Midterm Answer

Yangon University of Economics
Department of Commerce
Executive Master of Banking Programme
Midterm Test, March 2024
EMBF (10th Batch) MBF 121

Answer all questions. Business Statistics
Time allowed: (1) hour
I. Choose the best answer for each of the following questions:
1. The student's weight is a (an) ... variable.
A) discrete B) ordinal C) nominal D) continuous.
2. In order to get a sample of 40 students, a researcher divided the students population into 40
groups and then selected the fourth student from each group after numbering them randomly. The
type of sampling is ...
A) random. B) stratified. C) systematic. D) cluster.
3.Which is a part of the five-number summary?
A) The mode. B) The mean. C) The median. D) The midrange.
4.Use the following to answer questions (i) and (ii): The coefficient of variation of the height of
20 people selected at random from a given city is found to be 15%. The weight of the selected
group has a mean value 72 kg and a standard deviation 8 kg.
(i)The coefficient of variation for the weight of the selected group is ...
A) 11.11 B) 8.33% C) 11.11% D) 8.33 7.
(ii) The obtained results show that ...
A) the weight is more variable than height. B) the weight is less variable than height.
C) height and weight have the same degree of variation. D) height and weight are
independent.
5. Use the following to answer questions (i) , (ii), and (iii): For a class limit 69.4 - 70.5 answer
the following three questions:
(i)The class boundaries are ...
A) 69.35 - 70.55 B) 69.9 - 70 C) 69.45 - 70.45 D) 68.9 – 71.15.
1
(iii) The class width ...
A) is 1.2 B) is 1.1 C) is 1.3 D) cannot be calculated
(ii) The class midpoint is ...

A) 69.5 B) 69.45 C) 69.95 D) 69.7
6.The demand for a product on each of 20 days was as follows, (in units). 3, 12, 7, 17, 3, 14, 9, 6,
11, 10, 1, 4, 19, 7, 15, 6, 9, 12, 12, 8. Calculate arithmetic mean.
The arithmetic mean of the demand for the product over the 20 days is 9.25 units.
7. Find median of the following values: (i) 8, 6, 9, 12, 15, 6, 3, 20, 11.
(ii) 8, 6, 7, 2, 1, 11, 3, 2, 5, 2.
(i) The median of the first set of values (i) is 9.
(ii) The median of the second set of values (ii) is 4.
II. In the following multiple-choice questions, select the best answer.

1. The correlation coefficient is used to determine:
a. A specific value of the y-variable given a specific value of the x-variable
b. A specific value of the x-variable given a specific value of the y-variable
c. The strength of the relationship between the x and y variables
d. None of these
2. If there is a very strong correlation between two variables then the correlation coefficient must
be
a. any value larger than 1
b. much smaller than 0, if the correlation is negative
c. much larger than 0, regardless of whether the correlation is negative or positive
d. None of these alternatives is correct
3. In regression, the equation that describes how the response variable (y) is related to the
explanatory variable (x) is:
a. the correlation model
b. the regression model
c. used to compute the correlation coefficient
d. None of these alternatives is correct.
4. The relationship between number of beers consumed (x) and blood alcohol content (y) was
studied in 16 male college students by using least squares regression. The following regression
equation was obtained from this study:
^y = -0.0127 + 0.0180x
2
The above equation implies that:
a. each beer consumed increases blood alcohol by 1.27%
b. on average it takes 1.8 beers to increase blood alcohol content by 1%
c. each beer consumed increases blood alcohol by an average of amount of 1.8%
d. each beer consumed increases blood alcohol by exactly 0.018
5.In regression analysis, the variable that is being predicted is the

a. response, or dependent, variable
b. independent variable
c. intervening variable
d. is usually x
6. The coefficient of correlation

a. is the square of the coefficient of determination
b. is the square root of the coefficient of determination
c. is the same as r-square
d. can never be negative
7. A regression analysis between sales (in $1000) and price (in dollars) resulted in the following
equation: ^y = 50,000 - 8X
The above equation implies that an
a. increase of $1 in price is associated with a decrease of $8 in sales
b. increase of $8 in price is associated with an increase of $8,000 in sales
c. increase of $1 in price is associated with a decrease of $42,000 in sales
d. increase of $1 in price is associated with a decrease of $8000 in sale
8. If the coefficient of determination is equal to 1, then the correlation coefficient

a. must also be equal to 1
b. can be either -1 or +1
c. can be any value between -1 to +1
d. must be -1
9. If the correlation coefficient is 0.8, the percentage of variation in the response variable
explained by the variation in the explanatory variable is
a. 0.80%
b. 80%
c. 0.64%
d. 64%
10. If the correlation coefficient is a positive value, then the slope of the regression line
a. must also be positive
b. can be either negative or positive
c. can be zero
d. cannot be zero
3
11. Regression analysis was applied to return rates of sparrowhawk colonies. Regression analysis
was used to study the relationship between return rate (x: % of birds that return to the colony in a
given year and immigration rate (y: % of new adults that join the colony per year). The following
regression equation was obtained.
^y = 31.9 – 0.34x Based on the above estimated regression equation, if the return rate were to
decrease by 10% the rate of immigration to the colony would:
a. increase by 34% b. increase by 3.4% c. decrease by 0.34% d. decrease by 3.4.
12. Set out the advantages and disadvantages of the mean, median and mode as measure of
central tendency.
………………………………………….
Solution
Mean ( Arithmetic Mean):
Advantages:
 It is very useful for working with quantitative data because it takes into account all the
numbers in the dataset.
 Used by many people and understood.
 It can be used for more statistical research.
Disadvantages:
 Extreme numbers or "outliers" can change it.

 Not always true to the information, especially when the distributions are skewed.
 Not useful for nominal numbers.
Median:
4
Advantages:
 Extreme numbers or outliers don't change the results.

 Can show the dataset more correctly when the distributions are skewed.
 It can be used with numeric data, interval data, and ratio data.
Disadvantages:
 Could not show all parts of the spread.
 Compared to the mean, it is not as good for further mathematical calculations.
 For big datasets or datasets with complex numbers, it may be harder to figure out than the
mean.
Mode
Advantages:
 Shows the number that appears most often in the dataset.
 It can be used with numeric data as well as ordinal, interval, and ratio data.
 It can help you find the most common or well-liked thing, preference, or category in a set
of data.
Disadvantages:
 If there are more than two modes (bimodal or multimodal distributions), it might not give
a clear picture of the information.
 For some datasets, it might not exist (there are no repeating numbers).
 Compared to mean and median for quantitative data, it tells you less about the central
trend of the distribution.
We can use any of these measures of central tendency, and which one to use depends on the type
of data you have and the needs of your study.

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Yangon University of Economics

EMBF (10th Batch) MBF 121

(ii) The class midpoint is ...

II. In the following multiple-choice questions, select the best answer.

5.In regression analysis, the variable that is being predicted is the

6. The coefficient of correlation

8. If the coefficient of determination is equal to 1, then the correlation coefficient

Mean ( Arithmetic Mean):

 Extreme numbers or "outliers" can change it.

 Extreme numbers or outliers don't change the results.

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