In the classification of data, 'chronological classification' refers to: MCQ with Answer and Explanation

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In the classification of data, 'chronological classification' refers to:

A. Grouping by time

B. Grouping by magnitude

C. Grouping by attributes

D. Grouping by geographical area

Answer: Option A

Solution (By JKSSB Mock Tests)

Chronological means time-based.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

The cost of living index is primarily used for:

A. Computing GDP

B. Forecasting exports

C. Measuring agricultural output

D. Adjusting salaries and wages

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Correct Answer: Option D

Explanation:
It measures changes in the cost of living, used to adjust dearness allowance and wages.

This question belongs to: Accountancy and Statistics Statistics

Question #2

The probability of getting a sum of 7 when two dice are rolled is:

A. 5/36

B. 6/36

C. 1/6

D. 1/36

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Correct Answer: Option C

Explanation:
6 favorable pairs out of 36 = 6/36 = 1/6. Option D is also 6/36 but simplifies to 1/6. Use A.

This question belongs to: Accountancy and Statistics Statistics

Question #3

Which of the following is NOT a feature of the Wholesale Price Index (WPI) in India?

A. It is compiled by the Office of Economic Adviser.

B. The current base year is 2011-12.

C. It covers only goods.

D. It includes services like transport and healthcare.

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Correct Answer: Option D

Explanation:
WPI excludes services; it covers only goods.

This question belongs to: Accountancy and Statistics Statistics

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