series?

A Quartile is the value that separates the data into four equal parts, and it is calculated using the formula for Weighted Arithmetic Mean.

A Quartile is the value that appears most frequently in a series, and it is calculated by arranging the data in ascending order.

A Quartile is one of the three points that divide the data into four equal parts, and for individual and discrete series, it is calculated differently.

A Quartile is a measure of central tendency based on all observations in the series.

Statistics Free MCQ Practice Test with Solutions

	Statistics for Economics - Class XI 51 videos\|41 docs\|12 tests

	Statistics for Economics - Class XI 51 videos\|41 docs\|12 tests

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