Business Statistics MCQs

Business Statistics MCQs

The following Business Statistics MCQs have been compiled by our experts through research, in order to test your knowledge of the subject of Business Statistics. We encourage you to answer these 90+multiple-choice questions to assess your proficiency.
Please continue by scrolling down.

1: As Variable X changes, Variable Y changes but in only one direction. This is an example of a ______________ relationship.

A.   Positive

B.   Linear

C.   Curvilinear

D.   Negative


This question is based upon the figure shown below

Which of the above conventions is used to represent the population mean?









3: The level of significance in ANOVA refers to the chance that you will ______________.

A.   Modify the null hypothesis

B.   Reject the alternative hypothesis by mistake

C.   Accept the null hypothesis by mistake

D.   Reject the null hypothesis by mistake

4: Correlation analysis assumes that Variable X and Variable Y are:

A.   Correlated

B.   Curvilinear

C.   On a spectrum

D.   Independent

5: The alternative hypothesis states that the difference in the means of the treatment and control groups is ______________.

A.   Not equal to zero

B.   Not equal to the mean

C.   Not equal to the variance

D.   Not equal to the standard deviation

6: Costco is preparing to give out surveys to all its weekend shoppers as part of its new promotional campaign. This is an example of a ______________ study.

A.   Qualitative

B.   Computerized

C.   Quantitative

D.   Descriptive

7: Which of the following is not a data collection method?

A.   Designed Experiments

B.   Observational Studies

C.   Surveys

D.   Managers' experience

8: Correlational analysis is concerned with the ______________ and ______________ of the relationship between two variables.

A.   Null; void

B.   Cause; effect

C.   Nature; strength

D.   Slope; intercept

9: What are the main sources of stress during your workday? is an example of a(an) ______________ question.

A.   Open-ended

B.   Close-ended

C.   Hypothesis

D.   Leading

10: Conducting a focus group is an example of ______________ research design.

A.   Quantitative

B.   Experimental

C.   Qualitative

D.   Hypothetical

11: ______________ research design is usually used when little information is available about the object of study.

A.   Longitudinal

B.   Exploratory

C.   Long-term

D.   Descriptive

12: A correlation coefficient of weight and cholesterol (HDL) is deemed to be negative. As weight increases, HDL levels

A.   Remain the same

B.   Decrease

C.   Increase

D.   Double in value


This question is based upon the figure shown below

In the above table, the probability of choosing a Male that Own a Wii out of the entire sample is:









14: A stem-and-leaf display is a way to organize ______________ data into chunks?

A.   Ordinal

B.   Nominal

C.   Numerical

D.   Interval

15: A marketing specialist is studying the effect of retirement on spending habits. Retirement, in this case, is the ______________ variable.

A.   Input

B.   Output

C.   Dependent

D.   Independent

16: A good ______________ translates a research question into a format that can be tested using statistical analysis

A.   Contingency table

B.   Testing group

C.   Sample

D.   Hypothesis

17: A scatter plot shows the relationship between Variable X and Variable Y ______________.

A.   In a graph format

B.   In a time-series format

C.   In a contingency table format

D.   In an Excel worksheet format

18: The difference between a ______________ and a ______________ is a very important concept in Business Statistics.

A.   Parameter, Sample

B.   Population, Sample

C.   Statistic, Population

D.   Population, Parameter

19: The null hypothesis states that the difference in the means of the treatment and control groups is ______________.

A.   Null

B.   Large

C.   Small

D.   Zero

20: A very large random error term (ei) indicates a ______________ relationship between the dependent variable and independent variable(s).

A.   Weak

B.   Strong

C.   Linear

D.   Predictable

21: When conducting business research, the first step in the process is to formulate a ______________.

A.   Research question

B.   Data analysis method

C.   Sampling method

D.   Study design

22: Numerical data or measure that describes a sample is ______________.

A.   Parameter

B.   Population

C.   Statistic

D.   Survey

23: A correlational study is likely to use ______________ research design.

A.   Survey

B.   Exploratory

C.   Causal

D.   Descriptive

24: A Type II error is the probability of ______________ the null hypothesis when it should be ______________.

A.   Rejecting; modified

B.   Rejecting; accepted

C.   Accepting; rejected

D.   Accepting; modified

25: Which of the following gives you information on the spread or scatter of your data?

A.   Measures of dispersion

B.   Measures of data range

C.   Dispersion

D.   Ratio and Interval

26: What produces a number that takes into account how far every data point differs from the mean calculated for the entire data set?

A.   Median

B.   Range

C.   Standard deviation

D.   Variance

27: There are ______________ coefficients that must be calculated in the simple linear regression equation

A.   3

B.   2

C.   4

D.   5

28: Which of the following sample items are chosen from a larger population without any regard for their probabilities or occurrences?

A.   Probability sampling

B.   Direct sampling

C.   Indirect sampling

D.   Non-probability sampling

29: The population that you are interested in studying is called a ______________.

A.   Target Population

B.   Set Population

C.   Sample Group

D.   Survey Group

30: One of the limitations of multiple regression is that it (is) ______________.

A.   Easy to administer

B.   Time-consuming

C.   Requires a small sample

D.   Contains a small error term


This question is based upon the figure shown below

In the above table, the probability of choosing a Female that does NOT own a Wii out of the entire sample is:









32: All of the following are advantages of the survey and questionnaires method of business research EXCEPT:

A.   Easy to administer

B.   Provides causative information

C.   Low cost

D.   Provides descriptive information

33: Gaining information from government archives and data repositories is an example of ______________ data.

A.   Primary

B.   Tertiary

C.   Survey

D.   Secondary


This question is based upon the figure shown below

The mean of the above sample is ______________.









35: ______________ regions are regions that are necessary to make business decisions on a data curve.

A.   Contingency

B.   Critical

C.   Null

D.   Alternative

36: A ______________ presents data from two sets of observations or variables.

A.   Contingency table

B.   Side-by-side bar chart

C.   Scatter plot

D.   Pie chart

37: In the simple linear regression model, the intercept is the ______________.

A.   Crossing of the line at the X-axis

B.   Crossing of the line at the Y-axis

C.   Slope of the trend line

D.   Slope of the regression line

38: Correlation analysis provides information about the relationship between two variables EXCEPT:

A.   Nature

B.   Cause

C.   Strength

D.   Direction

39: To study the effectiveness of a new car oil on engines, two sets of cars are split into ______________ and ______________ groups.

A.   Independent; dependent

B.   Dependent; independent

C.   Treatment; control

D.   Treatment; dependent

40: IBM and Apple are interested in opening stores in the same small Midwestern town. The companies pose ______________ to each other

A.   Strength

B.   Weakness

C.   Opportunity

D.   Threat

41: What is a list of common elements that allows you to access your population?

A.   A total sampling table

B.   A sampling frame

C.   A linear sampling table

D.   A cross sampling frame

42: Which of the following is NOT an example of central tendency?

A.   Median

B.   Mean

C.   Mode

D.   Total

43: Regression analysis is based on ______________ statistical tools.

A.   Rigorous

B.   General

C.   Simple

D.   Descriptive

44: Standard deviation is a measure of how well data points _________________ around a central value.

A.   Cluster

B.   Decrease

C.   Increase

D.   Scatter

45: Unlike linear regression analysis, multiple regression can conduct both linear and __________ analysis.

A.   Quantitative

B.   Correlational

C.   Predictive

D.   Non-linear

46: Which types of data are called Parametric data?

A.   Ordinal and Nominal

B.   Ratio and Nominal

C.   Interval and Rational

D.   Ratio and Interval

47: A researcher puts a placebo in a container and administers it to one of his groups. This is the _______ group.

A.   Control

B.   Treatment

C.   Before-and-after

D.   Descriptive

48: An up-slope in the trend line of a regression scatterplot means that the correlation between the two variables is ________.

A.   Sloping downwards

B.   Negative

C.   Sloping upwards

D.   Positive

49: Which of the following is not an example of Formal Research?

A.   A count of the number of cars that pass through a certain intersection every hour.

B.   A survey about a group of customer's preferred cell phone application.

C.   A focus group on customers' preference for product packaging.

D.   A research study on the effectiveness of a new brand of household cleaner.

50: As more police officers patrol an intersection, accidents decrease in frequency. This is an example of a _________ correlation.

A.   Negative

B.   Positive

C.   Causal

D.   Growth