Which of the following means is most appropriate to find the average rate of population growth over a decade? MCQ with Answer and Explanation

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Which of the following means is most appropriate to find the average rate of population growth over a decade?

A. Harmonic Mean

B. Geometric Mean

C. Weighted Mean

D. Arithmetic Mean

Answer: Option B

Solution (By JKSSB Mock Tests)

Geometric mean is the best measure for averaging ratios, percentages, and compound growth rates.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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The weights used in the construction of the Wholesale Price Index (WPI) in India are based on:

A. Value of wholesale transactions (production + imports - exports)

B. Income tax slabs

C. Retail consumption patterns

D. Number of employees in factories

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Correct Answer: Option A

Explanation:
WPI weights reflect the total value of commodities transacted in the domestic wholesale market.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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Which of the following is a direct source of demographic data in India?

A. Economic Survey

B. Census of India

C. National Sample Survey (NSS)

D. Annual Report of RBI

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Correct Answer: Option B

Explanation:
Census is the primary source of demographic data; NSS also provides demographic data but census is the most direct comprehensive source.

This question belongs to: Accountancy and Statistics Statistics

Question #3

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

A. The Fisher index

B. 1

C. 100

D. The value ratio (Σp₁q₁/Σp₀q₀)

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Correct Answer: Option D

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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