In a Laspeyres price index, the weights are: MCQ with Answer and Explanation
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Question #1
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If the arithmetic mean of 10 numbers is 40 and the mean of the same numbers after subtracting a constant from each is 25, the constant subtracted was:
Correct Answer: Option B
Explanation:
New mean = old mean - constant ⇒ 25 = 40 - k ⇒ k = 15.
New mean = old mean - constant ⇒ 25 = 40 - k ⇒ k = 15.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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A bag contains 3 red and 2 blue balls. Two balls are drawn at random without replacement. The probability that both are red is:
Correct Answer: Option A
Explanation:
P(both red) = (3/5) × (2/4) = 6/20 = 3/10. Without replacement, the probability changes after the first draw, requiring multiplication of conditional probabilities.
P(both red) = (3/5) × (2/4) = 6/20 = 3/10. Without replacement, the probability changes after the first draw, requiring multiplication of conditional probabilities.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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Bayes' theorem is used to find:
Correct Answer: Option A
Explanation:
Bayes' theorem updates prior probabilities with new evidence to give posterior probabilities.
Bayes' theorem updates prior probabilities with new evidence to give posterior probabilities.
This question belongs to:
Accountancy and Statistics
Statistics
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