Which of the following is true about the median? MCQ with Answer and Explanation

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Which of the following is true about the median?

A. It is always greater than the mean.

B. It is affected by extreme values.

C. It can be computed for ordinal data.

D. It is based on all observations.

Answer: Option C

Solution (By JKSSB Mock Tests)

Median requires only ranking, so it is suitable for ordinal data.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

If P(A) = 0.6, P(B) = 0.7, and P(A ∪ B) = 0.9, then P(A ∩ B) is:

A. 0.4

B. 0.5

C. 0.3

D. 0.2

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Correct Answer: Option A

Explanation:
By addition theorem: P(A∪B) = P(A) + P(B) - P(A∩B) → 0.9 = 0.6 + 0.7 - P(A∩B) → P(A∩B) = 1.3 - 0.9 = 0.4.

This question belongs to: Accountancy and Statistics Statistics

Question #2

Bayes' Theorem is primarily used to calculate:

A. Joint probabilities

B. Prior probabilities

C. Posterior probabilities

D. Marginal probabilities

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Correct Answer: Option C

Explanation:
Bayes' theorem updates prior probabilities using new evidence to compute posterior probabilities.

This question belongs to: Accountancy and Statistics Statistics

Question #3

Wholesale Price Index (WPI) in India primarily measures price changes for goods at which stage?

A. Retail sale to consumers

B. First point of bulk sale in the market

C. Factory gate before any distribution

D. Import at customs

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Correct Answer: Option B

Explanation:
WPI tracks price movements of goods traded in bulk at the wholesale level (first point of mass sale), reflecting producer and wholesale market inflation, distinct from consumer-focused CPI.

This question belongs to: Accountancy and Statistics Statistics

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