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

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The mode of a dataset is the value that:

A. Occurs most frequently

B. Is the minimum

C. Lies in the middle

D. Is the average

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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Question #1

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Which of the following is not a measure of dispersion?

A. Range

B. Variance

C. Mode

D. Standard deviation

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Correct Answer: Option C

Explanation:
Mode is a measure of central tendency.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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Fisher's ideal index satisfies the factor reversal test because:

A. It uses base period weights

B. It is the arithmetic mean of Laspeyres and Paasche

C. It ignores quantity changes

D. Its price and quantity index product equals the value index

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Correct Answer: Option D

Explanation:
Fisher's index is designed so that (Fisher price index) × (Fisher quantity index) = Σp₁q₁/Σp₀q₀ (value index), fulfilling the factor reversal test for consistency between price and quantity measures.

This question belongs to: Accountancy and Statistics Statistics

Question #3

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Given P(A)=0.6, P(B)=0.5, P(A∪B)=0.9, then P(A|B) is:

A. 0.5

B. 0.4

C. 0.8

D. 0.2

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Correct Answer: Option B

Explanation:
P(A∩B) = 0.6+0.5-0.9 = 0.2. P(A|B) = 0.2/0.5 = 0.4.

This question belongs to: Accountancy and Statistics Statistics

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