The arrangement of data into classes based on common characteristics is: MCQ with Answer and Explanation

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The arrangement of data into classes based on common characteristics is:

A. Tabulation

B. Presentation

C. Analysis

D. Classification

Answer: Option D

Solution (By JKSSB Mock Tests)

Classification is the process of grouping data into categories.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

Laspeyres' price index formula uses which of the following as weights?

A. Arbitrary quantities

B. Average of base and current year quantities

C. Base year quantities

D. Current year quantities

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Correct Answer: Option C

Explanation:
Laspeyres' index uses base year quantities (q0) as weights to measure price changes.

This question belongs to: Accountancy and Statistics Statistics

Question #2

The harmonic mean gives more weight to:

A. Smaller values

B. All values equally

C. Larger values

D. Middle values

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Correct Answer: Option A

Explanation:
HM is the reciprocal of the arithmetic mean of reciprocals, so smaller numbers have larger reciprocals and thus greater influence.

This question belongs to: Accountancy and Statistics Statistics

Question #3

The 'weight' in a weighted index number should ideally represent:

A. Relative importance of the item

B. Price of the item

C. Unit of measurement

D. Base year price

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Correct Answer: Option A

Explanation:
Weights reflect the relative significance of commodities in the basket.

This question belongs to: Accountancy and Statistics Statistics

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