Business Statistics MCQs

1. (A) To make predictions
(B) To test hypotheses
(C) To summarize and describe data
(D) To design experiments
Answer: (C) To summarize and describe data

2. Which of the following is a measure of central tendency?
(A) Range
(B) Standard deviation
(C) Median
(D) Variance

3. The mean of a dataset is the:
(A) Middle value
(B) Most frequent value
(C) Sum of values divided by the number of values
(D) Difference between highest and lowest values

4. The standard deviation measures:
(A) The center of the distribution
(B) The frequency of data
(C) The spread or variability of data
(D) The number of observations

5. Which of the following is NOT a type of sampling?
(A) Random sampling
(B) Stratified sampling
(C) Cluster sampling
(D) Variable sampling

6. What does a p-value less than 0.05 indicate?
(A) Strong evidence against the null hypothesis
(B) Strong evidence in favor of the null hypothesis
(C) No significant results
(D) Data is normally distributed

7. In a normal distribution, what percentage of data lies within ±1 standard deviation?
(A) 50%
(B) 68%
(C) 95%
(D) 99.7%

8. The mode is the value that:
(A) Appears least frequently
(B) Appears most frequently
(C) Is always equal to the mean
(D) Divides data into two equal halves

9. Inferential statistics is used to:
(A) Organize data
(B) Summarize data
(C) Draw conclusions about a population from a sample
(D) Count frequencies

10. A histogram is best used for:
(A) Categorical data
(B) Qualitative data
(C) Continuous data
(D) Nominal data