What happens to the Variance of a dataset if each observation is multiplied by a constant 'k'? MCQ with Answer and Explanation
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Question #1
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Paasche price index is represented by:
Correct Answer: Option D
Explanation:
Paasche uses current period quantities: Σp₁q₁ / Σp₀q₁ × 100.
Paasche uses current period quantities: Σp₁q₁ / Σp₀q₁ × 100.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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The geometric mean of a set of 5 positive observations is 6. Four of them are 3, 6, 4, and 9. The fifth observation is:
Correct Answer: Option A
Explanation:
G.M.^5 = 6^5 = 7776. Product of known four = 3*6*4*9 = 648. Fifth = 7776/648 = 12.
G.M.^5 = 6^5 = 7776. Product of known four = 3*6*4*9 = 648. Fifth = 7776/648 = 12.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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Consumer Price Index (CPI) combines prices of goods and services based on:
Correct Answer: Option A
Explanation:
CPI weights items according to their share in average household consumption expenditure, derived from consumer expenditure surveys, to reflect the cost of living for typical families.
CPI weights items according to their share in average household consumption expenditure, derived from consumer expenditure surveys, to reflect the cost of living for typical families.
This question belongs to:
Accountancy and Statistics
Statistics
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