What is secondary data? MCQ with Answer and Explanation

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What is secondary data?

A. Data that already exists and is used by someone else

B. Data collected through experiments

C. Data collected through observation

D. Data collected by the user for the first time

Answer: Option A

Solution (By JKSSB Mock Tests)

Secondary data is data that has already been collected by someone else and is available for use.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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The probability of getting at least one head in two tosses of a fair coin is:

A. 3/4

B. 1/4

C. 1

D. 1/2

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Correct Answer: Option A

Explanation:
P(at least one head) = 1 - P(no heads) = 1 - P(TT) = 1 - 1/4 = 3/4. Alternatively, favorable outcomes: HH, HT, TH (3 out of 4), so 3/4.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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The median is the best measure of central tendency when:

A. Data have extreme outliers

B. Data are symmetric

C. All values are equal

D. Data are qualitative

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Correct Answer: Option A

Explanation:
Median is robust to outliers, unlike mean.

This question belongs to: Accountancy and Statistics Statistics

Question #3

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

A. It ignores quantity changes

B. It is the arithmetic mean of Laspeyres and Paasche

C. It uses base period weights

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

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