The index number that uses the geometric mean of price relatives with base year value weights is: MCQ with Answer and Explanation
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Question #1
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Classification of population by religion is an example of:
Correct Answer: Option C
Explanation:
Religion is an attribute, so grouping by it is qualitative classification.
Religion is an attribute, so grouping by it is qualitative classification.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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Cost of Living Index adjustments are most relevant for:
Correct Answer: Option C
Explanation:
Cost of Living Indices inform wage indexation, pension adjustments, and welfare benefits to maintain purchasing power amid inflation, directly impacting household economic security.
Cost of Living Indices inform wage indexation, pension adjustments, and welfare benefits to maintain purchasing power amid inflation, directly impacting household economic security.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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If P(A)=0.4, P(A∪B)=0.7, then the probability of B will be maximum when A and B are:
Correct Answer: Option D
Explanation:
P(A∪B)=P(A)+P(B)-P(A∩B). To maximize P(B) given P(A∪B)=0.7 and P(A)=0.4, set P(A∩B)=P(A)=0.4 (i.e., A⊂B). Then 0.7=0.4+P(B)-0.4 => P(B)=0.7 max.
P(A∪B)=P(A)+P(B)-P(A∩B). To maximize P(B) given P(A∪B)=0.7 and P(A)=0.4, set P(A∩B)=P(A)=0.4 (i.e., A⊂B). Then 0.7=0.4+P(B)-0.4 => P(B)=0.7 max.
This question belongs to:
Accountancy and Statistics
Statistics
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