Multi-choice 3 Question 1. Standard error of estimate of regression of y values from y, is given by Answers Option 1 Option 2 Option 3 Option 4 Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 2. If all the scatter of points live on a straight upward line from left to right the correlation is said to be- Answers Option 1 perfect positive Option 2 perfect negative Option 3 highly positive Option 4 highly negative Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 3. Fisher’s ideal index number satisfies- Answers Option 1 Time reversal test only Option 2 Factor reversal test only Option 3 Both time and factor reversal tests Option 4 Circular test only Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 4. Assertion (A): Fisher Index Number is the geometric mean of Laspeyres and Paasche indices. Reason (R): It satisfies both time reversal and factor reversal tests. Answers Option 1 A is false but R is true Option 2 A is true but R is false Option 3 Both A and R are true and R is the correct explanation of A Option 4 Both A and R are true but R is NOT a correct explanation of A Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 5. Which of the following is NOT correct? Answers Option 1 Index numbers are specialized averages Option 2 Index numbers are not expressed in percentages Option 3 Index number is a statistical measure representing changes in a variable or group of related variables Option 4 Index numbers measure changes which are not directly measurable Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 6. Which of the following is NOT correct ? Answers Option 1 Index numbers are economic barometers Option 2 Index numbers are used in computing the real income or wages Option 3 Index numbers cannot be used in forecasting Option 4 The ideal average used in the construction of index numbers is the arithmetic mean Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 7. Which of the following is NOT correct ? Answers Option 1 Geometric mean is the most suitable average in the construction of index numbers Option 2 Paasche’s formula is a weighted aggregate index with base year quantity weights Option 3 Weighted index numbers are better and more representative than simple index numbers. Option 4 Base Year used in index numbers should be a normal year Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 8. Which of the following is NOT correct ? Answers Option 1 Price relatives are formed to study price changes over time Option 2 Quantity relations are used to measure chnages in quantum of volume of productions or conception of a commodity Option 3 Laspeyre’s formula is a weighted aggregate index with base year quantity weights Option 4 Fisher’s index formula is the arithmetic mean of Laspeyer’s and paasche’s formula Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 9. Simple price index is defined as Answers Option 1 Option 2 Option 3 Option 4 None of the above Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 10. If the changes in the average level of various items is being studied together, this index number would be called a- Answers Option 1 Composite index number Option 2 Simple index number Option 3 Value index number Option 4 None of the above Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback)
Multi-choice 3 Question 1. Standard error of estimate of regression of y values from y, is given by Answers Option 1 Option 2 Option 3 Option 4 Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 2. If all the scatter of points live on a straight upward line from left to right the correlation is said to be- Answers Option 1 perfect positive Option 2 perfect negative Option 3 highly positive Option 4 highly negative Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 3. Fisher’s ideal index number satisfies- Answers Option 1 Time reversal test only Option 2 Factor reversal test only Option 3 Both time and factor reversal tests Option 4 Circular test only Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 4. Assertion (A): Fisher Index Number is the geometric mean of Laspeyres and Paasche indices. Reason (R): It satisfies both time reversal and factor reversal tests. Answers Option 1 A is false but R is true Option 2 A is true but R is false Option 3 Both A and R are true and R is the correct explanation of A Option 4 Both A and R are true but R is NOT a correct explanation of A Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 5. Which of the following is NOT correct? Answers Option 1 Index numbers are specialized averages Option 2 Index numbers are not expressed in percentages Option 3 Index number is a statistical measure representing changes in a variable or group of related variables Option 4 Index numbers measure changes which are not directly measurable Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 6. Which of the following is NOT correct ? Answers Option 1 Index numbers are economic barometers Option 2 Index numbers are used in computing the real income or wages Option 3 Index numbers cannot be used in forecasting Option 4 The ideal average used in the construction of index numbers is the arithmetic mean Feedback Wrong choice Incorrect selection Correct option Wrong choice Solution Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Question 7. Which of the following is NOT correct ? Answers Option 1 Geometric mean is the most suitable average in the construction of index numbers Option 2 Paasche’s formula is a weighted aggregate index with base year quantity weights Option 3 Weighted index numbers are better and more representative than simple index numbers. Option 4 Base Year used in index numbers should be a normal year Feedback Wrong choice Correct option Incorrect selection Wrong choice Solution Wrong (Feedback) Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Question 8. Which of the following is NOT correct ? Answers Option 1 Price relatives are formed to study price changes over time Option 2 Quantity relations are used to measure chnages in quantum of volume of productions or conception of a commodity Option 3 Laspeyre’s formula is a weighted aggregate index with base year quantity weights Option 4 Fisher’s index formula is the arithmetic mean of Laspeyer’s and paasche’s formula Feedback Wrong choice Incorrect selection Wrong choice Correct option Solution Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Correct Option (Feedback) Question 9. Simple price index is defined as Answers Option 1 Option 2 Option 3 Option 4 None of the above Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback) Question 10. If the changes in the average level of various items is being studied together, this index number would be called a- Answers Option 1 Composite index number Option 2 Simple index number Option 3 Value index number Option 4 None of the above Feedback Correct option Wrong choice Incorrect selection Wrong choice Solution Correct Option (Feedback) Wrong (Feedback) Wrong (Feedback) Wrong (Feedback)
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