First Year ICS Statistics Chapter 5 Online MCQ Test (Index Numbers)

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ICS Part 1 Statistics Chapter 5 Important MCQ's

Sr.#	Question	Answer
1	To measrue how much the cost of some variable changes over time you would use.	A. A volue inxex B. An inflation index C. A quantity index D. None of these
2	If we went to compare the prices of wheat then we have to compute.	A. Price index number B. Quantity index number C. Volume index number D. Both B and C
3	If an index numebr calculation over 8 years with a base value of 100 gave an index for 1992 of 110, what would be the percentage relative for 1993.	A. 90.0 B. 13.75 C. 880 D. 110
4		A. The Laspeyres index B. The Paasches index C. The value index D. None of these
5	If an unweighed average of revalives index pn/po x 100 is calculated for each product in the compostive, what is then done with these values to finish the calculation.	A. The values are multiplied together. B. The largest values is found C. The valeus are averaged D. None of them
6	Commodities subject to considerable price variation should best be measured by	A. Quantity index B. Price index C. Value index D. None of these
7	How many basic types of index numbers.	A. 2 B. 3 C. 4 D. 5
8	The changes in whole sale or retail price are studies in	A. Price index numbers B. Volume index numbers C. Aggregate index numbers D. Chain index numbers
9	The index number given by formula Σpnqn/Σpnqn x100 is:	A. Laspeyres index B. The paasche's index C. The value index D. None of these
10	the base period can be described as a normal period if	A. it is neither the peak nor the trough of a fluctuation B. It is the most recent period for which we have data C. It is the average of several consecutive pariods D. None of these