1 Marks Each

Question 11 Mark

State the formula of elasticity of demand.

Answer

Elasticity of demand $=\frac{-p}{x} \cdot \frac{d x}{d p}$ OR Elasticity of demand $=$ -percentage change in demand percentage change in price

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Question 21 Mark

Explain the meaning of $x \rightarrow 0$.

Answer

If by decreasing the positive value of a variable $x$ or by increasing negative value of the variable $x$, the value of $x$ is brought very close to ' $O$ ' then it can be said that $x$ terds to $O$. It is denoted by $x \rightarrow 0$.

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Question 31 Mark

Define probability density function fo normal variable.

Answer

If $X$ is a random variable with mean $\mu$ and standard deviation $\sigma$ and if its probability dersity functionis $f(x)=\frac{1}{\sigma \sqrt{2 r}} e^{-\frac{1}{2}\left(\frac{x-\mu}{\sigma}\right)} ; \quad-\infty$

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Question 41 Mark

For which value of standard normal variable, the standard normal curve is symmetric on both the sides?

Answer

For $Z =0$, the standard normal curve is symmetric on both the sides.

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Question 51 Mark

Define Bernoulli trials.

Answer

Suppose dichotomous random experiment has two outcomes, success $(s)$ and failure $(f).$ If this experiment is repeated $n$ times under identical conditions and the probability $p ( O < P <1 )$ of gettin gsuccess at each trial is constant there such trials are called bernovtli Trials.

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Question 61 Mark

Write the sample space of a random experiement of throwing one balanced die and a balanced coin simultaneously.

Answer

$U=\{(1, H),(2, H),(3, H),(4, H), (5, H),(6, H),(1, T),(2, T), (3, T),(4, T),(5, T),(6, T)\}$

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Question 71 Mark

What is meant by analysis of time-series ?

Answer

A detailed study conducted for the time-series is called as the analysis of time-series.

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Question 81 Mark

What are the constants $a$ and $b$ in the regression line $\hat{y}=a+b x$ ?

Answer

In the regresion are, $\hat{y}=a+b x \quad a$ is known as intercept and $b$ is known as slope of regression line or also known as regression coefficient.

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Question 91 Mark

In which situation, the values of Kari Person's correlation Ceefficient and Spearman's rank correlation coefficient are equal ?

Answer

When the values of two variables $X$ and $Y$ are some arrangement of first $n$ natural numbers, the correlation coefficient obtained by Karl Pearson's Method and Spearman's method are equal.

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Question 101 Mark

State the main difference between fixed base method and chain base method.

Answer

In fixed base method, a fixed year is taken as base year where as in chain base method for every current year its preceeding year is taking as a base year.

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