1. If the price of butter increases, then the demand for margarine will likely _____.
Answer
Correct Answer:
Increase
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2. A(n) ________ is a network of activities that generate worth by transforming inputs into outputs.
Answer
Correct Answer:
Business ssproce
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3. _____ should ultimately be the focus of any outsourcing or insourcing decisions made by a company.
Answer
Correct Answer:
The custome
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4. The ______ is erratic shifts in orders up and down the supply chain.
Answer
Correct Answer:
Bullwhip effect
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5. The business analysis stage of a new-product development process _____.
Answer
Correct Answer:
calculates preliminary figures for demand, cost, sales, and profitability
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6. The traditional systems development life cycle (sdlc) is divided into _____ phases.
Answer
Correct Answer:
Five
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7. The traditional network design approach does not work well for _________ networks.
Answer
Correct Answer:
Rapidly growing
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8. Programmed decisions are made in response to _____ organizational problems.
Answer
Correct Answer:
Recurring
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9. Programmed decision making is a(n) ______ process.
Answer
Correct Answer:
Routine
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10. Corporate-level strategy is concerned with ____ and how to manage these businesses.
Answer
Correct Answer:
Whether the firm should invest in global or domestic businesses
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11. Continuous improvement is typically associated with ____.
Answer
Correct Answer:
A reduction in variation and higher customer satisfaction
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12. Conducting a focus group is an example of _____________ research design.
Answer
Correct Answer:
Qualitative
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13. What type of analysis is Estimation?
Answer
Correct Answer:
Inferential
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14. Calculate the simple interest on a sum of $5000 at an interest rate of 20% per annum for a period of 1 year
Answer
Correct Answer:
$1000
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15. 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?
Answer
Correct Answer:
3250 $
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16. All of the following are advantages of the survey and questionnaires method of business research EXCEPT:
Answer
Correct Answer:
Provides causative information
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17. 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.
Answer
Correct Answer:
$1500
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18. Which types of data are called Parametric data?
Answer
Correct Answer:
Ratio and Interval
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19. Ordinal numbers or data are concerned with _____________.
Answer
Correct Answer:
Rankings
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20. Numerical data or measure that describes a sample is _______________.
Answer
Correct Answer:
Statistic
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21. 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).
Answer
Correct Answer:
$323
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22. Which is a graphic representation of data based on paired observations?
Answer
Correct Answer:
A scatter plot
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23. The difference between a _________ and a ___________is a very important concept in Business Statistics.
Answer
Correct Answer:
Population, Sample
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24. 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?
Answer
Correct Answer:
$800
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25. ______________ research design is usually used when little information is available about the object of study.
Answer
Correct Answer:
Exploratory
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26. 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.
Answer
Correct Answer:
8%
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27. A correlational study is likely to use ____________ research design
Answer
Correct Answer:
Descriptive
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28. A _______________ presents data from two sets of observations or variables
Answer
Correct Answer:
Contingency table
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29. 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?
Answer
Correct Answer:
50%
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30. 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.
Answer
Correct Answer:
$10000
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31. A stem-and-leaf display is a way to organize _____________ data into chunks?
Answer
Correct Answer:
Numerical
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32. Nominal data uses numbers to indicate a _______________.
Answer
Correct Answer:
Classification
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33. Many statistical calculations are based on _____________.
Answer
Correct Answer:
Observations
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34. Calculate the median from the following table:
Answer
Correct Answer:
56
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35. 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
Answer
Correct Answer:
$3075.50
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36. 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?
Answer
Correct Answer:
$671.8
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37. What are the main sources of stress during your workday? is an example of a(an) __________ question.
Answer
Correct Answer:
Open-ended
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38. 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.
Answer
Correct Answer:
120
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39. Which out the following scatter diagrams is likely to represent a complex relationship between two variables?
Answer
Correct Answer:
D
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40. 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?
Answer
Correct Answer:
$12000
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41. When conducting business research, the first step in the process is to formulate a ___________.
Answer
Correct Answer:
Research question
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42. Which of the following is not an example of Formal Research?
Answer
Correct Answer:
A count of the number of cars that pass through a certain intersection every hour.
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43. 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?
Answer
Correct Answer:
4 months
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44. The table consists of the incentives achieved by the employees in an organization. Calculate the mode.
Answer
Correct Answer:
90
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45. All of the following are things that must be considered in business research ethics EXCEPT
Answer
Correct Answer:
Researcher cost
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46. 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.
Answer
Correct Answer:
Quantitative
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47. To construct a scatterplot, you need at least __________ variables to plot.
Answer
Correct Answer:
2
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48. Calculate the compound interest compounded half yearly for 1 year on $10000 at an interest rate of 6% per annum.
Answer
Correct Answer:
$609
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49. 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
Answer
Correct Answer:
0.71
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50. Gaining information from government archives and data repositories is an example of ______ data.
Answer
Correct Answer:
Secondary
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51. Which of the following is not a data collection method?
Answer
Correct Answer:
Managers' experience
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