The Family Budget Method for calculating the Consumer Price Index is equivalent to: MCQ with Answer and Explanation
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Question #1
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The number of observations falling in a particular class is called:
Correct Answer: Option A
Explanation:
Class frequency is the count of data points within a class interval.
Class frequency is the count of data points within a class interval.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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The harmonic mean of 2 and 6 is:
Correct Answer: Option A
Explanation:
HM = 2 / (1/2 + 1/6) = 2 / (4/6) = 3.
HM = 2 / (1/2 + 1/6) = 2 / (4/6) = 3.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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If P(A) = 0.4, P(B) = 0.5, and A and B are independent events, what is P(A ∪ B)?
Correct Answer: Option B
Explanation:
For independent events, P(A ∩ B) = 0.4 × 0.5 = 0.2. Using the addition theorem: P(A ∪ B) = 0.4 + 0.5 - 0.2 = 0.7.
For independent events, P(A ∩ B) = 0.4 × 0.5 = 0.2. Using the addition theorem: P(A ∪ B) = 0.4 + 0.5 - 0.2 = 0.7.
This question belongs to:
Accountancy and Statistics
Statistics
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