Which of the following is a merit of secondary data? MCQ with Answer and Explanation
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Question #1
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Combined mean formula is essential when:
Correct Answer: Option A
Explanation:
Combined mean = (n₁x̄₁ + n₂x̄₂) / (n₁ + n₂) weights each group's mean by its size, providing the correct overall mean when aggregating subgroup statistics.
Combined mean = (n₁x̄₁ + n₂x̄₂) / (n₁ + n₂) weights each group's mean by its size, providing the correct overall mean when aggregating subgroup statistics.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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If the CPI increased from 150 to 165 over a year, the inflation rate based on CPI is:
Correct Answer: Option D
Explanation:
Inflation rate = [(New CPI - Old CPI) / Old CPI] × 100 = (165 - 150)/150 × 100 = 15/150 × 100 = 10%. This measures the percentage increase in the price level.
Inflation rate = [(New CPI - Old CPI) / Old CPI] × 100 = (165 - 150)/150 × 100 = 15/150 × 100 = 10%. This measures the percentage increase in the price level.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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Standardized Death Rate allows comparison of mortality between Population X and Y by:
Correct Answer: Option B
Explanation:
Standardization removes age structure effects by calculating what each population's death rate would be if it had the same age distribution as a standard population, enabling fair comparison of underlying mortality risks.
Standardization removes age structure effects by calculating what each population's death rate would be if it had the same age distribution as a standard population, enabling fair comparison of underlying mortality risks.
This question belongs to:
Accountancy and Statistics
Statistics
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