The property that the sum of squared deviations from the measure is minimum is characteristic of: MCQ with Answer and Explanation

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The property that the sum of squared deviations from the measure is minimum is characteristic of:

A. Median

B. Arithmetic mean

C. Mode

D. Geometric mean

Answer: Option B

Solution (By JKSSB Mock Tests)

The arithmetic mean minimizes the sum of squared deviations, i.e., Σ(x - x̄)² is minimum.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

The median can be located graphically using:

A. Histogram

B. Frequency polygon

C. Bar chart

D. Ogive

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Correct Answer: Option D

Explanation:
The median is the x-value at N/2 on the less than ogive.

This question belongs to: Accountancy and Statistics Statistics

Question #2

If P(A)=0.6, P(B)=0.5, and P(A∩B)=0.3, then P(A'|B) is:

A. 0.5

B. 0.4

C. 0.6

D. 0.2

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Correct Answer: Option B

Explanation:
P(A'|B) = 1 - P(A|B). P(A|B) = 0.3/0.5 = 0.6. So P(A'|B)=0.4.

This question belongs to: Accountancy and Statistics Statistics

Question #3

Which index number formula uses the unweighted geometric mean of price relatives?

A. Laspeyres

B. Jevons

C. Paasche

D. Fisher

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Correct Answer: Option B

Explanation:
The Jevons index is the geometric mean of the price relatives, giving equal weight to each item.

This question belongs to: Accountancy and Statistics Statistics

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