The factor reversal test requires that the product of a price index and a quantity index should equal: MCQ with Answer and Explanation
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Question #1
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Which of the following is not a vital event?
Correct Answer: Option D
Explanation:
Vital events refer to births, deaths, marriages, and divorces.
Vital events refer to births, deaths, marriages, and divorces.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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In a frequency distribution, if the mean is 50, median is 48, and mode is 45, the distribution is likely:
Correct Answer: Option D
Explanation:
In a positively skewed distribution, mean > median > mode due to the pull of extreme high values; here, 50 > 48 > 45 aligns with this pattern, indicating right-skewness.
In a positively skewed distribution, mean > median > mode due to the pull of extreme high values; here, 50 > 48 > 45 aligns with this pattern, indicating right-skewness.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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Tabulation should ideally present data in a way that:
Correct Answer: Option D
Explanation:
Effective tabulation organizes data clearly with appropriate headings, totals, and formatting to enable easy comparison, trend identification, and accurate interpretation by users.
Effective tabulation organizes data clearly with appropriate headings, totals, and formatting to enable easy comparison, trend identification, and accurate interpretation by users.
This question belongs to:
Accountancy and Statistics
Statistics
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