The concept of 'conditional probability' is needed when: MCQ with Answer and Explanation

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The concept of 'conditional probability' is needed when:

A. Events are mutually exclusive

B. We sum probabilities

C. Events are independent

D. We want the probability of an event given that another event has already occurred

Answer: Option D

Solution (By JKSSB Mock Tests)

Conditional probability deals with the updated probability after knowing another event has occurred.

This question belongs to: Accountancy and Statistics Statistics

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The CPI (Rural) and CPI (Urban) are released by:

A. RBI

B. Labour Bureau

C. National Statistical Office

D. Finance Ministry

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Correct Answer: Option C

Explanation:
NSO compiles CPI for rural and urban areas separately.

This question belongs to: Accountancy and Statistics Statistics

Question #2

According to Census 2011, the population density of India is:

A. 500 persons/sq km

B. 425 persons/sq km

C. 325 persons/sq km

D. 382 persons/sq km

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Correct Answer: Option D

Explanation:
The density was 382 persons per square kilometer in 2011.

This question belongs to: Accountancy and Statistics Statistics

Question #3

Which of the following is NOT a test of index numbers?

A. Factor reversal test

B. Mean test

C. Time reversal test

D. Circular test

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Correct Answer: Option B

Explanation:
Common tests are time reversal, factor reversal, and circular test. 'Mean test' is not standard.

This question belongs to: Accountancy and Statistics Statistics

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