A time series is a set of data recorded ________.

(a)

Periodically

(b)

Weekly

(c)

successive points of time

(d)

all the above

A time series consists of ________.

(a)

Five components

(b)

Four components

(c)

Three components

(d)

Two components

The components of a time series which is attached to short term fluctuation is ________.

(a)

Secular trend

(b)

Seasonal variations

(c)

Cyclic variation

(d)

Irregular variation

Factors responsible for seasonal variations are ________.

(a)

Weather

(b)

Festivals

(c)

Social customs

(d)

All the above

The additive model of the time series with the components T, S, C and I is ________.

(a)

y = T + S + C × I

(b)

y = T + S × C × I

(c)

y = T + S + C + I

(d)

y = T + S × C + I

Least square method of fitting a trend is ________.

(a)

Most exact

(b)

Least exact

(c)

Full of subjectivity

(d)

Mathematically unsolved

The value of ‘b’ in the trend line y = a + bx is ________.

(a)

Always positive

(b)

Always negative

(c)

Either positive or negative

(d)

Zero

The component of a time series attached to long term variation is trended as ________.

(a)

Cyclic variation

(b)

Secular variations

(c)

Irregular variation

(d)

Seasonal variations

The seasonal variation means the variations occurring with in ________.

(a)

A number of years

(b)

within a year

(c)

within a month

(d)

within a week

Another name of consumer’s price index number is: ________.

(a)

Whole-sale price index number

(b)

Cost of living index

(c)

Sensitive

(d)

Composite

Cost of living at two different cities can be compared with the help of ________.

(a)

Consumer price index

(b)

Value index

(c)

Volume index

(d)

Un-weighted index

Laspeyre’s index = 110, Paasche’s index = 108, then Fisher’s Ideal index is equal to: ________.

(a)

110

(b)

108

(c)

100

(d)

109

Most commonly used index number is: ________.

(a)

Volume index number

(b)

Value index number

(c)

Price index number

(d)

Simple index number

Consumer price index are obtained by: ________.

(a)

Paasche’s formula

(b)

Fisher’s ideal formula

(c)

Marshall Edgeworth formula

(d)

Family budget method formula

Which of the following Index number satisfy the time reversal test?

(a)

Laspeyre’s Index number

(b)

Paasche’s Index number

(c)

Fisher Index number

(d)

All of them

While computing a weighted index, the current period quantities are used in the: ________.

(a)

Laspeyre’s method

(b)

Paasche’s method

(c)

Marshall Edgeworth method

(d)

Fisher’s ideal method

The quantities that can be numerically measured can be plotted on a ________.

(a)

p - chart

(b)

c – chart

(c)

x bar chart

(d)

np – chart

How many causes of variation will affect the quality of a product?

(a)

4

(b)

3

(c)

2

(d)

1

Variations due to natural disorder is known as ________.

(a)

random cause

(b)

non-random cause

(c)

human cause

(d)

all of them

The assignable causes can occur due to ________.

(a)

poor raw materials

(b)

unskilled labour

(c)

faulty machines

(d)

all of them

A typical control charts consists of ________.

(a)

CL, UCL

(b)

CL, LCL

(c)

CL, LCL, UCL

(d)

UCL, LCL

\(\overset {-}{X}\) chart is a ________.

(a)

attribute control chart

(b)

variable control chart

(c)

neither Attribute nor variable control chart

(d)

both Attribute and variable control chart

R is calculated using ________.

(a)

x_max - x_min

(b)

x_min - x_max

(c)

\(\overset{-}{x}\)_max - \(\overset{-}{x}\)_min

(d)

\(\overset{=}{x}\)_max - \(\overset{=}{x}\)_min

The upper control limit for \(\overset {-}{X}\) chart is given by ________.

(a)

\(\bar { X } +{ A }_{ 2 }\bar { R } \)

(b)

\(\overset { = }{ X } +{ A }_{ 2 }R\)

(c)

\(\overset { = }{ X } +{ A }_{ 2 }\bar { R } \)

(d)

\(\overset { = }{ X } +{ A }_{ 2 }\overset { = }{ R } \)

The LCL for R chart is given by ________.

(a)

\({ D }_{ 2 }\bar { R } \)

(b)

\({ D }_{ 2 }\overset { = }{ R } \)

(c)

\({ D }_{ 3 }\overset { = }{ R } \)

(d)

\({ D }_{ 3 }\bar { R } \)