If the median of a data set is 50, it indicates that: MCQ with Answer and Explanation

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If the median of a data set is 50, it indicates that:

A. The average value is 50

B. All values are 50

C. 50% of the values are less than or equal to 50

D. 50 is the most frequent value

Answer: Option C

Solution (By JKExamLibrary)

Median is the 50th percentile, dividing the data into two halves.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error

For a moderately skewed distribution, the difference between mean and mode is approximately:

A. 2 (Mean - Median)

B. 2 (Median - Mean)

C. 3 (Mean - Median)

D. 3 (Median - Mean)

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Correct Answer: Option C

Explanation:
From empirical relation: Mean - Mode ≈ 3(Mean - Median).

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

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.

A. Rs. 15,000

B. Rs. 11,500

C. Rs. 10,000

D. Rs. 12,500

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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.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

For perfect positive association between attributes A and B, we expect:

A. (Aβ) = 0

B. (AB) = 0

C. Both (Aβ) and (αB) = 0

D. (αB) = 0

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Correct Answer: Option C

Explanation:
Perfect positive association means all A's are B's and all B's are A's, so no A without B and no B without A.

This question belongs to: Accountancy and Statistics Statistics

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