Primary data is collected: MCQ with Answer and Explanation

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Primary data is collected:

A. From published sources

B. From old records

C. By the investigator for the first time for a specific purpose

D. From government reports

Answer: Option C

Solution (By JKExamLibrary)

Primary data is original data gathered directly by the researcher for the current study.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error

Bayes' theorem is a formula to calculate:

A. Union of events

B. Reverse conditional probability (posterior)

C. Unconditional probability

D. Intersection of independent events

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Correct Answer: Option B

Explanation:
Bayes' theorem calculates the posterior probability of a cause given the observed effect, effectively reversing the conditional direction.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

If attributes A and B are independent, the expected frequency of (αβ) is:

A. Observed (αβ)

B. (α)×(β)/N

C. (α)×(β)/N²

D. (A)×(B)/N

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Correct Answer: Option B

Explanation:
Under independence, each cell frequency equals product of margins divided by N.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

If the price index for 2020 with base 2015 is 125, and for 2025 with base 2020 is 120, the index for 2025 with base 2015 using chain method is:

A. 150

B. 140

C. 145

D. 125 × 1.2 = 150

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Correct Answer: Option D

Explanation:
Chain index = 125 × (120/100) = 125 × 1.2 = 150.

This question belongs to: Accountancy and Statistics Statistics

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