Secondary data is characterized by which of the following? MCQ with Answer and Explanation

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Secondary data is characterized by which of the following?

A. It was originally collected by someone else for a different purpose

B. It is collected by the investigator for the first time

C. It requires more time and resources to collect than primary data

D. It is always more accurate than primary data

Answer: Option A

Solution (By JKExamLibrary)

Secondary data refers to information that was previously gathered by another party for a different objective and is now being reused for a new study.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error

Life expectancy at birth is calculated using:

A. Crude death rate only

B. Infant mortality rate

C. Age-specific death rates in a life table

D. Fertility rates

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Correct Answer: Option C

Explanation:
Life expectancy is derived from a life table that uses age-specific death rates to compute survival probabilities and average remaining lifetime for a hypothetical cohort.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

The time reversal test checks whether an index number yields consistent results when:

A. Weights are changed

B. Units are changed

C. The formula is applied to different data

D. The base and current periods are reversed

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Correct Answer: Option D

Explanation:
The product of the forward and backward indices should be 1.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

In a standard deck, the probability of drawing a red king is:

A. 2/13

B. 1/52

C. 1/26

D. 1/13

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Correct Answer: Option C

Explanation:
2 red kings (hearts and diamonds) out of 52 = 2/52 = 1/26.

This question belongs to: Accountancy and Statistics Statistics

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