Geometric mean is most appropriate for averaging: MCQ with Answer and Explanation
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Question #1
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The combined mean of two groups with means 40 (size 10) and 60 (size 20) is:
Correct Answer: Option D
Explanation:
Combined mean = (10×40 + 20×60) / (10+20) = (400 + 1200) / 30 = 1600 / 30 ≈ 53.33. This weights each group's mean by its sample size.
Combined mean = (10×40 + 20×60) / (10+20) = (400 + 1200) / 30 = 1600 / 30 ≈ 53.33. This weights each group's mean by its sample size.
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Accountancy and Statistics
Statistics
Question #2
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In a continuous frequency distribution, the class interval '10-20' means the class includes:
Correct Answer: Option C
Explanation:
In standard exclusive class intervals, the lower limit is included, but the upper limit is excluded and falls into the next class.
In standard exclusive class intervals, the lower limit is included, but the upper limit is excluded and falls into the next class.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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The cost of living index number for 2022 with base 2015 is 150. This implies that a household which spent Rs. 10,000 per month in 2015 needs to spend ______ in 2022 to maintain the same standard of living.
Correct Answer: Option A
Explanation:
Cost of Living Index 150 means the cost has increased by 50%, so new cost = 10,000 × 1.5 = 15,000.
Cost of Living Index 150 means the cost has increased by 50%, so new cost = 10,000 × 1.5 = 15,000.
This question belongs to:
Accountancy and Statistics
Statistics
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