What is the primary advantage of the Weighted Arithmetic Mean over the Simple Arithmetic Mean? MCQ with Answer and Explanation

What is the primary advantage of the Weighted Arithmetic Mean over the Simple Arithmetic Mean?

A. It is easier to calculate

B. It gives appropriate importance to different items based on their significance

C. It ignores extreme values

D. It can be calculated for qualitative data

Answer: Option B

Weighted mean assigns weights proportional to the relative importance of items, providing a more accurate average.

This question belongs to: Accountancy and Statistics Statistics

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Question #1 Report Error

The sex ratio (females per 1000 males) in India according to Census 2011 is:

A. 927

B. 933

C. 940

D. 943

Correct Answer: Option D

Explanation:
India's overall sex ratio in 2011 was 943 females per 1000 males.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

Fisher's ideal index satisfies which tests?

A. Both time reversal and factor reversal tests

B. Circular test

C. Time reversal test only

D. Factor reversal test only

Correct Answer: Option A

Explanation:
Fisher's index is the geometric mean of Laspeyres and Paasche and satisfies both the time reversal and factor reversal tests.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

In an examination, 60% candidates passed in English (A), 50% in Math (B), and 30% in both (AB). Are attributes A and B independent?

A. No, they are positively associated

B. Yes, they are independent

C. No, they are negatively associated

D. Data is inconsistent

Correct Answer: Option B

Explanation:
P(A) * P(B) = 0.6 * 0.5 = 0.3. Since P(AB) = 0.3, they are perfectly independent.

This question belongs to: Accountancy and Statistics Statistics