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Question #1
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Bayes' theorem is expressed as P(A|B) = [P(B|A) × P(A)] / P(B). Here, P(A) is called the:
Correct Answer: Option B
Explanation:
In Bayesian inference, P(A) is the prior probability, representing initial belief about hypothesis A before observing evidence B; P(A|B) is the updated posterior probability.
In Bayesian inference, P(A) is the prior probability, representing initial belief about hypothesis A before observing evidence B; P(A|B) is the updated posterior probability.
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Accountancy and Statistics
Statistics
Question #2
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A sample space has 6 equally likely outcomes. The probability of an event with 2 outcomes is:
Correct Answer: Option B
Explanation:
P = 2/6 = 1/3.
P = 2/6 = 1/3.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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Paasche price index is calculated as:
Correct Answer: Option A
Explanation:
Paasche index = Σ(p₁q₁)/Σ(p₀q₁) × 100, using current period quantities (q₁) as weights, which may understate inflation due to substitution effects but reflects current consumption patterns.
Paasche index = Σ(p₁q₁)/Σ(p₀q₁) × 100, using current period quantities (q₁) as weights, which may understate inflation due to substitution effects but reflects current consumption patterns.
This question belongs to:
Accountancy and Statistics
Statistics
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