1. The results of the MMPI are considered invalid if the scores of the individual are high on the





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MCQ->The results of the MMPI are considered invalid if the scores of the individual are high on the....
MCQ-> Answer questions based on the following information: An automobiles company’s annual sales of its small cars depends on the state of the economy as well as on whether the company uses some high profile individual as its brand ambassador in advertisements of its product. The state of the economy is “good”, “okay” and “bad” with probabilities 0.3, 0.4 and 0.3 respectively. The company may choose a high profile individual as its brand ambassador in TV ads or may go for the TV ads without a high profile brand ambassador. If the company fixes price at Rs. 3.5 lakh, the annual sales of its small cars for different states of the economy and for different kinds of TV ads are summarized in table 1. The figures in the first row are annual sales of the small cars when the company uses a high profile individual as its brand ambassador in its TV ads and the ones in the second row are that when the company does not use any brand ambassador in TV ads, for different states of the economy. Table 1: Without knowing what exactly will be the state of the company in the coming one year, the company will either have to sign a TV ad contract with some high profile individual, who will be the company’s brand ambassador for its small car for the next one year, or go for a TV ad without featuring any high profile individual. It incurs a cost of Rs. 3.45 lakh (excluding the payment to the brand ambassador) to put a car on the road. When the company’s profit is uncertain, the company makes decisions on basis of its expected profit. If the company can earn a profit xi with probability pi (the probability depends on the state of economy), then the expected profit of the company is $$\sum_1XiPi$$The maximum that the company can afford to pay its brand ambassador is
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MCQ-> Question Numbers: (55 to 58)In a square layout of site 5m ~ 5m 25 equal-sized square platforms of different heights are built. The heights (in metre) of individual platforms are as shown below: Individuals (all of same height) are seated on these platforms. We say an individual A can reach individual B, if all the three following conditions are met; (i) A and B are In the same row or column (ii) A is at a lower height than B (iii) If there is/are any individuals (s) between A and B, such individual(s) must be at a height lower than that of A. Thus in the table given above, consider the Individual seated at height 8 on 3rd row and 2nd column. He can be reached by four individuals. He can be reached by the individual on his left at height 7, by the two individuals on his right at heights of 4 and 6 and by the individual above at height 5.  How many individuals in this layout can be reached by just one individual?
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MCQ-> Directions for the following four questions: Answer the questions on the basis of the information given below.Coach John sat with the score cards of Indian players from the 3 games in a one-day cricket tournament where the same set of players played for India and all the major batsmen got out. John summarized the batting performance through three diagrams, one for each games. In each diagram, the three outer triangles communicate the number of runs scored by the three top scores from India, where K, R, S, V, and Y represent Kaif, Rahul, Saurav, Virender, and Yuvraj respectively. The middle triangle in each diagram denotes the percentage of total score that was scored by the top three Indian scorers in that game. No two players score the same number of runs in the same game. John also calculated two batting indices for each player based on his scores in the tournaments; the R-index of a batsman is the difference between his highest and lowest scores in the 3 games while the M-index is the middle number, if his scores are arranged in a non-increasing order.For how many Indian players is it possible to calculate the exact M-index?
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MCQ-> People are continually enticed by such "hot" performance, even if it lasts for brief periods. Because of this susceptibility, brokers or analysts who have had one or two stocks move up sharply, or technicians who call one turn correctly, are believed to have established a credible record and can readily find market followings. Likewise, an advisory service that is right for a brief time can beat its drums loudly. Elaine Garzarelli gained near immortality when she purportedly "called" the 1987 crash. Although, as the market strategist for Shearson Lehman, her forecast was never published in a research report, nor indeed communicated to its clients, she still received widespread recognition and publicity for this call, which was made in a short TV interview on CNBC. Still, her remark on CNBC that the Dow could drop sharply from its then 5300 level rocked an already nervous market on July 23, 1996. What had been a 40-point gain for the Dow turned into a 40-point loss, a good deal of which was attributed to her comments.The truth is, market-letter writers have been wrong in their judgments far more often than they would like to remember. However, advisors understand that the public considers short-term results meaningful when they are, more often than not, simply chance. Those in the public eye usually gain large numbers of new subscribers for being right by random luck. Which brings us to another important probability error that falls under the broad rubric of representativeness. Amos Tversky and Daniel Kahneman call this one the "law of small numbers.". The statistically valid "law of large numbers" states that large samples will usually be highly representative of the population from which they are drawn; for example, public opinion polls are fairly accurate because they draw on large and representative groups. The smaller the sample used, however (or the shorter the record), the more likely the findings are chance rather than meaningful. Yet the Tversky and Kahneman study showed that typical psychological or educational experimenters gamble their research theories on samples so small that the results have a very high probability of being chance. This is the same as gambling on the single good call of an advisor. The psychologists and educators are far too confident in the significance of results based on a few observations or a short period of time, even though they are trained in statistical techniques and are aware of the dangers.Note how readily people over generalize the meaning of a small number of supporting facts. Limited statistical evidence seems to satisfy our intuition no matter how inadequate the depiction of reality. Sometimes the evidence we accept runs to the absurd. A good example of the major overemphasis on small numbers is the almost blind faith investors place in governmental economic releases on employment, industrial production, the consumer price index, the money supply, the leading economic indicators, etc. These statistics frequently trigger major stock- and bond-market reactions, particularly if the news is bad. Flash statistics, more times than not, are near worthless. Initial economic and Fed figures are revised significantly for weeks or months after their release, as new and "better" information flows in. Thus, an increase in the money supply can turn into a decrease, or a large drop in the leading indicators can change to a moderate increase. These revisions occur with such regularity you would think that investors, particularly pros, would treat them with the skepticism they deserve. Alas, the real world refuses to follow the textbooks. Experience notwithstanding, investors treat as gospel all authoritative-sounding releases that they think pinpoint the development of important trends. An example of how instant news threw investors into a tailspin occurred in July of 1996. Preliminary statistics indicated the economy was beginning to gain steam. The flash figures showed that GDP (gross domestic product) would rise at a 3% rate in the next several quarters, a rate higher than expected. Many people, convinced by these statistics that rising interest rates were imminent, bailed out of the stock market that month. To the end of that year, the GDP growth figures had been revised down significantly (unofficially, a minimum of a dozen times, and officially at least twice). The market rocketed ahead to new highs to August l997, but a lot of investors had retreated to the sidelines on the preliminary bad news. The advice of a world champion chess player when asked how to avoid making a bad move. His answer: "Sit on your hands”. But professional investors don't sit on their hands; they dance on tiptoe, ready to flit after the least particle of information as if it were a strongly documented trend. The law of small numbers, in such cases, results in decisions sometimes bordering on the inane. Tversky and Kahneman‘s findings, which have been repeatedly confirmed, are particularly important to our understanding of some stock market errors and lead to another rule that investors should follow.Which statement does not reflect the true essence of the passage? I. Tversky and Kahneman understood that small representative groups bias the research theories to generalize results that can be categorized as meaningful result and people simplify the real impact of passable portray of reality by small number of supporting facts. II. Governmental economic releases on macroeconomic indicators fetch blind faith from investors who appropriately discount these announcements which are ideally reflected in the stock and bond market prices. III. Investors take into consideration myopic gain and make it meaningful investment choice and fail to see it as a chance of occurrence. IV. lrrational overreaction to key regulators expressions is same as intuitive statistician stumbling disastrously when unable to sustain spectacular performance.....
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