The Fisher index is also known as: MCQ with Answer and Explanation

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The Fisher index is also known as:

A. Chain index

B. Simple index

C. Cost index

D. Ideal index

Answer: Option D

Solution (By JKExamLibrary)

Fisher termed his index 'ideal' because it satisfies 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

Which of the following is true about WPI and CPI in India?

A. Both cover goods and services.

B. WPI covers only goods, CPI covers goods and services.

C. CPI covers only goods, WPI covers goods and services.

D. Both cover only goods.

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Correct Answer: Option B

Explanation:
WPI is limited to goods; CPI includes both goods and services.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

Total Fertility Rate (TFR) is obtained by summing age-specific fertility rates and multiplying by:

A. 5 if 5-year age groups are used

B. 10

C. 1

D. 1000

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Correct Answer: Option A

Explanation:
Because each ASFR is per 1000 women for a 5-year span, the sum is multiplied by 5 to give children per woman.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

Fisher's ideal index for quantity is the geometric mean of:

A. Simple and weighted indices

B. Laspeyres and Paasche price indices

C. Laspeyres and Paasche quantity indices

D. Fixed base and chain base indices

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Correct Answer: Option C

Explanation:
Fisher's ideal quantity index = √(Laspeyres quantity index × Paasche quantity index), mirroring the price index formulation to satisfy consistency tests for quantity measurement.

This question belongs to: Accountancy and Statistics Statistics

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