Data collected for the first time by an investigator for a specific purpose is called: MCQ with Answer and Explanation

Data collected for the first time by an investigator for a specific purpose is called:

A. Compiled data

B. Primary data

C. Published data

D. Secondary data

Answer: Option B

Primary data is original data collected fresh for a particular research objective.

This question belongs to: Accountancy and Statistics Statistics

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Question #1 Report Error

In Fisher's ideal index, which mean is used to combine Laspeyres and Paasche indices?

A. Arithmetic mean

B. Geometric mean

C. Harmonic mean

D. Median

Correct Answer: Option B

Explanation:
Fisher's ideal index is the geometric mean of the Laspeyres and Paasche indices.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

Harmonic mean is undefined if:

A. Data are continuous

B. Any observation is zero

C. Data are discrete

D. All observations are positive

Correct Answer: Option B

Explanation:
Reciprocals of zero are infinite, making HM undefined.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

If the sum of 20 observations is 400, what is the Arithmetic Mean?

A. 200

B. 40

C. 20

D. 10

Correct Answer: Option C

Explanation:
Mean = Sum of observations / Number of observations = 400 / 20 = 20.

This question belongs to: Accountancy and Statistics Statistics