This quiz post contains MCQs about Basic Statistics with answers covering variable and type of variable, Measure of central tendencies such as mean, median, mode, Weighted mean, data and type of data, sources of data, Measure of Dispersion/ Variation, Standard Deviation, Variance, Range, etc. Let us start the MCQs Basic Statistics Quiz.
Basic statistics deals with the measure of central tendencies (such as mean, median, mode, weighted mean, geometric mean, and Harmonic mean) and measures of dispersion (such as range, standard deviation, and variances).
Basic statistical methods include planning and designing the study, collecting data, arranging, and numerical and graphically summarizing the collected data.
Basic statistics are also used to perform statistical analysis to draw meaningful inferences. Basic statistics are used to extract useful information from the data. The extracted information may be useful for decision-making purposes.
A basic visual inspection of data using some graphical and numerical statistics may give some useful hidden information already available in the data. The graphical representation includes a bar chart, pie chart, dot chart, box plot, histogram, frequency polygon, scatter diagram, stem and leaf plot, cumulative frequency curve, and Pareto Chart, etc.
Companies related to finance, communication, manufacturing, charity organizations, government institutes, simple to large businesses, etc. are all examples that have a massive interest in collecting data and measuring different sorts of statistical findings. This helps them to learn from the past, notice the trends, and plan for the future.