If the price index for 2021 (base 2020) is 110 and for 2022 (base 2021) is 105, the chain index for 2022 with base 2020 is: MCQ with Answer and Explanation

If the price index for 2021 (base 2020) is 110 and for 2022 (base 2021) is 105, the chain index for 2022 with base 2020 is:

A. 115.0

B. 105.0

C. 115.5

D. 110.0

Answer: Option C

Chain index = 110 × (105/100) = 115.5.

This question belongs to: Accountancy and Statistics Statistics

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Question #1 Report Error

The sum of absolute deviations is minimized by:

A. Median

B. Mean

C. Geometric mean

D. Mode

Correct Answer: Option A

Explanation:
Median minimizes Σ |x - M|.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

Census of India 2011 was the:

A. 16th census

B. 13th census

C. 14th census

D. 15th census

Correct Answer: Option D

Explanation:
Since the first synchronous census in 1881, the 2011 census was the 15th decennial census.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

The sum of deviations of all values from the median is minimized when measured in:

A. Cubed deviations

B. Squared deviations

C. Relative deviations

D. Absolute deviations

Correct Answer: Option D

Explanation:
Median minimizes sum of absolute deviations.

This question belongs to: Accountancy and Statistics Statistics