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

Question

Share Report Error

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. The base period changes every year

D. Weights change every period

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

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Statistics Questions

Question #1

The weighted mean is used when:

A. Data are symmetric

B. All items have the same importance

C. Different items have different degrees of importance

D. Data are qualitative

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
Weights reflect relative importance of each item.

This question belongs to: Accountancy and Statistics Statistics

Question #2

The data (A)=100, (AB)=120 is:

A. Consistent

B. Complete association

C. Inconsistent

D. Independence

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option C

Explanation:
(AB) cannot exceed (A); thus data are inconsistent.

This question belongs to: Accountancy and Statistics Statistics

Question #3

Bayes' theorem is used to find:

A. Complementary probability

B. Joint probability

C. Unconditional probability

D. Posterior probability

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Bayes' theorem updates prior probabilities with new evidence to give posterior probabilities.

This question belongs to: Accountancy and Statistics Statistics

Explore All Statistics MCQs