The class midpoint is also known as: MCQ with Answer and Explanation

The class midpoint is also known as:

A. Class mark

B. Class limit

C. Class frequency

D. Class interval

Answer: Option A

Class mark = (lower limit + upper limit)/2.

This question belongs to: Accountancy and Statistics Statistics

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Question #1 Report Error

Yule's coefficient of association (Q) ranges between:

A. 0 and 1

B. -1 and +1

C. 0 and 100

D. -∞ and +∞

Correct Answer: Option B

Explanation:
Q = (ad - bc) / (ad + bc) lies between -1 and +1.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

Which is a difference between primary and secondary data?

A. Primary data requires less time

B. Primary data is cheaper than secondary data

C. Secondary data is more reliable always

D. Primary data is collected for the specific purpose at hand

Correct Answer: Option D

Explanation:
Primary data is gathered specifically for the study, while secondary data was collected for some other purpose.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

Paasche's Price Index uses:

A. Fixed arbitrary weights

B. Current year quantities as weights

C. Base year quantities as weights

D. Average of base and current year quantities

Correct Answer: Option B

Explanation:
Paasche uses current year quantities, which makes it reflective of current consumption patterns but suffers from downward bias.

This question belongs to: Accountancy and Statistics Statistics