In a frequency distribution, the class width is 8, and the mid-value of a class is 42. The lower limit of that class is: MCQ with Answer and Explanation

In a frequency distribution, the class width is 8, and the mid-value of a class is 42. The lower limit of that class is:

A. 36

B. 40

C. 34

D. 38

Answer: Option D

Lower limit = mid-value - width/2 = 42 - 4 = 38.

This question belongs to: Accountancy and Statistics Statistics

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Question #1 Report Error

In a binomial distribution with n=4 and p=1/2, the probability of exactly 2 successes is:

A. 1/16

B. 1/2

C. 3/8

D. 1/4

Correct Answer: Option C

Explanation:
C(4,2)×(1/2)^2×(1/2)^2 = 6×1/4×1/4=6/16=3/8.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

The sum of absolute deviations is minimum when taken from:

A. Geometric mean

B. Arithmetic mean

C. Median

D. Mode

Correct Answer: Option C

Explanation:
The median minimizes the sum of absolute deviations, Σ|x - M|.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

The base year of the Wholesale Price Index (WPI) 2011-12 series was revised in:

A. 2015

B. 2020

C. 2017

D. 2019

Correct Answer: Option C

Explanation:
The new WPI series with base 2011-12 was launched in 2017.

This question belongs to: Accountancy and Statistics Statistics