Business Analysis MCQs

Business Analysis MCQs

Our team has conducted extensive research to compile a set of Business Analysis MCQs. We encourage you to test your Business Analysis knowledge by answering these 50+ multiple-choice questions provided below.
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1: Which of the following is not a data collection method?

A.   Designed Experiments

B.   Observational Studies

C.   Surveys

D.   Managers' experience 

2: Gaining information from government archives and data repositories is an example of ______ data.

A.   Primary

B.   Tertiary

C.   Survey

D.   Secondary

3: The table consists of the daily sales made individually by 8 salesmen of a company for one week. Calculate the standard deviation of the sales made

A.   0.71

B.   0.51

C.   0.61

D.   0.73 

4: Calculate the compound interest compounded half yearly for 1 year on $10000 at an interest rate of 6% per annum.

A.   $509

B.   $590

C.   $609

D.   $690

5: To construct a scatterplot, you need at least __________ variables to plot.

A.   4

B.   2

C.   3

D.   1 

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: All of the following are things that must be considered in business research ethics EXCEPT

A.   Confidentiality/Anonymity

B.   Transparency

C.   Informed consent

D.   Researcher cost 

8: The table consists of the incentives achieved by the employees in an organization. Calculate the mode.

A.   90

B.   81

C.   30

D.   94 

9: Adam starts a business with an amount of $2000. After a few months, Brian joins Adam by investing $3000. If the profit is equally divided at the end of the year, after how much time had Brian joined the business?

A.   5 months

B.   4 months

C.   3 months

D.   6 months

10: 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. 

11: 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

12: Adam and Brian start a business by investing $50000 and $100000 respectively. They decide that they will divide the profit proportionate to their investment. If there is a profit of $18000, what is Brians share?

A.   $10000

B.   $11000

C.   $12000

D.   $14000 

13: Which out the following scatter diagrams is likely to represent a complex relationship between two variables?

A.   A

B.   B

C.   C

D.   D 

14: In an office comprising 200 people, 25% people are between the age of 20-25 years, 35% between the age of 25-30 years, 30% between the age of 30-35 years and 10% above the age of 35 years. Calculate the total number of people working in the office between the age of 20-30 years.

A.   135

B.   120

C.   165

D.   100 

15: 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 

16: George and Michael start a business by investing $15000 and $20000 respectively. Michael leaves the business after 5 months but does not take back his invested amount while leaving. Samuel joins the same business after 5 months by investing $10000. There is a profit of $4000 at the end of the year. What is Samuels share in the profit?

A.   $848.48

B.   $858.48

C.   $868.48



17: The compound interest earned over 5 years on a certain sum of money is $1000 at an interest rate of 20% per annum. How much interest would have been earned if simple interest had been charged instead of compound interest?

A.   $471.8

B.   $771.8

C.   $571.8

D.   $671.8 

18: Calculate the compound interest earned over a period of 6 months on $30000 at an interest rate of 20% per annum. The interest is compounded quarterly

A.   $3075.50

B.   $3207.50

C.   $3107.50

D.   $3007.50 

19: Calculate the median from the following table:

A.   90

B.   75

C.   29

D.   56

20: Many statistical calculations are based on _____________.

A.   Estimation

B.   Observations

C.   Evaluations

D.   Inference 

21: Nominal data uses numbers to indicate a _______________.

A.   Description

B.   Classification

C.   Set

D.   Result 

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

A.   Ordinal

B.   Nominal

C.   Numerical

D.   Interval

23: The EMI for a certain sum of money is $212.47. Calculate the loan amount if the rate of interest is 10% for a period of 5 years.

A.   $5000

B.   $10000

C.   $15000

D.   $20000 

24: The following is a group of problems occurring in an office which has been analyzed by the office in-charge. If the in-charge does the pareto analysis, what is the percentage of problems which need to be solved on an urgent basis?

A.   45%

B.   50%

C.   60%

D.   75% 

25: 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

26: A correlational study is likely to use ____________ research design

A.   Survey

B.   Exploratory

C.   Causal

D.   Descriptive

27: Brian takes a loan of $20000 from a bank for a period of 2 years. If his EMI is $904.5, calculate the annual rate of interest at which he took the loan.

A.   6%

B.   7%

C.   8%

D.   9% 

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

A.   Longitudinal

B.   Exploratory

C.   Long-term

D.   Descriptive

29: Adam, Brian and Charlie start a business by investing $1400. Together Adam and Brian are supposed to do three seventh of the work in the business. What was Charlies share at the start of the business?

A.   $700

B.   $800

C.   $900

D.   $1000

30: 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 

31: Which is a graphic representation of data based on paired observations?

A.   A pie chart

B.   A bar graph

C.   A scatter plot

D.   Both a and b 

32: Andy takes a loan of $10000 from a bank for a period of 3 years at 10% annual rate of interest. Calculate his EMI(Equated Monthly Installment).

A.   $323

B.   $423

C.   $223

D.   $523 

33: Numerical data or measure that describes a sample is _______________.

A.   Parameter

B.   Population

C.   Statistic

D.   Survey 

34: Ordinal numbers or data are concerned with _____________.

A.   Evaluations

B.   Observations

C.   Rankings

D.   None of the above 

35: Which types of data are called Parametric data?

A.   Ordinal and Nominal

B.   Ratio and Nominal

C.   Interval and Rational

D.   Ratio and Interval

36: Adam and Brian start a business. Twice the investment made by Adam is equal to thrice the investment of Brian. Calculate Brians share if there is a profit of $2500 in the business.

A.   $2000

B.   $1000

C.   $2500

D.   $1500 

37: 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

38: George, Michael and Samuel give $40000 to Peter to start a business. George gives $5000 more than Michael and Michael gives $4000 more than Samuel. Out of a total profit of $10000 from the business, how much does Michael receive?

A.   3150 $

B.   4500 $

C.   3250 $

D.   4100 $ 

39: Calculate the simple interest on a sum of $5000 at an interest rate of 20% per annum for a period of 1 year

A.   $2000

B.   $1000

C.   $1500

D.   $500 

40: What type of analysis is Estimation?

A.   Differential

B.   Descriptive

C.   Inferential

D.   Interpretive 

41: Conducting a focus group is an example of _____________ research design.

A.   Quantitative

B.   Experimental

C.   Qualitative

D.   Hypothetical

42: Continuous improvement is typically associated with ____.

A.   Low morale and reduced customer satisfaction

B.   A reduction in variation and higher customer satisfaction

C.   Batch processing and a broad chain of command

D.   A flat organizational structure and a broad chain of command

E.   Higher customer satisfaction and a narrower chain of command

43: Corporate-level strategy is concerned with ____ and how to manage these businesses.

A.   Whether the firm should invest in global or domestic businesses

B.   What product markets and businesses the firm should be in

C.   None of these

44: Programmed decision making is a(n) ______ process.

A.   Routine

B.   Prescriptive

C.   Nonprogrammed decisions

D.   Groupthink

45: Programmed decisions are made in response to _____ organizational problems.

A.   Unusual

B.   Recurring

C.   Significant

D.   Minor

E.   Unique

46: The traditional network design approach does not work well for _________ networks.

A.   Slowly evolving

B.   Rapidly growing

C.   Static

D.   Modestly growing

E.   Not growing

47: The traditional systems development life cycle (sdlc) is divided into _____ phases.

A.   Five

B.   One

C.   Four

D.   Six

48: The business analysis stage of a new-product development process _____.

A.   ​involves the development of a prototype of the proposed product

B.   ​calculates preliminary figures for demand, cost, sales, and profitability

C.   ​eliminates ideas that are inconsistent with an organization's new-product strategy

D.   Decides on a product's packaging, branding, labeling, and so forth

49: The ______ is erratic shifts in orders up and down the supply chain.

A.   Push model

B.   Bullwhip effect

C.   Make

D.   Just-in-time

50: _____ should ultimately be the focus of any outsourcing or insourcing decisions made by a company.

A.   Firm value

B.   Supply chain management

C.   Organizational capabilities

D.   Revenue

E.   The custome