Bayes' theorem is used to compute: MCQ with Answer and Explanation

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Bayes' theorem is used to compute:

A. Expected value

B. Posterior probability

C. Marginal probability only

D. Prior probability

Answer: Option B

Solution (By JKSSB Mock Tests)

Bayes' theorem updates probabilities after observing evidence, giving posterior probabilities.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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If the WPI (base 2011-12) for March 2023 is 150, it means that wholesale prices have increased by ______ since base year.

A. 50%

B. 100%

C. 33.3%

D. 150%

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Correct Answer: Option A

Explanation:
Percentage increase = (150-100)/100 × 100 = 50%.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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Which of the following is NOT a feature of the Wholesale Price Index (WPI) in India?

A. It covers only goods.

B. The current base year is 2011-12.

C. It includes services like transport and healthcare.

D. It is compiled by the Office of Economic Adviser.

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Correct Answer: Option C

Explanation:
WPI excludes services; it covers only goods.

This question belongs to: Accountancy and Statistics Statistics

Question #3

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Vital statistics are typically derived from:

A. Sample surveys

B. Population registers

C. Civil registration system

D. Census

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Correct Answer: Option C

Explanation:
The primary source for vital events like births and deaths is the civil registration system.

This question belongs to: Accountancy and Statistics Statistics

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