Vital statistics are essential for calculating which of the following? MCQ with Answer and Explanation
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Question #1
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If the price index is 125 and the quantity index is 120, the value index is:
Correct Answer: Option B
Explanation:
Value ratio = price ratio × quantity ratio. In index form (decimal), 1.25 × 1.20 = 1.50, i.e., 150.
Value ratio = price ratio × quantity ratio. In index form (decimal), 1.25 × 1.20 = 1.50, i.e., 150.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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The probability of getting at least one head in two tosses of a fair coin is:
Correct Answer: Option A
Explanation:
P(at least one head) = 1 - P(no heads) = 1 - P(TT) = 1 - 1/4 = 3/4. Alternatively, favorable outcomes: HH, HT, TH (3 out of 4), so 3/4.
P(at least one head) = 1 - P(no heads) = 1 - P(TT) = 1 - 1/4 = 3/4. Alternatively, favorable outcomes: HH, HT, TH (3 out of 4), so 3/4.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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For a continuous variable, which graph is most suitable?
Correct Answer: Option A
Explanation:
Histogram represents continuous grouped data.
Histogram represents continuous grouped data.
This question belongs to:
Accountancy and Statistics
Statistics
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