The weighted arithmetic mean is calculated as: MCQ with Answer and Explanation

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The weighted arithmetic mean is calculated as:

A. Σx / n

B. Σ(wx) / Σw

C. n / Σ(1/x)

D. √(Πx)

Answer: Option B

Solution (By JKSSB Mock Tests)

Weighted mean = sum of (value × weight) divided by sum of weights, allowing differential importance of observations, e.g., in index numbers or survey sampling.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

If P(A)=0.35, P(B)=0.55, and P(A∩B)=0.20, then P(A'∩B') is:

A. 0.80

B. 0.70

C. 0.10

D. 0.30

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Correct Answer: Option D

Explanation:
P(A∪B)=0.35+0.55-0.20=0.70. P(A'∩B') = 1 - 0.70 = 0.30.

This question belongs to: Accountancy and Statistics Statistics

Question #2

In a continuous frequency distribution, the class interval '10-20' means the class includes:

A. Values from 10 up to exactly 20

B. Only the values 10 and 20

C. Values from 10 up to but not including 20 (in an exclusive series)

D. Values greater than 20

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Correct Answer: Option C

Explanation:
In standard exclusive class intervals, the lower limit is included, but the upper limit is excluded and falls into the next class.

This question belongs to: Accountancy and Statistics Statistics

Question #3

The factor reversal test requires that the product of a price index and a quantity index should equal:

A. 1

B. 100

C. The value ratio (Σp₁q₁/Σp₀q₀)

D. The Fisher index

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Correct Answer: Option C

Explanation:
It ensures that the product of price and quantity indices equals the change in total value.

This question belongs to: Accountancy and Statistics Statistics

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