The Fisher index is the geometric mean of Laspeyres and Paasche. This ensures it satisfies: MCQ with Answer and Explanation

The Fisher index is the geometric mean of Laspeyres and Paasche. This ensures it satisfies:

A. Only time reversal test

B. None of the tests

C. Only factor reversal test

D. Both tests

Answer: Option D

Fisher is designed to meet both tests.

This question belongs to: Accountancy and Statistics Statistics

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Question #1 Report Error

For a moderately skewed distribution, the difference between mean and mode is approximately:

A. 2 (Mean - Median)

B. 3 (Median - Mean)

C. 2 (Median - Mean)

D. 3 (Mean - Median)

Correct Answer: Option D

Explanation:
From empirical relation: Mean - Mode ≈ 3(Mean - Median).

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

Which of the following pairs are mutually exclusive?

A. Drawing a heart and a queen from a deck

B. Getting a 4 and an even number on a die

C. Getting a head and a tail in a single coin toss

D. Getting an even number and a prime number on a die

Correct Answer: Option C

Explanation:
Head and tail cannot occur simultaneously in one toss.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

The ‘footnote’ of a statistical table is used to:

A. State the source of data

B. List the units of measurement

C. Give the title of the table

D. Provide additional explanation or clarification about specific items

Correct Answer: Option D

Explanation:
Footnotes clarify specific cells or data points; the source is typically given separately, and the title is at the top.

This question belongs to: Accountancy and Statistics Statistics