Consumer Price Index (CPI) is the preferred measure for adjusting: MCQ with Answer and Explanation
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Question #1
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Which of the following is NOT a test of index numbers?
Correct Answer: Option B
Explanation:
Common tests are time reversal, factor reversal, and circular test. 'Mean test' is not standard.
Common tests are time reversal, factor reversal, and circular test. 'Mean test' is not standard.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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If two events A and B are independent, the probability that both occur is 0.2 and P(A)=0.5, then P(B) is:
Correct Answer: Option B
Explanation:
P(A)P(B)=0.2 => 0.5×P(B)=0.2 => P(B)=0.4.
P(A)P(B)=0.2 => 0.5×P(B)=0.2 => P(B)=0.4.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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Which data collection method has the lowest response rate generally?
Correct Answer: Option B
Explanation:
Mailed questionnaires suffer from high non-response as respondents often ignore or forget to return them.
Mailed questionnaires suffer from high non-response as respondents often ignore or forget to return them.
This question belongs to:
Accountancy and Statistics
Statistics
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