A speaks truth in 60% cases, B in 70% cases. They agree in a statement. The probability that the statement is true is: MCQ with Answer and Explanation

A speaks truth in 60% cases, B in 70% cases. They agree in a statement. The probability that the statement is true is:
A. 0.58
B. 0.50
C. 0.78
D. 0.42
Answer: Option C
Solution (By JKSSB Mock Tests)
Agreement can be both truth or both lie. P(both truth)=0.6×0.7=0.42; both lie=0.4×0.3=0.12. Total agreement=0.54. Probability truth given agreement = 0.42/0.54 ≈ 0.7778.

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Practice More Statistics Questions

Question #1
Fisher's Ideal Index Number is the:
A. Median of Laspeyres and Paasche index numbers
B. Harmonic mean of Laspeyres and Paasche index numbers
C. Geometric mean of Laspeyres and Paasche index numbers
D. Arithmetic mean of Laspeyres and Paasche index numbers

Correct Answer: Option C


Explanation:
Fisher's index is calculated as the geometric mean of Laspeyres and Paasche indices, balancing their upward and downward biases.

This question belongs to: Accountancy and Statistics Statistics
Question #2
Which of the following is true for an ideal index number?
A. It must be a simple average of relatives.
B. It must satisfy time reversal and factor reversal tests.
C. It should be easy to calculate.
D. It should use only base period weights.

Correct Answer: Option B


Explanation:
Fisher's ideal index satisfies both tests; these are desirable properties.

This question belongs to: Accountancy and Statistics Statistics
Question #3
A random variable X takes values 0,1,2 with probabilities 0.3,0.5,0.2. The expected value E(X) is:
A. 1.1
B. 1.0
C. 0.8
D. 0.9

Correct Answer: Option D


Explanation:
E(X) = 0×0.3 + 1×0.5 + 2×0.2 = 0 + 0.5 + 0.4 = 0.9.

This question belongs to: Accountancy and Statistics Statistics