The geometric mean is most appropriate for averaging: MCQ with Answer and Explanation

The geometric mean is most appropriate for averaging:
A. Income levels
B. Heights
C. Price ratios and growth rates
D. Test scores
Answer: Option C
Solution (By JKExamLibrary)
Geometric mean is suitable for averaging ratios and percentage changes because it accounts for compounding.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error
Two dice are thrown simultaneously. The probability of getting a sum of 7 is:
A. 1/12
B. 1/6
C. 1/36
D. 7/36

Correct Answer: Option B


Explanation:
Favorable outcomes: (1,6), (2,5), (3,4), (4,3), (5,2), (6,1) = 6. Total outcomes = 36. Prob = 6/36 = 1/6.

This question belongs to: Accountancy and Statistics Statistics
Question #2 Report Error
The base year of the Wholesale Price Index (WPI) 2011-12 series was revised in:
A. 2017
B. 2020
C. 2019
D. 2015

Correct Answer: Option A


Explanation:
The new WPI series with base 2011-12 was launched in 2017.

This question belongs to: Accountancy and Statistics Statistics
Question #3 Report Error
The Harmonic Mean of 2 and 4 is:
A. 2.83
B. 3.5
C. 2.67
D. 3

Correct Answer: Option C


Explanation:
HM = 2ab / (a+b) = 2(2)(4) / (2+4) = 16/6 = 2.67.

This question belongs to: Accountancy and Statistics Statistics