Which measure of central tendency is most appropriate for finding the typical salary in a company with a few very high earners? MCQ with Answer and Explanation
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Question #1
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The sum of absolute deviations is minimum when taken from:
Correct Answer: Option D
Explanation:
The median minimizes the sum of absolute deviations, Σ|x - M|.
The median minimizes the sum of absolute deviations, Σ|x - M|.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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An index number that does not use weights is called:
Correct Answer: Option A
Explanation:
Simple index numbers give equal importance to all items.
Simple index numbers give equal importance to all items.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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Which characteristic of primary data distinguishes it most fundamentally from secondary data?
Correct Answer: Option D
Explanation:
Primary data is distinguished by its originality and direct relevance, as it is collected firsthand by the investigator for the current study.
Primary data is distinguished by its originality and direct relevance, as it is collected firsthand by the investigator for the current study.
This question belongs to:
Accountancy and Statistics
Statistics
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