With reference to index numbers, which of the following statements is true?
It is used for the base of planned economy.
Index numbers like the CPI and WPI are core inputs for monitoring inflation, fixing wages, adjusting pensions, and formulating economic plans, which makes them a base for the planned economy.
The other options are false: different construction methods (Laspeyres, Paasche, Fisher) generally give different values; direct international comparison is unreliable because base periods, baskets and methodologies differ; and index numbers do get distorted by quality changes and obsolescence unless explicitly adjusted (e.g. hedonic methods).
Similar Questions
What is the mode of the given data?
5, 7, 9, 7, 3, 7, 5, 7, 8, 6, 7
The prices (in Rs) of different yarns (per kg) in two consecutive years are as follows.
Commodity
Silk
Cotton
Jute
Rayon
Price(in 2016)
600
700
400
300
Price (in 2017)
700
600
480
270
By simple aggregative method, the net price changes in % is:
The 4 th decile for the given data is:
x
f
0
1
1
9
2
26
3
59
4
72
5
52
6
29
7
7
8
1
If the random sample size n is drawn without replacement from a finite population of size N, the correction factor for standard error of sample mean will be:
For the given figures of production of a sugar factory, the estimate of the production for 1976 using straight line trend with origin at the year 1972 by the least squares method (∑x = 0, ∑x 2= 28, ∑xy = 56) is:
Year
Production(‘000 tons) (year)
1969
76
1970
87
1971
95
1972
81
1973
91
1974
96
1975
90
Which of the following methods is NOT used in computation of a seasonal index for time series?
Marshall-Edgeworth Index number.
By the method of moving averages, the seasonal index for four quarters equals to:
The null hypothesis in ANOVA one-way classification, the study of the variances due to k different sources, is:
Second differencing in time series can help to eliminate which trend?
(I) Quadratic trend
(II) Linear trend
Important Questions from Elementary Statistics
In a colony 5 families have 1 child, 7 families have 2 children, 8 families have 3 children and 3 families have 4 children.What is the mode of the number of children.
What will be the difference between mean and median of the given data?
21, 11, 27, 8, 5, 12, 7, 23, 3, 14, 9, 19Find the mode and median of 3, 4, 5, 5, 3, 6, 7, 3, 5, 5, 6.
A. 5 and 5
B. 3 and 5
C. 5 and 4
D. 3 and 4
For which set of numbers do the mean, median and mode all have the same value?
The median of 5, 8, 25, 22, 34, 18 is
