The mode is the value that: MCQ with Answer and Explanation

Question
The mode is the value that:
A. Occurs most frequently
B. Is the midpoint
C. Is the average
D. Divides data into two equal parts
Answer: Option A
Solution (By JKSSB Mock Tests)
Mode is the most common observation.
This question belongs to: Accountancy and Statistics Statistics
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Practice More Statistics Questions

Question #1
Which of the following averages cannot be calculated if the distribution has open-end classes at both extremes?
A. Mode
B. Quartiles
C. Median
D. Arithmetic Mean
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Correct Answer: Option D

Explanation:
Mean requires precise midpoints for all classes. Open-end classes lack boundaries, making precise mean calculation impossible.
This question belongs to: Accountancy and Statistics Statistics
Question #2
Which formula fails the Factor Reversal Test?
A. Fisher's Ideal Index
B. Both B and C
C. Marshall-Edgeworth Index
D. Laspeyres' Index
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Correct Answer: Option B

Explanation:
Only Fisher's Ideal Index satisfies both the Time Reversal and Factor Reversal Tests; Laspeyres and Marshall-Edgeworth fail the factor test.
This question belongs to: Accountancy and Statistics Statistics
Question #3
The Circular Test of an index number is an extension of the:
A. Factor Reversal Test
B. Proportionality Test
C. Unit Test
D. Time Reversal Test
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Correct Answer: Option D

Explanation:
The Circular Test requires P01 * P12 * P20 = 1, extending the logic of the time reversal test to multiple periods.
This question belongs to: Accountancy and Statistics Statistics
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