Basic Tools Of Economics Analysis Jamb Economics Past Questions
Question 1
The price mechanism
- A. regulates supply and demand
- B. rations the consumers
- C. rewards the producers
- D. allocates scarce resources
- E. does all of the above
Question 2
∑f(x−x̄)N\frac{∑f(x-x̄)}{N}
Is a formula used to calculate for ____________
- A. variance
- B. the quartile
- C. standard deviation
- D. mean deviation
Question 3
If the standard deviation of a given data is 8.2, find its variance_______________
- A. 82.0
- B. 91.8
- C. 67.2
- D. 4.1
Question 4
The mean is the best measure of central tendency because it__________
- A. can be calculated from incomplete data
- B. is a balancing point in an observation
- C. is a midpoint value in an array of data
- D. is not affected by extreme values in a data
Question 5
If the pass mark was 40, how many students passed the examination?
- A. 100
- B. 120
- C. 160
- D. 200
