Basic Tools - Jamb Economics Past Questions and Answers

Question 41:

• JAMB 2010

if \(\bar{x}\) = 6 and N = 6, determine the value of ∑fx

A. 36
B. 12
C. 1
D. 72

Question 42:

• JAMB 2011

A major disadvantage of the arithmetic means is that it is

A. Not useful for large data
B. Not suitable for further statistical analysis
C. Cumbersome to determine the actual value
D. Affected by extreme data

Question 43:

• JAMB 2011

The graph of the schedule above will depict

A. A kinked demand curve
B. A normal demand curve
C. An abnormal demand curve
D. A diminishing marginal utility curve

Question 44:

• JAMB 2011

The median of an odd-numbered set of scores is the

A. Middle value in the set
B. Highest value in the set
C. Arithmetic means of the set
D. Most frequent occuring score

Question 45:

• JAMB 2012

The sign of the slope of a graph in economic analysis is important because it

A. Shows whether a good is normal or inferior
B. Shows the relationship between variables
C. Reveals the magnitude of the change between variables
D. Helps to determine the unit of measurement of variables