July 2016 - Paper3

11:  

For the following two statements of Assertion (A) and Reasoning (R) indicate the correct code :
Assertion (A) : Gossen’s first law of consumption is invariably applicable in case of individuals’ consumption behaviour.
Reasoning (R) : It serves as an important determinant of demand for the goods and services in the market.
Codes :

A.

Assertion (A) and Reasoning (R) both are correct.

B.

Assertion (A) and Reasoning (R) both are incorrect.

C.

Assertion (A) is correct but Reasoning (R) is incorrect.

D.

Assertion (A) is incorrect but Reasoning (R) is correct.

 
 

Option: D

Explanation :

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12:   Production function for a product is based on certain assumptions. Indicate the correct code from the following :
(a) Complementarity
(b) Substitutability
(c) Product elasticity
(d) Specificity
Codes :
A.

(a) (b) (c)

B.

(b) (c) (d)

C.

(a) (c) (d)

D.

(a) (b) (d)

 
 

Option: D

Explanation :

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13:  

Which one of the following is not the characteristic of normal distribution ?

A.

Mean, median and mode for the normal distribution are equal.

B.
The two tails of the normal curve extend to infinity in both directions but never touch the horizontal axis.
C.

For different values of standard deviation, the height of the mean ordinate remains the same.

D.

The number of independent constraints of normal distribution are N, –X and σ.

 
 

Option: C

Explanation :

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14:  

Which one of the following formulae is used to calculate the standard error of coefficient of correlation between 25 paired observations of a sample ?

A. 21111
B. 21111
C. 21111
D. 21111
 
 

Option: B

Explanation :

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15:  

Read the following statements and choose the correct code :
Statement – I : Non-parametric tests are based on some assumptions about the parent population from which the sample has been drawn.
Statement – II : The standard deviation of the sampling distribution of mean is called standard error of mean.
Codes :

A.

Both statements are true.

B.

Both statements are false.

C.

Statement – I is true while Statement – II is false.

D.

Statement – I is false while Statement – II is true.

 
 

Option: D

Explanation :

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