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

While dealing with price we use ----------------- as weights

• Quantity A
• Quality B
• Volume C
• Both (b) and (c) D

Composite inde numebr involves commodities.

• One A
• Two B
• Three C
• More than one D

The index number given by formula Σp_nq_n/Σp_nq_n x100 is:

• Laspeyres index A
• The paasche's index B
• The value index C
• None of these D

• The Laspeyres index A
• The Paasches index B
• The value index C
• None of these D

The weights used in a quantity index are

• Percentage of total quantity A
• Prices B
• Average of quantities C
• None of these D

The volume or quantity of goods are compared by

• Price index numbers A
• Relative index numbers B
• Volume index numbers C
• Paasche's index D

Which of the following indices has an upward bias.

• Laspeyres' index A
• Paache's index B
• Fisher's index C
• None of these D

The most suitable average for computing of index number is:

• A.M A
• G.M B
• Median C
• H.M D

Theoretically best average used in the construction of composite index in

• The arithmetic mean A
• The geometric mean B
• The median C
• The harmonic mean D

Which is the most suitabel average in chain base method.

• Arithemetic mean A
• Median B
• Geometric mean C
• Weighted arithmetic mean D

Price of commodity in current year can be represented as

• P_oi A
• P_on B
• P_n C
• P_i D

If we went to compare the prices of wheat then we have to compute.

• Price index number A
• Quantity index number B
• Volume index number C
• Both B and C D

If Laspeyres index = 104.5, Paasche's index = 107.9, then, Fisher's ideal index is equal to:

• 100 A
• 104.1 B
• 106.2 C
• 110.2 D

Which of the followingindices satisfies both the time reversal and factor reversal tests.

• Fisher's method A
• Paasche's method B
• Laspeyres method C
• None of these D

In fixed base method, the base period should be.

• Far away A
• Normal B
• Un reliable C
• Abnormal D

Index number of the year text to the base year can be shown as

• Q_n A
• Q_on B
• Q₀₁ C
• Q_oi D

Which of the followingindices satisfies both the time reversal and factor reversal tests.

• Fisher's method A
• Paasche's method B
• Laspeyres method C
• None of these D