Given P(A)=0.7, P(B)=0.5, and P(A∩B)=0.45. Which statement is correct? MCQ with Answer and Explanation
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Question #1
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In demography, 'cohort' refers to:
Correct Answer: Option A
Explanation:
A cohort is a group sharing a common temporal experience, like birth year.
A cohort is a group sharing a common temporal experience, like birth year.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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Which index number test checks if P₀₁ × P₁₂ × P₂₀ = 1?
Correct Answer: Option A
Explanation:
The circular test verifies consistency across three periods: the product of indices linking 0→1, 1→2, and 2→0 should equal 1 (or 100³ in percentage terms), ensuring transitivity in comparisons.
The circular test verifies consistency across three periods: the product of indices linking 0→1, 1→2, and 2→0 should equal 1 (or 100³ in percentage terms), ensuring transitivity in comparisons.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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Consumer Price Index (CPI) includes which of the following that WPI typically excludes?
Correct Answer: Option A
Explanation:
CPI covers a broader basket including consumer services (healthcare, education, transport), while WPI focuses mainly on goods, making CPI more comprehensive for cost-of-living assessment.
CPI covers a broader basket including consumer services (healthcare, education, transport), while WPI focuses mainly on goods, making CPI more comprehensive for cost-of-living assessment.
This question belongs to:
Accountancy and Statistics
Statistics
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