Fisher's ideal index satisfies which tests? MCQ with Answer and Explanation

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Fisher's ideal index satisfies which tests?

A. Time reversal test only

B. Circular test

C. Both time reversal and factor reversal tests

D. Factor reversal test only

Answer: Option C

Solution (By JKExamLibrary)

Fisher's index is the geometric mean of Laspeyres and Paasche and satisfies both the time reversal and factor reversal tests.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error

The class midpoint is also known as:

A. Class interval

B. Class mark

C. Class frequency

D. Class limit

View Answer & Solution Discuss

Correct Answer: Option B

Explanation:
Class mark = (lower limit + upper limit)/2.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

Weighted mean of values 10, 20, 30 with weights 3, 2, 1 respectively is:

A. 15

B. 20

C. 16.67

D. 18.33

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Correct Answer: Option C

Explanation:
Weighted sum = 3×10+2×20+1×30 = 100. Sum of weights = 6. Mean = 100/6 = 16.67.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

The Laspeyres index formula is:

A. Σp₁q₀ / Σp₀q₀ × 100

B. Σp₁q₁ / Σp₀q₁ × 100

C. √( Σp₁q₀/Σp₀q₀ × Σp₁q₁/Σp₀q₁ ) × 100

D. Σp₁q₁ / Σp₀q₀ × 100

View Answer & Solution Discuss

Correct Answer: Option A

Explanation:
Laspeyres uses base period weights.

This question belongs to: Accountancy and Statistics Statistics

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