Chain base index numbers are constructed using: MCQ with Answer and Explanation
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Question #1
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In a moderately skewed distribution, if the mean is 45 and the mode is 39, the median is approximately:
Correct Answer: Option D
Explanation:
Using the empirical relationship: Mode ≈ 3×Median - 2×Mean. Rearranging: Median ≈ (Mode + 2×Mean)/3 = (39 + 90)/3 = 129/3 = 43. This approximation holds for moderately skewed unimodal distributions.
Using the empirical relationship: Mode ≈ 3×Median - 2×Mean. Rearranging: Median ≈ (Mode + 2×Mean)/3 = (39 + 90)/3 = 129/3 = 43. This approximation holds for moderately skewed unimodal distributions.
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Accountancy and Statistics
Statistics
Question #2
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The weighted arithmetic mean is calculated as:
Correct Answer: Option D
Explanation:
Weighted mean = sum of (value × weight) divided by sum of weights, allowing differential importance of observations, e.g., in index numbers or survey sampling.
Weighted mean = sum of (value × weight) divided by sum of weights, allowing differential importance of observations, e.g., in index numbers or survey sampling.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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If every observation in a dataset is doubled, the arithmetic mean:
Correct Answer: Option D
Explanation:
Mean is affected by change of scale; multiplying by 2 scales the mean by 2.
Mean is affected by change of scale; multiplying by 2 scales the mean by 2.
This question belongs to:
Accountancy and Statistics
Statistics
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