Quantitative Methods Quiz no 1

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[Quantitative Method Quiz no 1 ]

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Introduction to Quantitative Methods

Quantitative methods involve the collection, analysis, and interpretation of numerical data. They are widely used in fields such as economics, business, psychology, and natural sciences. These methods enable researchers to identify patterns, test hypotheses, and make predictions based on statistical evidence.


Importance of Quantitative Research

Quantitative research is essential for generating precise, reliable, and objective results. It allows for the examination of relationships between variables and helps in making data-driven decisions. Quantitative methods provide a systematic approach to testing theories, measuring variables, and assessing outcomes, offering a high level of accuracy and reproducibility.


Key Concepts in Quantitative Methods


Variables

Variables are the characteristics or properties that researchers measure in a study. They can be classified into independent variables (factors that influence outcomes) and dependent variables (outcomes affected by the independent variables). Proper identification and measurement of variables are critical for the validity of quantitative research.


Data Collection

Data collection is the process of gathering numerical information from various sources, including surveys, experiments, and archival records. The quality of data collected significantly impacts the accuracy of the research findings. Common data collection methods include questionnaires, interviews, and observational studies.


Sampling

Sampling involves selecting a subset of individuals or items from a larger population to represent the whole. Proper sampling techniques, such as random sampling or stratified sampling, ensure that the sample accurately reflects the population, which is essential for generalizing results.


Hypothesis Testing

Hypothesis testing is a statistical method used to determine whether there is enough evidence to support a proposed theory or assumption. Researchers formulate null and alternative hypotheses, collect data, and analyze it to either accept or reject the hypothesis.


Quantitative Research Designs

Quantitative research designs provide structured methods for conducting studies. There are several types of research designs in quantitative methods, each serving different purposes and yielding specific insights.


Descriptive Research

Descriptive research focuses on observing and describing the characteristics of a population or phenomenon without manipulating any variables. It is useful for understanding the current state of affairs and identifying trends.


Correlational Research

Correlational research examines the relationship between two or more variables to understand if and how they are associated. It does not imply causation but provides insights into the strength and direction of relationships.


Experimental Research

Experimental research involves manipulating one or more independent variables to observe their effect on a dependent variable. It is the most rigorous research design for establishing causation and is widely used in fields like psychology and natural sciences.


Quasi-Experimental Research

Quasi-experimental research is similar to experimental research but lacks random assignment of subjects to groups. It is commonly used in social sciences when randomization is not feasible.


Statistical Techniques in Quantitative Methods

Statistical techniques are essential tools for analyzing data in quantitative research. They help in summarizing data, identifying patterns, and testing hypotheses.


Descriptive Statistics

Descriptive statistics summarize data through measures of central tendency (mean, median, mode) and measures of dispersion (range, variance, standard deviation). These techniques provide a snapshot of the data, making it easier to interpret.


Inferential Statistics

Inferential statistics allow researchers to make generalizations about a population based on a sample. Techniques like t-tests, chi-square tests, and analysis of variance (ANOVA) are used to assess the significance of findings and draw conclusions.


Regression Analysis

Regression analysis explores the relationship between a dependent variable and one or more independent variables. It is widely used in fields such as economics, business, and psychology for making predictions and understanding factors influencing outcomes.


Factor Analysis

Factor analysis is a technique used to reduce data complexity by identifying underlying factors or components. It is commonly used in survey research to identify patterns in responses and simplify data interpretation.


Applications of Quantitative Methods

Quantitative methods are applied across various fields, including business, healthcare, and education. Their versatility makes them valuable for decision-making, policy development, and evaluating program effectiveness.


Business and Economics

In business and economics, quantitative methods are used for market analysis, financial forecasting, and risk assessment. Companies rely on quantitative data to make strategic decisions and optimize performance.


Healthcare

In healthcare, quantitative methods are essential for clinical trials, epidemiological studies, and health policy development. They provide evidence-based insights that improve patient outcomes and public health interventions.


Education

Quantitative methods are applied in educational research to evaluate student performance, assess teaching effectiveness, and develop policies. Standardized testing and surveys are common tools used to gather quantitative data in education.


Advantages and Limitations of Quantitative Methods

Quantitative methods offer numerous advantages, such as precision, objectivity, and reproducibility. However, they also have limitations, including the potential for researcher bias in data interpretation, difficulty in capturing complex human behaviors, and the potential oversimplification of data.


Advantages

  • Objectivity: Quantitative methods rely on numerical data, reducing subjective interpretation.
  • Replicability: Studies can be replicated, leading to more reliable findings.
  • Statistical Analysis: Quantitative methods allow for complex statistical analyses to identify patterns and relationships.

Limitations

  • Limited Depth: Quantitative data may lack the depth needed to understand complex phenomena fully.
  • Potential for Bias: Poorly designed studies can lead to biased results.
  • Resource-Intensive: Data collection and analysis in quantitative research can be time-consuming and costly.

Conclusion

Quantitative methods are indispensable tools for researchers across various disciplines, providing a systematic approach to analyzing data and drawing evidence-based conclusions. While they have limitations, their strengths make them a cornerstone of scientific research. Understanding quantitative methods is essential for anyone looking to engage in data-driven analysis and decision-making.

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1) Which of the folio-wing statements as regards to the value of the correlation coefficient is/are con-ect?
(i) The coefficient of determination is the square of the correlation coefficient
 (ii) The value of the coefficient of determination must always be in the range O to +1

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2) You are given 7  true false questions and required to find the probability of at least 1 will be collect?

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3) If Naina and Maina both invested same amount for 6 years and the rate of interest are 9% and 10% compounded annually respectively. Then how much more percent amount Maina will have after 6 years than Naina?

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4) If dice is rolled  5 times, then probability of appearing 3 at least one time,?

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5) Which of the following statement is/are correct:
(i) In Laspeyre price index, the denominator does not change from year to year.
 (ii) In Paasches price index, the denominator has to be recalculated every year to take account of the most recent quantities consumed

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6) Starting Salaries of group of fresh graduates are as follows:
63000, 70000, 68000, 72000, 78000 63000, 65000, 73000
Find the median of the above salaries mode of the above salaries

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7) Which of the following statements is/are c01rect in regards the sampling distribution of the mean?
(i)The sampling distribution of the mean is a normal distribution
 (ii)The mean of the sampling distribution of the mean is the same as the mean of the population

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8) Which of the following statements is/are correct about random sample?
(i) It is bias free sample
(ii) It is not suitable for investigators who are interested in issues related to subgroups of a population

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9)

The average performance of the students of a college over last 10 years shows that the percentages of students securing A, B and C grades are 15%, 30% and 55% respectively. The current year's result shows that out of total 400 students, the number of students securing A, B and C grades aggregated to 64 , 144 and 192 respectively. Calculated value of chi square for this data would be?

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10) An automobile company reports that the average annual maintenance cost for its 1300 cc car is currently Rs.11,025. A random sample of 100 customers has mean annual maintenance of Rs.11,418 and standard deviation of Rs.1,775. The calculated and table values of z  in this case at 1% level of significance is?

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11) From a given finite population, samples are drawn with replacement. If sample size is increased from 10 to
100. The standard error would

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12) A sample of 100 employees of an entity had a mean weight of 170 pounds with a standard deviation of 5 pound. Which of the following sample sizes will result in a confidence interval of the mean ±1 pound for this data at the 90% confidence interval?

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13) Which of the following statement is/are correct about sampling distribution?
(i)The mean of a sampling distribution is the same as the mean of the population
(ii)Sampling distribution is  symmetrical about its mean

 

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14) Which of the following statements as regards to Normal distribution is/are correct?
(i)Both tails of the distribution approach and meet the h0rizontal axis at a finite but high value
(ii) lower standard deviation  leads to a flatter curve

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15) In a consignment of 25 auto batteries, 3 are defective.  If a random sample of 5 batteries is selected, the probability of having exactly 2 defective batteries is?

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16) Online booking system of food channel receives an average of two orders in every four minutes. Assuming an approximate Poisson distribution that five or more orders will be received during a period of eight minutes

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17) The weights of bags office packed on a machine are normally distributed with mean= 5.15 kg and standard deviation 0.05kg. If a bag is picked at random, find the probability that it weighs less than 5 kg is?

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18) There are 5 red and 7 black cars for sale at fast wheels. If 2 cars are sold. what is the probability that both are red?

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19) The events A and B are mutually exclusive.

  • If P(A) = 0.5 and P(B) = 0.4, then R(A or B) is:

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20) Which of the following statements as regards to the value of the correlation coefficient is/are correct?
(i) It is always greater than 0
(ii)It is always lies in the range -1 to+ 1

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21) Which of the following statements about scatter diagram is/are correct?
(i) It leads to more accurate results if the collected data is a typical
(ii) It might indicate a relationship where there is none

 

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22) A 4-digit pin code can begin with any number except 0, 1 & 2. If repetition of the same digit is allowed, the probability of a pin code begin with 5 and end with a 3 is

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23) If a dice is rolled 5 times, then probability of appearing 3 at least one time is

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24) Which of the following statements as regards to variance is/are correct?

  • (i)It can never be smaller than the standard deviation
  • (ii) It can never be zero

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25) Which of the following statements is/are correct?
(i)   Range is a measure of dispersion.

(ii)  Percentile is a measure of dispersion

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