Which of the following best defines primary data? MCQ with Answer and Explanation

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Which of the following best defines primary data?

A. Data obtained from previously published sources

B. Data collected through secondary sources like journals and reports

C. Data that has been analyzed and interpreted by another researcher

D. Data collected by an investigator for the first time for a specific purpose

Answer: Option D

Solution (By JKExamLibrary)

Primary data is original data collected firsthand by the investigator specifically for the current research purpose, distinguishing it from secondary data which is pre-existing.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error

If a die is rolled, the sample space is:

A. {1,2,3,4,5}

B. {2,4,6}

C. {1,2,3,4,5,6}

D. {0,1,2,3,4,5,6}

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Correct Answer: Option C

Explanation:
A fair die has six possible outcomes: 1,2,3,4,5,6.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

If the mean of a distribution is 30 and the mode is 24, the distribution is:

A. Negatively skewed

B. Platykurtic

C. Symmetric

D. Positively skewed

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Correct Answer: Option D

Explanation:
Mean > Mode implies positive skewness.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

The Paasche index is weighted by:

A. Base period prices

B. Current period quantities

C. Fixed weights

D. Base period quantities

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Correct Answer: Option B

Explanation:
Paasche price index uses current quantities as weights.

This question belongs to: Accountancy and Statistics Statistics

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