Which measure of central tendency is most appropriate for finding the typical salary in a company with a few very high earners? MCQ with Answer and Explanation

Question

Which measure of central tendency is most appropriate for finding the typical salary in a company with a few very high earners?

A. Harmonic mean

B. Median

C. Mode

D. Mean

Answer: Option B

Solution (By JKSSB Mock Tests)

Median is robust to outliers and better represents the typical salary.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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For two attributes A and B, if (A)=80, (B)=70, N=100, and they are independent, then (AB) should be:

A. 80

B. 50

C. 70

D. 56

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Correct Answer: Option D

Explanation:
Expected (AB) = (80×70)/100 = 56.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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The CPI (Rural) and CPI (Urban) are released by:

A. Labour Bureau

B. Finance Ministry

C. National Statistical Office

D. RBI

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Correct Answer: Option C

Explanation:
NSO compiles CPI for rural and urban areas separately.

This question belongs to: Accountancy and Statistics Statistics

Question #3

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Paasche price index is represented by:

A. Σp₁q₀ / Σp₀q₀ × 100

B. Σp₁q₁ / Σp₀q₁ × 100

C. Σp₁q₀ / Σp₀q₁ × 100

D. Σp₁q₁ / Σp₀q₀ × 100

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Correct Answer: Option B

Explanation:
Paasche uses current period quantities: Σp₁q₁ / Σp₀q₁ × 100.

This question belongs to: Accountancy and Statistics Statistics

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