Business Statistics part - A important questions and answer

Index: Business Statistics part - A important questions and answer

1. Question: what is statistics?

Answer: Business statistics is science of decision making in the field of uncertainty.

2.Question: What is business statistics?

Answer: Business statistics is science assisting us to make business decision uncertainties based on some numerical and measurable scale.

3.Question: Who is the father of modern statistics?

Answer: Sir Ronal A. Fisher in the modern statistics .

4.Question: Define data

Answer: Data are the collection of any number and raw facts of related observation.

5.Question: What do you mean by primary data?

Answer: Data that have been collected from the origin of the field is Called primary data.

6.Question: What do you mean by Secondary data?

Answer: The data whish are already published or utilized are called secondary data.

7.Question: What is frequency ?

Answer: Frequency means number of observations of a specific value or class.

8.Question: What is Frequency distribution?

Answer: Frequency distribution is organized display of data that shows the number of observation that falls into classes.

9.Question: What is meant by cumulative frequency distribution?

Answer: A cumulative frequency distribution is a tubular display of data showing how many observations lie above or below, certain value.

1 Question: what is Histogram?

Answer: Histogram is pictorial display that is composed of a series of rectangle which depicts the information in a frequency table.

11.Question:What is variable?

Answer: The characteristic which varies over the units is called variable.

12.Question: Define discreate variable?

Answer: A discreate variable is restricted to contain values, usually whole number.

13.Question:What is random variable?

Answer: A variable those values are determined by change is called random variable

14.Question: what is questionnaire?

Answer: A questionnaire Is a written list of questions which are answered by a lot of people in order to provide information to report a survey.

15.Question: What is stem and leaf display?

Answer: team and leaf display is a statistical technique to represent a set of data.

16.Question: What is mean by classification?

Answer: classification is the process of arranging things in groups or glasses according to their resemblance and Affinities.

17.Question: What is the central tendency?

Answer: Central tendency is a difficult value of the entire group of data

18.Question: what is measure of central tendency?

Answer: measure of central tendency Indicate the value to be expected of a typical or middle data point.

19.Question: what is average?

Answer: An average is a value that represents the value of wheel fingers.

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