Harmonic mean is most appropriate for averaging: MCQ with Answer and Explanation

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Harmonic mean is most appropriate for averaging:

A. Rates and ratios, such as speed or price-earnings ratios

B. Qualitative data

C. Ordinal scale measurements

D. Data with extreme outliers

Answer: Option A

Solution (By JKSSB Mock Tests)

Harmonic mean is suitable for averaging rates or ratios because it gives equal weight to each data point's reciprocal, preventing distortion from high values in rate calculations.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

In attributes, if (A)=70, (B)=50, (αβ)=10, and N=100, then (AB) is:

A. 30

B. 20

C. 40

D. 10

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Correct Answer: Option A

Explanation:
(αβ)= N - (A) - (B) + (AB) ⇒ 10 = 100 -70 -50 + (AB) ⇒ (AB)=30.

This question belongs to: Accountancy and Statistics Statistics

Question #2

In the Theory of Attributes, an attribute whose presence is denoted by a capital letter (e.g., A) is called a:

A. Positive attribute

B. Independent attribute

C. Negative attribute

D. Associated attribute

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Correct Answer: Option A

Explanation:
Positive attributes denote the presence of a characteristic and are traditionally represented by capital letters.

This question belongs to: Accountancy and Statistics Statistics

Question #3

If the price index for 2020 with base 2015 is 125, and for 2025 with base 2020 is 120, the index for 2025 with base 2015 using chain method is:

A. 140

B. 145

C. 125 × 1.2 = 150

D. 150

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Correct Answer: Option C

Explanation:
Chain index = 125 × (120/100) = 125 × 1.2 = 150.

This question belongs to: Accountancy and Statistics Statistics

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