If P(A)=0.7, P(B)=0.6, and the maximum possible value of P(A∩B) is 0.6, then the minimum possible value of P(A∪B) is: MCQ with Answer and Explanation
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Question #1
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Which is a difference between primary and secondary data?
Correct Answer: Option D
Explanation:
Primary data is gathered specifically for the study, while secondary data was collected for some other purpose.
Primary data is gathered specifically for the study, while secondary data was collected for some other purpose.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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Which formula fails the Factor Reversal Test?
Correct Answer: Option C
Explanation:
Only Fisher's Ideal Index satisfies both the Time Reversal and Factor Reversal Tests; Laspeyres and Marshall-Edgeworth fail the factor test.
Only Fisher's Ideal Index satisfies both the Time Reversal and Factor Reversal Tests; Laspeyres and Marshall-Edgeworth fail the factor test.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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Which data collection method has the lowest response rate generally?
Correct Answer: Option B
Explanation:
Mailed questionnaires suffer from high non-response as respondents often ignore or forget to return them.
Mailed questionnaires suffer from high non-response as respondents often ignore or forget to return them.
This question belongs to:
Accountancy and Statistics
Statistics
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