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Business Statistics top short questions

1. Comment: “Mean is unbiased estimator and standard deviation is a biased estimator”.
2. Comment: “Poisson is a limiting form of Binomial distribution.
3. "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.
4. "Different formulae, to find the value of index, are used in different situations." Comment.
5. Comment on “Laspeyre's has upward bias and Paasche's has downward bias."
6. Comment on "Fisher's index is ideal because it satisfies time reversal and factor reversal test".
7. 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."
8. “A correlation coefficient r=0.8 indicates a relationship twice as close to r=0.4” Comment.
9. 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."
10. Comment: "Measures of dispersion and central tendency are complementary to each other in highlighting the characteristics of a frequency distribution."
11. "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.
12. "Every average has its own peculiar characteristics. It is difficult to say which average is the best." Comment.
13. Comment  "Statistics is the science of averages."
14. Comment  "Statistics is a scientific method."
15. Comment  "Statistics is a body of methods for making wise decision in the face of uncertainty."

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