Laspeyres price index uses quantities of: MCQ with Answer and Explanation

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Laspeyres price index uses quantities of:

A. Base period as weights

B. Both periods equally

C. Current period as weights

D. None of the above

Answer: Option A

Solution (By JKSSB Mock Tests)

Laspeyres = Σp₁q₀ / Σp₀q₀ × 100, using base quantities.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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The geometric mean is more appropriate than the arithmetic mean when the data are:

A. Qualitative

B. Negative

C. Additive in nature

D. Multiplicative in nature (ratios, growth rates)

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Correct Answer: Option D

Explanation:
GM is suited for averaging ratios because it reflects compounding.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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If (AB) = 0, the attributes A and B are:

A. Independent

B. Complete disassociation

C. Complete positive association

D. Randomly associated

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Correct Answer: Option B

Explanation:
(AB)=0 means no object possesses both A and B, indicating perfect negative association (complete disassociation).

This question belongs to: Accountancy and Statistics Statistics

Question #3

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The median of the dataset: 10, 15, 20, 25, 30, 35 is:

A. 30

B. 20

C. 22.5

D. 25

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Correct Answer: Option C

Explanation:
With 6 observations (even), median = average of 3rd and 4th values in ordered list: (20 + 25)/2 = 22.5. This splits the data into two equal halves.

This question belongs to: Accountancy and Statistics Statistics

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