When data is classified according to time (e.g., years, months, weeks), it is called: MCQ with Answer and Explanation

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When data is classified according to time (e.g., years, months, weeks), it is called:

A. Discrete classification

B. Chronological classification

C. Conditional classification

D. Geographical classification

Answer: Option B

Solution (By JKSSB Mock Tests)

Chronological classification arranges data in order of time, forming a time series.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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Assertion (A): In any probability distribution, P(A) + P(A') = 1. Reason (R): A and A' are mutually exclusive and exhaustive events. Choose the correct option:

A. A is true, R is false

B. Both A and R are true, but R is not the correct explanation of A

C. A is false, R is true

D. Both A and R are true, and R is the correct explanation of A

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Correct Answer: Option D

Explanation:
Complementary events partition the sample space, so their probabilities sum to 1. R correctly explains A.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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In a moderately skewed distribution, if the mean is 45 and the mode is 39, the median is approximately:

A. 43

B. 41

C. 42

D. 44

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Correct Answer: Option A

Explanation:
Using the empirical relationship: Mode ≈ 3×Median - 2×Mean. Rearranging: Median ≈ (Mode + 2×Mean)/3 = (39 + 90)/3 = 129/3 = 43. This approximation holds for moderately skewed unimodal distributions.

This question belongs to: Accountancy and Statistics Statistics