If GRR is 1.2, it means: MCQ with Answer and Explanation
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Question #1
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The time reversal test checks whether an index number yields consistent results when:
Correct Answer: Option D
Explanation:
The product of the forward and backward indices should be 1.
The product of the forward and backward indices should be 1.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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The primary purpose of the Consumer Price Index (CPI) is to measure:
Correct Answer: Option A
Explanation:
CPI tracks the average price change over time for a representative basket of goods and services purchased by households, serving as the main gauge of consumer inflation.
CPI tracks the average price change over time for a representative basket of goods and services purchased by households, serving as the main gauge of consumer inflation.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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Which measure of central tendency is undefined for data containing zero?
Correct Answer: Option C
Explanation:
Harmonic mean involves reciprocals; if any value is zero, reciprocal is infinite, so it's undefined.
Harmonic mean involves reciprocals; if any value is zero, reciprocal is infinite, so it's undefined.
This question belongs to:
Accountancy and Statistics
Statistics
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