A fixed base index number series is one where: MCQ with Answer and Explanation

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A fixed base index number series is one where:

A. Only geometric mean is used

B. All periods are compared to a single fixed base period

C. Weights change every period

D. The base period changes every year

Answer: Option B

Solution (By JKSSB Mock Tests)

In fixed base method, a particular year is chosen as base and all other years are compared to it.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

According to Sturges' rule, the approximate number of classes for n = 50 is: (Use k = 1 + 3.322 log₁₀ n)

A. 8

B. 6

C. 7

D. 5

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Correct Answer: Option C

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

Question #2

Assertion (A): The probability of an impossible event is zero. Reason (R): The sample space of an impossible event contains all outcomes.

A. Both A and R are true and R is the correct explanation of A

B. A is false but R is true

C. Both A and R are true but R is NOT the correct explanation of A

D. A is true but R is false

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Correct Answer: Option D

Explanation:
A is true, but R is false because the sample space (or favorable outcomes set) of an impossible event is the empty set (Φ).

This question belongs to: Accountancy and Statistics Statistics

Question #3

If the median of 5, 7, 9, x, 11, 13 is 9.5, then x is:

A. 9

B. 12

C. 10

D. 8

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Correct Answer: Option C

Explanation:
The six values in order: 5,7,9,x,11,13. Median = (9+x)/2 = 9.5 ⇒ x=10.

This question belongs to: Accountancy and Statistics Statistics

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