1 Marks Each

Question 11 Mark

What is marginal revenue?

Answer

The change in revenue due to small change in demand is caled marginal revenue.

View full question & answer→

Question 21 Mark

If $\lim _{x \rightarrow-1} 4 x+k=6$ then find the value of $K$.

Answer

$4 x+ k =6$
$4(-1)+ k =6$
$-4+ k =6 $
$\therefore k =6+4$
$\therefore k =10$

View full question & answer→

Question 31 Mark

Write the probability density function of normal random variable.

Answer

$f(x)=\frac{1}{\sigma \sqrt{2 \pi}} e^{-\frac{1}{2}\left(\frac{x-\mu}{\sigma}\right)^2}$

View full question & answer→

Question 41 Mark

"Standard score is independent of unit of measurement". Is this statement true or false?

Answer

This statement is true.

View full question & answer→

Question 51 Mark

State the relation between the probability of success and failure in Bernoulli trials.

Answer

The relation between the probability of success and failure is $p+q=1$.

View full question & answer→

Question 61 Mark

Define random experiment.

Answer

The experiment which can be independently repeated under identical conditions and all its possible outcomes are known but which of the outcomes will appear cannot be predicted with certainty before conducting the experiment is called a random experiment.

View full question & answer→

Question 71 Mark

What is a time-series?

Answer

The data collected and arranged according to the time is called timeseries. OR A time series is a set of observations taken at specified time periods.

View full question & answer→

Question 81 Mark

State the linear regression model.

Answer

Linear Regression Model is $Y =\alpha+\beta X =u$

View full question & answer→

Question 91 Mark

What is the main limitation of scatter diagram method?

Answer

The main limitation of scatter diagram is that it does not give exact degree of relationship between two variables.

View full question & answer→

Question 101 Mark