Which is a difference between primary and secondary data? MCQ with Answer and Explanation

Which is a difference between primary and secondary data?
A. Secondary data is more reliable always
B. Primary data requires less time
C. Primary data is cheaper than secondary data
D. Primary data is collected for the specific purpose at hand
Answer: Option D
Solution (By JKExamLibrary)
Primary data is gathered specifically for the study, while secondary data was collected for some other purpose.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error
Life expectancy at age 65 being higher than at birth indicates:
A. Migration of elderly into the population
B. High infant and child mortality pulling down life expectancy at birth
C. Data error in life table construction
D. Improving healthcare for the elderly

Correct Answer: Option B


Explanation:
Life expectancy at birth is heavily influenced by early-life mortality; if many children die young, e₀ is low, but those surviving to 65 have already passed high-risk ages, so e₆₅ is naturally higher.

This question belongs to: Accountancy and Statistics Statistics
Question #2 Report Error
The mean of 15 observations is 40. It was found that an observation 23 was wrongly recorded as 32. The correct mean is:
A. 41.2
B. 39.4
C. 40.6
D. 38.5

Correct Answer: Option B


Explanation:
Correct sum = 15 × 40 - 32 + 23 = 600 - 9 = 591. Correct mean = 591/15 = 39.4.

This question belongs to: Accountancy and Statistics Statistics
Question #3 Report Error
According to Sturges' rule, the approximate number of classes for n = 50 is: (Use k = 1 + 3.322 log₁₀ n)
A. 6
B. 7
C. 5
D. 8

Correct Answer: Option B


Explanation:
log₁₀50 ≈ 1.699; 3.322 × 1.699 ≈ 5.64; 1 + 5.64 = 6.64, which rounds to 7 classes.

This question belongs to: Accountancy and Statistics Statistics