For two independent events A and B, P(A)=0.2, P(B)=0.5. P(A∪B) is: MCQ with Answer and Explanation

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For two independent events A and B, P(A)=0.2, P(B)=0.5. P(A∪B) is:

A. 0.1

B. 0.6

C. 0.7

D. 0.5

Answer: Option B

Solution (By JKSSB Mock Tests)

P(A∪B) = 0.2+0.5 - (0.2×0.5) = 0.7 - 0.1 = 0.6.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

The weighted harmonic mean is used to average:

A. Performance ratios when weights are proportional to denominator

B. Speeds when distances vary

C. Growth rates

D. Prices when expenditures are equal

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Correct Answer: Option A

Explanation:
Weighted harmonic mean is appropriate when the weights correspond to the denominator of the ratio.

This question belongs to: Accountancy and Statistics Statistics

Question #2

Life expectancy at birth increased from 60 to 65 years. This indicates:

A. A newborn today is expected to live 5 years longer on average than a newborn in the past, assuming current mortality rates

B. The oldest person will live to 65

C. Everyone will live 5 years longer

D. Mortality has decreased only for the elderly

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Correct Answer: Option A

Explanation:
Life expectancy is a period measure reflecting current mortality conditions; an increase means improved survival across ages, raising the average projected lifespan for new births under present rates.

This question belongs to: Accountancy and Statistics Statistics

Question #3

Which of the following index numbers uses the weighted arithmetic mean of price relatives with base year value weights?

A. The Laspeyres index can be expressed as weighted arithmetic mean of price relatives with base period values as weights.

B. Fisher index

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D. Paasche index

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Correct Answer: Option A

Explanation:
Laspeyres = Σ (p₁/p₀) × w₀, where w₀ = p₀q₀ / Σp₀q₀. So it is a weighted arithmetic mean of relatives.

This question belongs to: Accountancy and Statistics Statistics

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