An index number that measures changes in the quantity of goods produced is: MCQ with Answer and Explanation

Question
An index number that measures changes in the quantity of goods produced is:
A. Cost index
B. Price index
C. Value index
D. Quantity index
Answer: Option D
Solution (By JKSSB Mock Tests)
Quantity index tracks changes in physical volume of production or consumption.
This question belongs to: Accountancy and Statistics Statistics
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Practice More Statistics Questions

Question #1
Classification of data based on characteristics like literacy, religion, or occupation is known as:
A. Geographical classification
B. Quantitative classification
C. Qualitative classification
D. Chronological classification
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Correct Answer: Option C

Explanation:
Qualitative classification groups data according to attributes or characteristics that cannot be measured numerically, such as literacy status, religion, or occupation type.
This question belongs to: Accountancy and Statistics Statistics
Question #2
Conditional probability P(A|B) is defined only when:
A. P(A) > 0
B. A and B are independent
C. A and B are mutually exclusive
D. P(B) > 0
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Correct Answer: Option D

Explanation:
The definition P(A|B) = P(A∩B)/P(B) requires P(B) > 0.
This question belongs to: Accountancy and Statistics Statistics
Question #3
What is secondary data?
A. Data collected by the user for the first time
B. Data collected through observation
C. Data collected through experiments
D. Data that already exists and is used by someone else
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Correct Answer: Option D

Explanation:
Secondary data is data that has already been collected by someone else and is available for use.
This question belongs to: Accountancy and Statistics Statistics
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