If the price index for 2021 (base 2020) is 110 and for 2022 (base 2021) is 105, the chain index for 2022 with base 2020 is: MCQ with Answer and Explanation

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If the price index for 2021 (base 2020) is 110 and for 2022 (base 2021) is 105, the chain index for 2022 with base 2020 is:

A. 115.0

B. 105.0

C. 115.5

D. 110.0

Answer: Option C

Solution (By JKSSB Mock Tests)

Chain index = 110 × (105/100) = 115.5.

This question belongs to: Accountancy and Statistics Statistics

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Cumulative frequency curve is known as:

A. Frequency polygon

B. Ogive

C. Histogram

D. Bar chart

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Correct Answer: Option B

Explanation:
An ogive is a graph showing cumulative frequencies plotted against class boundaries.

This question belongs to: Accountancy and Statistics Statistics

Question #2

If P(A)=0.5, P(B)=0.4, P(A∩B)=0.3, then P(A but not B) is:

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Correct Answer: Option D

Explanation:
P(A∩B') = P(A) - P(A∩B) = 0.5 - 0.3 = 0.2.

This question belongs to: Accountancy and Statistics Statistics

Question #3

Assertion (A): Direct personal investigation is always the most suitable method for data collection. Reason (R): It provides original and highly accurate data.

A. Both A and R are true, but R is not the correct explanation of A

B. Both A and R are true, and R is the correct explanation of A

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Correct Answer: Option D

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Direct personal investigation is not always suitable, especially for very large populations, although it does yield highly accurate data.

This question belongs to: Accountancy and Statistics Statistics

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