Dorbish and Bowley's price index is the: MCQ with Answer and Explanation
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Question #1
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If the occurrence of one event precludes the occurrence of another, the events are:
Correct Answer: Option A
Explanation:
Mutually exclusive means disjoint events; if one happens, the other definitively cannot.
Mutually exclusive means disjoint events; if one happens, the other definitively cannot.
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Accountancy and Statistics
Statistics
Question #2
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Index numbers are typically expressed in:
Correct Answer: Option C
Explanation:
Index numbers are relative measures usually multiplied by 100 to be expressed as percentages for easy comparison.
Index numbers are relative measures usually multiplied by 100 to be expressed as percentages for easy comparison.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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Fisher's ideal index satisfies the factor reversal test because:
Correct Answer: Option D
Explanation:
Fisher's index is designed so that (Fisher price index) × (Fisher quantity index) = Σp₁q₁/Σp₀q₀ (value index), fulfilling the factor reversal test for consistency between price and quantity measures.
Fisher's index is designed so that (Fisher price index) × (Fisher quantity index) = Σp₁q₁/Σp₀q₀ (value index), fulfilling the factor reversal test for consistency between price and quantity measures.
This question belongs to:
Accountancy and Statistics
Statistics
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