Index numbers are generally known as: MCQ with Answer and Explanation

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Index numbers are generally known as:

A. Economic barometers

B. Statistical multipliers

C. Trend setters

D. Demographic indicators

Answer: Option A

Solution (By JKSSB Mock Tests)

Index numbers measure changes in the level of an economic phenomenon over time, earning the title 'economic barometers'.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

If P(A∩B) = P(A)P(B), then events A and B are:

A. Exhaustive

B. Equally likely

C. Mutually exclusive

D. Independent

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Correct Answer: Option D

Explanation:
That is the defining condition for statistical independence.

This question belongs to: Accountancy and Statistics Statistics

Question #2

Crude Death Rate is least appropriate for comparing mortality between:

A. A country with young population and one with old population

B. Consecutive years in the same population

C. Urban and rural areas of the same region

D. Two districts with similar age structures

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Correct Answer: Option A

Explanation:
CDR is heavily influenced by age structure; comparing a young population (low CDR) with an old one (high CDR) can misrepresent true mortality differences, necessitating age-standardized rates.

This question belongs to: Accountancy and Statistics Statistics

Question #3

The symbol (α) in attributes represents:

A. Possession of attribute A

B. Presence of all attributes

C. Presence of B

D. Absence of attribute A

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Correct Answer: Option D

Explanation:
α (alpha) is the negation of A, meaning not possessing A.

This question belongs to: Accountancy and Statistics Statistics

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