Bayes' theorem is used to compute: MCQ with Answer and Explanation

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Bayes' theorem is used to compute:

A. Marginal probability only

B. Prior probability

C. Posterior probability

D. Expected value

Answer: Option C

Solution (By JKExamLibrary)

Bayes' theorem updates probabilities after observing evidence, giving posterior probabilities.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error

Dorbish and Bowley's price index is the:

A. Geometric mean of Laspeyres and Paasche

B. Harmonic mean of Laspeyres and Paasche

C. Difference between Laspeyres and Paasche

D. Arithmetic mean of Laspeyres and Paasche

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Correct Answer: Option D

Explanation:
Dorbish-Bowley index averages the Laspeyres and Paasche formulas using a simple arithmetic mean: (L + P) / 2.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

The time reversal test is satisfied by which of the following weighted index formulas?

A. Fisher

B. Paasche

C. Both A and C

D. Laspeyres

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Correct Answer: Option A

Explanation:
Only Fisher's index satisfies time reversal; L and P do not.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

The population pyramid of a developing country typically has:

A. Rectangular shape

B. Equal width throughout

C. Narrow base and wide top

D. Broad base and narrow top

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Correct Answer: Option D

Explanation:
High fertility creates a broad base, while higher mortality at old ages narrows the top.

This question belongs to: Accountancy and Statistics Statistics

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