Conditional probability P(A|B) is defined as: MCQ with Answer and Explanation

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Conditional probability P(A|B) is defined as:

A. P(A∩B) / P(A)

B. P(B) / P(A)

C. P(A∩B) / P(B)

D. P(A) / P(B)

Answer: Option C

Solution (By JKSSB Mock Tests)

P(A|B) = P(A∩B) / P(B), provided P(B) > 0.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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The probability of an event A is 0.2. The odds in favor of A are:

A. 1:5

B. 4:1

C. 1:4

D. 5:1

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Correct Answer: Option C

Explanation:
Odds = P(A) : P(A') = 0.2 : 0.8 = 1:4.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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Standardized death rate can be computed by:

A. Both direct and indirect methods

B. Only by using median

C. Direct method only

D. Indirect method only

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Correct Answer: Option A

Explanation:
Both direct (using a standard population) and indirect (using standard rates) methods exist.

This question belongs to: Accountancy and Statistics Statistics

Question #3

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Cost of Living Index (CLI) is conceptually synonymous with:

A. Consumer Price Index

B. Index of Industrial Production

C. Human Development Index

D. Wholesale Price Index

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Correct Answer: Option A

Explanation:
CLI measures the changes in the cost of maintaining a certain standard of living, identical in purpose to the Consumer Price Index.

This question belongs to: Accountancy and Statistics Statistics

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