**Business Statistics top short questions**

- Comment: “Mean is unbiased estimator and standard deviation is a biased estimator”.
- Comment: “Poisson is a limiting form of Binomial distribution.
- "The value of index can be obtained with the help of different methods, but that method is the best which satisfies Time Reversal' and factor 'reversal test'. Comment.
- "Different formulae, to find the value of index, are used in different situations." Comment.
- Comment on “Laspeyre's has upward bias and Paasche's has downward bias."
- Comment on "Fisher's index is ideal because it satisfies time reversal and factor reversal test".
- Comment: "Coefficient of correlation is independent of change of origin and change of scale, whereas regression coefficients are independent of change of origin but not change of scale."
- “A correlation coefficient r=0.8 indicates a relationship twice as close to r=0.4” Comment.
- Do you agree with the following statement and comment: "Dispersion indicates the variations round the value of mean, and skewness and kurtosis indicate the nature of variations round the value of means, whether they are symmetrical or not."
- Comment: "Measures of dispersion and central tendency are complementary to each other in highlighting the characteristics of a frequency distribution."
- "A cat was sitting on the floor of the house and looking for rats in the kitchen." Count the number of letters in each word of the above statement and make a frequency table (i) of the discrete type (ii) of continuous type by taking the suitable size of the class interval.
- "Every average has its own peculiar characteristics. It is difficult to say which average is the best." Comment.
- Comment "Statistics is the science of averages."
- Comment "Statistics is a scientific method."
- Comment "Statistics is a body of methods for making wise decision in the face of uncertainty."

- Comment "Statistics affects everybody and touches life at many points. It is both a science and an art"
- Comment "Statistics can prove any thing."
- Comment "Proper function of statistics is to enlarge individual experience."
- Comment "Statistics does study quantitative variable and does not .study qualitative variable."
- Comment: "Large number of figures are more consistent as compared to small number of figures".