The formula for the Factor Reversal Test requires that the product of the price index and quantity index equals the: MCQ with Answer and Explanation
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Question #1
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If the Arithmetic Mean is 50 and the number of items is 10, the sum of all items is:
Correct Answer: Option D
Explanation:
Sum = Mean × N = 50 × 10 = 500.
Sum = Mean × N = 50 × 10 = 500.
This question belongs to:
Accountancy and Statistics
Statistics
Question #2
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In the context of primary data collection, which of the following statements is/are true? 1. Schedule is filled by the enumerator. 2. Questionnaire is self-administered. 3. Schedule requires literate respondents. Select the correct answer:
Correct Answer: Option B
Explanation:
Schedule is filled by enumerator, so respondents need not be literate; questionnaire is filled by the respondent. Statement 3 is false because schedule does not require literate respondents.
Schedule is filled by enumerator, so respondents need not be literate; questionnaire is filled by the respondent. Statement 3 is false because schedule does not require literate respondents.
This question belongs to:
Accountancy and Statistics
Statistics
Question #3
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Fisher's ideal index for quantity is the geometric mean of:
Correct Answer: Option A
Explanation:
Fisher's ideal quantity index = √(Laspeyres quantity index × Paasche quantity index), mirroring the price index formulation to satisfy consistency tests for quantity measurement.
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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