College of Business And Economics

Department of Economics
_________________________________________________________________

Make up final exam on Introduction to Statistics (Econ 2041)

Program: Extension economics 2nd year
maximum weight: 50%
Time Allotted: 1:40 hours
_________________________________________________________________________
General Instructions!
1. Read instruction of the exam paper carefully!
2. Write your full name on the space given below and on the answer sheet.
3. Make sure the exam contains,
i) three parts (30 multiple choices and 5 true/false)
ii) six pages printed, including the cover page and answer sheet.
4. Switch off your mobile phone. Using a mobile phone for any purpose is
strictly forbidden and sharing calculator is not allowed
5. Do not mark any answer on the question paper. Put your answers on the answer
sheet only.
6. There is no excuse for any attempt to cheat. It entails serious penalty.

Name: ________________________________ ID. No._______

___________

BEST OF LUCK!

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part one: choose the best alternative for each of the following questions
and write your choice on the answer sheet provided (1.5 pt each)
1. Which of the following is/are under the category of a relative measure of
dispersion:
A. Standard deviation C. Variance
B. Coefficient of variation D. All of the above
2. If the mean value and coefficient of variation of a data set is 10 and 5,
respectively, then the standard deviation become:
A. 50 C. 5
B. 10 D. 15
E. none of the above
3. If quartile deviation of a hypothetical data is 8, then value of the inter quartile
range will be:
A. 16 C. 24
B. 12 D. 4
E. none of the above
4. The algebraic sum of the deviations from mean is:
A. Maximum C. Zero
B. Minimum D. None of the above
5. The measure of central tendency which is most strongly influenced by extreme
values in the ‘tail’ of the distribution is:
A. Mean C. Mode
B. Median D. None of the above
6. If an observation in the data set is zero, then its geometric mean, in the real
number space, is:
A. Positive C. Zero
B. Negative D. Indeterminant
7. Suppose hypothetical observations be given by: 10, 8, 6, 2, 4 and if each of
those observations are multiplied by 2, what will be the new arithmetic mean
value?
A. 6 C. 12
B. 30 D. 60

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8. If one event is unaffected by the outcome of another event, then the two events
are said to be:
A. Dependent events C. Mutually exclusive events
B. Independent events D. All of the above
9. which of the following is/are limitations of modal values of a data set?
A. It is easy to calculate and understand C. It doesn’t consider all the items
B. It is not affected by extreme values D. It can be used for qualitative
data
E. All of the above
10.Given a data set of 2, 5, 6, 8, 9, 10, 12, 13, 15, 18, then the 𝑃50 (the 50th
percentile) approximately become:
A. 5.5 C. 18
B. 10 D. 2
E. none of the above
11.The mean of a data is 25.6 and its coefficient of variation is 18.75% then
the standard deviation become:
A. 0.048 C. 6.85
B. 4.8 D. 44.35
E. none of the above
12.If a family has three children, what is the probability that two of the three
children are girls?
A. 0.375 C. 0.25
B. 0.67 D. 0.75
E. None of the above
13.Suppose you want to select a 3-person committee from a group of 9 students.
How many ways are there to do this?
A. 84 C. 504
B. 60480 D. 27
E. None of the above
14.What is the probability of getting an odd number in tossing a dice one times?
A. 1/6 C. 1/2
B. 1/3 D. 1
E. None of the above
15.Which of the following is not measures of position?

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 A. Standard deviation C. Deciles
B. Quartiles D. Percentiles

16.A group of 20 values has a mean of 85 and a median of 80. A different group of
30 values has a mean of 75 and a median of 72. What is the mean of the 50
values?
A. 79 C. 85
B. 90 D. 75
E. None of the above
17.A student has scored 68 in Statistics for which the average mark was 60 and the
standard deviation was 10. In marketing course, he scored 74 for which the
average mark was 68 and the standard deviation was 15. In which course was
his relative standing higher?
A. Marketing C. The student is on equal standing in both
courses
B. Statistics D. Cannot be determined
18.The degree of flatness or peakedness in the region around the mode of a
frequency curve is:
A. Skewness C. Central tendency
B. Kurtosis D. Dispersion
19.If the mean of data is greater than median, and the median is greater than mode
(mean>median> mode ¿, then the distribution of numerical values in the data set is:
A. Symmetrical distribution C. Positively skewed
distribution
B. Negatively skewed distribution D. None of the above
20.Events which have the same chance of occurring are:
A. Mutually exclusive events C. Elementary events
B. Complement events D. Equally likely events
21.The mean of ten numbers is 58. If one of the numbers is 40, what is the mean of
the other nine?
A. 18 C. 162
B. 60 D. 540
22.For the set of data consisting of 8, 8, 9, 10, 10, which statement is true?

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 A. mean = mode C. median = mode
B. mean = median D. mean < median

23.Margie has grades 86, 68 and 79 in her first three tests in Algebra. What grade
must she obtain on the fourth test to get an average grade of 78?
A. 76 C. 77
B. 78 D. 79

24.Consider the following data: 1, 2, 4, 5, 10, 12, 18. The 30th percentile is closest
to:
A. 2 C. 2.8
B. 4.8 D. 5
25.Suppose the mean return on equity (ROE) for a group of firms in an industry is
15 percent with a variance of 9 percent. The coefficient of variation of the
industry's ROE is:
A. 0.2 C. 1.7
B. 0.6 D. 5
26.The annual returns (in percent) for a sample of stocks in the technology industry
over the past year are as follows: 4.2, -9.4, 2.8, -16, -6.6. The median return is
closest to:
A. -6.6 C. 0
B. -5 D. 2.8
27.The probability of an event that is certain to occur will have a value of:
A. 0 C. 1
B. 0.05 D. 0.1
28.On a multiple-choice test with five possible answers for each question, what is
the probability of answering a question correctly if you make a guess?
A. 4/5 C. 5/10

B. ¼ D. 1/5
29.Which of the following cannot be a probability value?
A. 0.99 C. 3/5
B. Square root of 4 D. 1
30.What will be the complement of A, if probability of A, P(A) = 0.25

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 A. 0.75 C. 0.93
B. 0.57 D. 0.25

Part two: write “true” if the statement is correct and “false” otherwise on
the space provided (1 pt each)
1. Range is a measure of variation which gives us information about scatter of
values around a measure of central tendency.
2. The standard deviation is measured in the same unit as the observations in the
data set.
3. Harmonic mean is the reciprocal of arithmetic mean.
4. The arithmetic mean is the middle value of a data set.
5. Given the mean value, the higher the variance of a data set is associated higher
coefficient of variation

Answer Sheet
Name: ____________________________ ID. No.___________ Section: _____
Multiple choice True/ False
1. 11. 21. 1.
2. 12. 22. 2.
3. 13. 23. 3.
4. 14. 24. 4.
5. 15. 25. 5.
6. 16. 26.
7. 17. 27.
8. 18. 28.
9. 19. 29.
10. 20. 30.

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