If A and B are independent events with P(A)=0.5, P(B)=0.4, P(A∪B) is: MCQ with Answer and Explanation

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If A and B are independent events with P(A)=0.5, P(B)=0.4, P(A∪B) is:

A. 0.7

B. 0.9

C. 0.2

D. 0.5

Answer: Option A

Solution (By JKSSB Mock Tests)

P(A∪B) = 0.5 + 0.4 - (0.5×0.4) = 0.9 - 0.2 = 0.7.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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In the theory of attributes, the total number of ultimate class frequencies for 'n' attributes is:

A. 2^n

B. 3^n

C. n!

D. n^2

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Correct Answer: Option A

Explanation:
For n attributes, each can be either present or absent, resulting in 2^n ultimate class frequencies.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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Cost of Living Index numbers are also known as:

A. Consumer price index

B. Index of industrial production

C. Sensex

D. Wholesale price index

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Correct Answer: Option A

Explanation:
Cost of Living Index measures changes in retail prices of goods and services consumed by households, essentially the Consumer Price Index.

This question belongs to: Accountancy and Statistics Statistics

Question #3

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If Laspeyres' index is 121 and Paasche's index is 100, Fisher's index is:

A. 110

B. 121

C. 110.5

D. 100

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Correct Answer: Option A

Explanation:
Fisher's = square root of (Laspeyres * Paasche) = sqrt(121 * 100) = sqrt(12100) = 110.

This question belongs to: Accountancy and Statistics Statistics

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