For a set of values, the sum of squared deviations is minimum when taken from: MCQ with Answer and Explanation

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For a set of values, the sum of squared deviations is minimum when taken from:

A. Geometric mean

B. Median

C. Mode

D. Arithmetic mean

Answer: Option D

Solution (By JKExamLibrary)

The arithmetic mean minimizes the sum of squared deviations.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error

An ogive is a graph of:

A. Frequency vs class midpoints

B. Cumulative frequency against lower class boundaries

C. Frequency against lower limits

D. Cumulative frequency against upper class boundaries

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Correct Answer: Option D

Explanation:
A 'less than' ogive plots cumulative frequency against the upper class boundaries.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

If a coin is tossed 3 times, probability of exactly 2 heads is:

A. 1/4

B. 1/2

C. 5/8

D. 3/8

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Correct Answer: Option D

Explanation:
Favorable: HHT, HTH, THH → 3 out of 8.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

If Σp₁q₀ = 720 and Σp₀q₀ = 600, the Laspeyres price index is:

A. 83.33

B. 120

C. 60

D. 1200

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Correct Answer: Option B

Explanation:
P_L = 720/600 × 100 = 120.

This question belongs to: Accountancy and Statistics Statistics

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