Base shifting of an index number series is done to: MCQ with Answer and Explanation
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Question #1
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The combined mean of two groups with n₁=20, mean₁=50 and n₂=30, mean₂=60 is:
Correct Answer: Option C
Explanation:
Combined mean = (20×50 + 30×60) / (20+30) = (1000+1800)/50 = 2800/50 = 56.
Combined mean = (20×50 + 30×60) / (20+30) = (1000+1800)/50 = 2800/50 = 56.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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If the price index is 125 and the quantity index is 120, the value index is:
Correct Answer: Option A
Explanation:
Value ratio = price ratio × quantity ratio. In index form (decimal), 1.25 × 1.20 = 1.50, i.e., 150.
Value ratio = price ratio × quantity ratio. In index form (decimal), 1.25 × 1.20 = 1.50, i.e., 150.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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In Bayes' theorem, P(A|B) is called:
Correct Answer: Option A
Explanation:
P(A|B) updates prior using evidence, giving posterior.
P(A|B) updates prior using evidence, giving posterior.
This question belongs to:
Accountancy and Statistics
Statistics
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