Laspeyres index formula is: MCQ with Answer and Explanation

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Laspeyres index formula is:

A. Σp₁q₁ / Σp₀q₀ × 100

B. Σp₁q₁ / Σp₀q₁ × 100

C. Σp₁q₀ / Σp₀q₀ × 100

D. √(L×P) × 100

Answer: Option C

Solution (By JKSSB Mock Tests)

Laspeyres uses base quantities as weights.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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A student's marks in three subjects with weights 3, 2, 1 are 80, 90, 70 respectively. The weighted mean is:

A. 82

B. 80

C. 81.67

D. 85

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Correct Answer: Option C

Explanation:
Weighted sum = 3×80 + 2×90 + 1×70 = 490. Sum of weights = 6. Mean = 490/6 = 81.67.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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A box contains 4 white and 6 black balls. A ball is drawn and not replaced. Then another ball is drawn. The probability that both are white is:

A. 1/6

B. 6/90

C. 12/90

D. 2/15

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Correct Answer: Option D

Explanation:
(4/10)×(3/9)=12/90=2/15.

This question belongs to: Accountancy and Statistics Statistics

Question #3

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The main purpose of classification of data is to:

A. Present data in rows and columns

B. Calculate measures of central tendency

C. Draw graphs

D. Group homogeneous data to highlight similarities and patterns

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Correct Answer: Option D

Explanation:
Classification brings order to data by grouping similar items.

This question belongs to: Accountancy and Statistics Statistics

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