Statistics MCQs

Page No. 22

Consumer price Index Number also called _________ is designed to measure changes?


aCost Living Index number

✓


bWhole Sale Index number

✖


cweighted Index Number

✖


dConsumer Index Number

✖



All Index numbers are not suitable for all _________________?


aKind

✖


bChain relative

✖


cPurpose

✓


dPrice

✖


View Answer Purpose

A scaling factor is used to_________________?


aChange a simple index to a weight index

✖


bConvert the Paasche index to a Laspeyres index

✖


cChange the base year

✓


dchange an aggregate index to a weighted index

✖


View Answer Change the base year

The formula ∑poqn/∑poqo x100 is used to calculate_______________?


aThe Laspeyres price index

✖


bThe Paasche quantity index

✖


cThe Laspeyres quantity index

✓


dThe Paasche price index

✖



The Laspeyres and Paasche index are examples of_________________?


aAggregate index numbers

✖


b Weighted index numbers

✓


cWeighted price index only

✖


dWeighted quantity index only

✖



A simple aggregate price index_____________?


aIgnores relative quantities

✓


bCompares relative quantities to relative prices

✖


c Compares absolute prices to absolute quantities

✖


dCompares relative quantities

✖



The ratio of a new price to the base year price is called the___________?


aPrice decrease

✖


bPrice absolute

✖


c Price increase

✖


dPrice relative

✓


View Answer Price relative

The index number of base period is always:_______________?


a100

✓


b200

✖


cThe price of that year

✖


dNone of these

✖


View Answer 100

Which of the formula is used in chain indices: ________________?


a∑pn/∑po x100

✖


bpn/po x100

✖


cpn/pn-1 x100

✓


dBoth (a) and (b) but not (c)

✖


View Answer pn/pn-1 x100

Paasche’s Index number is ______________?


a∑pnqo/∑poqo

✓


b∑pnqo/∑pnqo x100

✖


c∑pnqn/∑poqo

✖


d∑pnqn/∑poqn x100

✖


View Answer ∑pnqo/∑poqo

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