NECO Economics Past Questions & Answers - Page 23

111.

The variance of a given set of numbers is defined as the

A.

Absolute value of the standard deviation

B.

Square of the standard deviation

C.

Square root of the standard deviation

D.

Square root of the standard deviation

E.

Square root of the mean deviation

Correct answer is B

No explanation has been provided for this answer.

112.

When the total product starts falling, then the marginal product is

A.

Constant

B.

Increasing

C.

Maximum

D.

Negative

E.

Zero

Correct answer is D

No explanation has been provided for this answer.

113.

The formular (N + 1)/2 is used to determine the

A.

Mean

B.

Median

C.

Mode

D.

Standard deviation

E.

Mean deviation

Correct answer is B

No explanation has been provided for this answer.

114.

The recent revolution of Cassava from ordinary food crop to export crop will lead to

A.

Decrease in price of cassava flour

B.

Decrease in production of cassava

C.

Decrease in production of local starch

D.

Increase in production of other crops

E.

Increase in the prices of cassava products

Correct answer is E

No explanation has been provided for this answer.

115.

If the standard deviation of a set of numbers is 3.6, what is the variance?

A.

12.49

B.

12.69

C.

12.9

D.

12.96

E.

12.98

Correct answer is D

No explanation has been provided for this answer.