If the sum of 20 observations is 400, what is the Arithmetic Mean? MCQ with Answer and Explanation

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If the sum of 20 observations is 400, what is the Arithmetic Mean?

A. 10

B. 200

C. 40

D. 20

Answer: Option D

Solution (By JKExamLibrary)

Mean = Sum of observations / Number of observations = 400 / 20 = 20.

This question belongs to: Accountancy and Statistics Statistics

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The formula for a simple aggregative price index is:

A. √(L×P) × 100

B. (Σp₁ / Σp₀) × 100

C. (Σp₁q₁ / Σp₀q₁) × 100

D. (Σp₁q₀ / Σp₀q₀) × 100

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Correct Answer: Option B

Explanation:
Simple aggregative index sums prices without weights.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

The chain base index number is calculated by:

A. Applying Fisher's formula

B. Linking fixed base index numbers

C. Taking average of Laspeyres and Paasche

D. Using link relatives and chaining them

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Correct Answer: Option D

Explanation:
Chain indices are built by multiplying link relatives (current period relative to previous period).

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

In constructing a frequency distribution with exclusive class intervals, the upper limit of one class is:

A. Included in that class

B. Ignored in frequency counting

C. Always equal to the lower limit of the next class

D. Excluded from that class and included in the next higher class

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Correct Answer: Option D

Explanation:
In exclusive class intervals, the upper limit is not included in the class; observations equal to the upper limit are counted in the next higher class to avoid overlap and ensure mutual exclusivity.

This question belongs to: Accountancy and Statistics Statistics

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