In a table, the 'caption' refers to: MCQ with Answer and Explanation
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Question #1
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If index number for year 2020 (Base 2010) is 150, it means:
Correct Answer: Option C
Explanation:
An index of 150 implies current prices are 150% of the base year (which is 100), meaning a net increase of 50%.
An index of 150 implies current prices are 150% of the base year (which is 100), meaning a net increase of 50%.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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Fisher's ideal index satisfies the factor reversal test because:
Correct Answer: Option C
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
Question #3
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Total Fertility Rate (TFR) is obtained by summing ASFRs for all age groups and multiplying by 5 if 5-year age groups are used. This is because:
Correct Answer: Option C
Explanation:
Summing ASFRs for 5-year groups gives average children per woman for the 5-year span, so multiply by 5.
Summing ASFRs for 5-year groups gives average children per woman for the 5-year span, so multiply by 5.
This question belongs to:
Accountancy and Statistics
Statistics
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