Practice Test


Q1) The price relative for the year 1998 with 1989 = 100 is 105, while the price relative for 1998 with 1993 = 100 is 140. Find the price relative for 1993 with 1989 = 100. Show Answer


Q2) The amounts spent on 5 components of a product are 30%, 20%, 20%, 15% and 15% respectively, by what per cent will the cost of the product increase ? Show Answer


Q3) Index number is a _______ measure. Show Answer


Q4) ________ values serves as the standard point of comparison. Show Answer


Q5) Index number measures relative changes in a group from Show Answer


Q6) Index numbers are broadly classified as : Show Answer


Q7) Simple index numbers are used when weights are equal : Show Answer


Q8) Points to be kept in mind while constructing index numbers are : Show Answer


Q9) The different types of Base are : Show Answer


Q10) Beat method of averaging relatives is : Show Answer


Q11) Base period should be one of relative stability : Show Answer


Q12) The most important criteria has to be considered while constructing index numbers is : Show Answer


Q13) Price relative is defined as : Show Answer


Q14) Link relative is defined as : Show Answer


Q15) Value relative is defined as : Show Answer


Q16) Quantity relative is defined as : Show Answer


Q17) Price relatives are pure numbers. Show Answer


Q18) The formula for index number using simple aggregative method is : Show Answer


Q19) Price index numbers calculated from relatives will differ with change in the units in which the prices are equated. Show Answer


Q20) Out of the drawback of simple average of relatives method is : Show Answer


Q21) Laspeyre's method is a type of : Show Answer


Q22) Fisher ideal price index number is ________ laspeyre's & paasche's index number Show Answer


Q23) Dorbish Bowley price index number is __________ of laspeyre's & paasche's index number.
Show Answer


Q24) Simple average of relative method is defined as : Show Answer


Q25) Laspeyre's price index number is defined as : Show Answer


Q26) Paasche's price index number : Show Answer


Q27) Marshal Edgeworth Price index number is defined as : Show Answer


Q28) Fisher's index no. is defined as : Show Answer


Q29) In weighted aggregative index method the average used is : Show Answer


Q30) Weighted average of relative method is defined : Show Answer


Q31) For the purpose of chain index number _________ is used Show Answer


Q32) Chain index no. is defined as : Show Answer


Q33) Link relative of the first year is taken as : Show Answer


Q34) Chain index no. of first year is taken as : Show Answer


Q35) Chain index number and fixed base index number are equal when _______ commodity/ commodities is/ are considered. Show Answer


Q36) Price index number are used to measure : Show Answer


Q37) Quantity index number are used to measure : Show Answer


Q38) Simple aggregate quantity index number is defined as : Show Answer


Q39) Fisher's ideal quantity index is : Show Answer


Q40) Paasche's quantity index number is : Show Answer


Q41) Laspeyre's quantity index number is
Show Answer


Q42) The simple average of relative quantity index is : Show Answer


Q43) Value index number is ________. Show Answer


Q44) Use of index number are : Show Answer


Q45) Index number depicts broad trend and not the real picture. Show Answer


Q46) For finding real GNP from GNP at current price the concept of _______ is used. Show Answer


Q47) Shifting price index = Show Answer


Q48) For combining two index numbers series with different base year the concept of _______ is used. Show Answer


Q49) Deflation value = Show Answer


Q50) There are 3 tests of adequacy : Show Answer


Q51) The test of adequacy are : Show Answer


Q52) If the formula is independent of the units of measurement of the factors used for finding index number then _________ test is satisfied. Show Answer


Q53) Factor reversal test is satisfied when : Show Answer


Q54) Time reversal test is satisfied when : Show Answer


Q55) Circular test is satisfied when : Show Answer


Q56) Unit test is not satisfied by : Show Answer


Q57) Laspeyre's method satisfies Time Reversal Test. Show Answer


Q58) Time Reversal Test is satisfied by : Show Answer


Q59) Fishers method satisfies : Show Answer


Q60) Laspeyre's method satisfies : Show Answer


Q61) Laspeyre, Paasche & Fishers method do not satisfies : Show Answer


Q62) Circular test is satisfies by : Show Answer


Q63) Circular tests : Show Answer


Q64) Factor reversal test is satisfied Show Answer


Q65) The price (p) is replaced by quantity (q) & the quantity (q) is replaced by price (p) then it is case of _______ test. Show Answer


Q66) When base year price & quantities are suffixed by "0" & current year by "1" then "0" is replaced by "1" & "1" is replaced by "0" incase of : Show Answer


Q67) Value index number is defined as : Show Answer


Q68) Cost of living index number is defined is : Show Answer


Q69) Cost of living index number is defined is : Show Answer


Q70) If the prices of all the commodities in the current year has increased by 1.5 times compared to the base period price, then the price index no. for the current year is : Show Answer


Q71) If the prices of all the commodities in the current year has decreased by 30% compared to the base period price, then the price index no. for the current year is : Show Answer


Q72) Purchasing power of money is : Show Answer


Q73) If the price of gold was 20% more in 2006 as compared to 2005 but 20% less than that in 2004 and 50% more than that in 2007, then find the price relative using 2005 as base year for the years 2004 and 2007. Show Answer


Q74) The cost of living index no. is 130 the eduction price index is 120 and the other items index no. is 140. The percentage of total weight that is applicant for eduction is : Show Answer


Q75) The cost of entertainment increased by 60%, the person who maintained his former lifestyle experienced a 5% increase in his cost of living. Before the change in price, the percentage of his cost of living due to entertainment is : Show Answer


Q76) An index was at 100 in 1999. It rises by 5% in 2000, falls 6% in 2001, falls 5% in 2002, rises 4% in 2003 and rises 7% in 2004. Calculate index numbers for all these years with 1999 as base year. Show Answer


Q77) Geometric mean of index number of Laspeyre and Paasche's is 229.5648, while the sum of Laspeyre and Paasche's index number is 480. Find out Laspeyre and Paasche indices. Show Answer


Q78) The index number is unit free. Is it true ? Show Answer


Q79) If 425 and 120 are respectively the price and quantity index nos. for the year 2000 satisfying the factor reversal test, find the expenditure during the year 2000, given that expenditure during the base year was Rs.80. Show Answer


Q80) The earnings of worker in 1994 was Rs.1,000 and that in 2000 was Rs.1200. if the index number for the two years were 334 and 499 respectively, what was the percentage increase/ decrease in his earnings over this period according to 1994 index number ? Show Answer


Q81) In 2001 the price of an item A increased by 25% and that of B by 50% as compared to the price in 1991. the price of C was doubled and that of D remained steady. The index number of all the four items taken together was 140 in 2001 with 1991 as the base year. If the sum of weights of all the items is 10 and if the weights of B,C and D are equal, find the weights of the items. Show Answer


Q82) If the price index no. of 2006 is 225 with base year 2000 then price have increased or an average by : Show Answer


Q83) The first application of probability was done in : Show Answer


Q84) Initially probability was a branch of Show Answer


Q85) Now probability is an integral part of Show Answer


Q86) The two divisions of probability are Show Answer


Q87) Subjective probability is based on Show Answer


Q88) Subjective probability is used in the field of Show Answer


Q89) An experiment is said to be Random experiment if Show Answer


Q90) The result of an experiment is called Show Answer


Q91) The two types of events are : Show Answer


Q92) The events which can be decomposed into two or more events is called : Show Answer


Q93) Two events A and B are said to be incompatible when : Show Answer


Q94) A and B are called exhaustive events when : Show Answer


Q95) Two events A and B are called mutually symmetric events : Show Answer


Q96) The limitation of Priori definition of probability is : Show Answer


Q97) Classical definition is used in case of tossing coin, throwing dice, etc. Show Answer


Q98) Odds in favour of events are 5:4. Therefore probability of that events is : Show Answer


Q99) The probability of an event is 9/16. Therefore odds against an event is : Show Answer


Q100) A and A' are mutually exclusive events Show Answer


Q101) A is called a sure event when Show Answer


Q102) A is an impossible events when
Show Answer


Q103) A coin is tossed 2 times. The odds against at least 1 head is : Show Answer


Q104) A' = Show Answer


Q105) A = {1, 2, 3}; B = {2, 3, 4, 5}. Therefore A - B = Show Answer


Q106) P (A or B) = ________ when A and B are mutually exclusive. Show Answer


Q107) A and B are independent events. Therefore A and B are also independent event Show Answer


Q108) Value assigned to Random variable is from the set of : Show Answer


Q109) Number of misprints, number of tyre bursting, etc. are example of : Show Answer


Q110) Height, Marks, Age are example of : Show Answer


Q111) If x and y are 2 random variable having expected value 7 and 5 respectively the expected value of E (x + y) Show Answer


Q112) The probability of getting score 5 at least once when the die is thrown thrice : Show Answer


Q113) The odds of in favour of getting a king card when a card is drawn from the pack : Show Answer


Q114) When two coin are tossed simultaneously then the probability of getting almost one head is : Show Answer


Q115) For a random variable x its variance is 5 then variance for ( -3x + 7) is : Show Answer


Q116) The expected value of a random variable is always : Show Answer


Q117) When 2 dice are thrown the probability of getting the sum of the score as a perfect square is Show Answer


Q118) The odds in favour of one student passing at a test are 3 : 7. The odds against another student passing at are 3 : 5. What are the odds that both fail ? Show Answer


Q119) The odds in favour of one student passing at a test are 3 : 7. The odds against another student passing at are 3 : 5. What are the odds that only the 2nd student passes ? Show Answer


Q120) A salesman is known to sell a product in 3 out of 5 attempts, while another salesman in 2 out of 5 attempts. Find the probability that no sale will be affected when they both try to sell the product. Show Answer


Q121) A salesman is known to sell a product in 3 out of 5 attempts, while another salesman in 2 out of 5 attempts. Find the probability that either of them will succeed in selling the product. Show Answer


Q122) Two different digits are selected at random from digits 1, 2, .........., 9. If the sum is odd, what is the probability that 2 is one of the digits selected ? Show Answer


Q123) A committee of 4 people is to be appointed from 3 officers of the production department, 4 officers of the purchase department, 2 officers of the sales department and 1 charted accountant. Find the probability of forming the committee in which there must be one from each category. Show Answer


Q124) A committee of 4 people is to be appointed from 3 officers of the production department, 4 officers of the purchase department, 2 officers of the sales department and 1 charted accountant. Find the probability of forming the committee in which it should have at least one from the purchase department. Show Answer


Q125) A committee of 4 people is to be appointed from 3 officers of the production department, 4 officers of the purchase department, 2 officers of the sales department and 1 charted accountant. Find the probability of forming the committee where the chartered accountant must be in the committee. Show Answer


Q126) Two sets of candidates are competing for the position on the Board of Directors of a company. The probability that first and second set will win are 0.6 and 0.4 respectively. If the first set wins, the probability of introducing a new product is 0.8 and the corresponding probability if the second set win is 0.3. What is the probability that the new product will be introduced ? Show Answer


Q127) A and B choose a digit at random from 0, 1, 2,………,9 independently. Find the probability that the product of the two digits chosen is zero. Show Answer


Q128) A problem is statistics is given to two students A and B. The odds in favour of A solving the problem are 6 to 9 and against B solving the problem are 12 to 10. If A and B attempt, find the probability of the problem being solved. Show Answer


Q129) Suppose that it is 11 to 5 against a person who is now 38 years of age living till he is 73 and 5 to 3 against now 43 living till he is 78 years. Find the chance that at least one of these persons will be alive 35 years hence. Show Answer


Q130) Two cards are drawn from a pack of 52 cards at random and kept out. Them one card is drawn from the remaining 50 cards. Find the probability that it is ace. Show Answer


Q131) A committee of 4 persons is to be appointed from 7 men and 3 women, what is the probability that the committee contains exactly two women. Show Answer


Q132) A person is known to hit a target in 5 out of 8 shots, whereas another person is known to hit it in 3 out of 5 shots. Find the probability that the target is not hit at all when they both try. Show Answer


Q133) A person throws an unbiased die. If the number shown is even, he gains an amount equal to the number shown. If the number is odd, he loses an amount equal to the number shown, find his expectation. Show Answer


Q134) A service station manager sells gas at an average of $100 per day on a rainy day, $150 on a ‘dubious day’, $250 on a fair day, and $300 on a clear day. If weather bureau Statistics show the probabilities of weather as follows, find his mathematical expectation :
Clear 0.50
Fair 0.30
Dubious 0.15
Rainy 0.05 Show Answer


Q135) A die tossed twice. If it shows the same number twice, Gopal gets Rs.100 otherwise he loses Rs.5. What is his mathematical expectation ? Show Answer


Q136) A player tosses three fair coins. He wins Rs.8 if 3 heads occur, Rs.3 if 2 heads occur and Re.1 if only 1 head occurs. If the game is to fair, how much would he lose if no heads occur ? Show Answer


Q137) A person tosses two coins simultaneously. He receives Rs.8 for two heads, Rs.2 for one head and he is to pay Rs.6 for no head. Find his expectation. Show Answer


Q138) A man draws 2 balls from a bag containing 3 white and 5 black balls. If he is to receive Rs.14 for every white ball and Rs.7 fore every black ball drawn, what is his expectation ? Show Answer


Q139) 5000 tickets are sold in a lottery in which there is a first prize of Rs.10000, two second prizes of Rs.2000 each and 10 third prizes of Rs.200 each. One ticket cost Rs.2. find the expected net gain or loss if you buy one ticket ? Show Answer


Q140) A player tosses 3 coins. He wins Rs.20 if all the three coins show head, Rs.10 if 2 coins show heads and Rs.5 if one head appears. If no head appears, he loses Rs.4. find his expectation. Show Answer


Q141) The probability that there is at least one error in an accounts statement prepared by A is 0.2 and for B and C, they are 0.25 and 0.4 respectively.
A, B and C prepared 10, 16 and 20 statements respectively. Find the expected number of correct statements in all. Show Answer


Q142) The probability that a man fishing at a particular place will catch 1, 2, 3 and 4 fish are 0.1, 0.3, 0.2 and 0.4 respectively. What is the expected number of fish caught ? Show Answer


Q143) A petrol pump proprietor sells an average of Rs.80000 petrol on rainy days and an average of Rs.95000 on clear days. Statistics from the Meteorological Department show that the probability is 0.76 for clear weather and 0.24 for rainy weather on coming Monday. Find the expected value of petrol sale. Show Answer


Q144) A wheel of fortune at an amusement park is divided into five colours: red, blue, green, yellow, brown. The probabilities of the spinner landing in any of these colours are 3/10, 3/10, 2/10, 1/10, 1/10 respectively. A player can win Rs.5 if it stops on red, Rs.3 if it stops on blue, Rs.4 if it stops on green and lose Rs.2 if it stops on yellow and Re.1 if it stops on brown. Meena wants to try her luck. What is her mathematical expectation ? Show Answer


Q145) If the probability that a man wins a prize of Rs.10 is 3/5 and the probability that he wins nothing is 2/5, find the mathematical expectation ? Show Answer


Q146) Calculate the expected value of, the sum of X, the score when two dice are rolled. Show Answer


Q147) An investment consultant predicts that the odds against the price of a certain stock going up are 2 : 1 and the odds in favour of the price remaining the same are 1 : 3. what is the probability that the price of the stock will go down ? Show Answer


Q148) What is the probability that a leap year selected at random will contain either 53 Thursday's or 53 Friday's ? Show Answer


Q149) From a well shuffled pack of 52 cards, two are drawn at random. What are the odds against they being a king and an ace ? Show Answer


Q150) A chartered accountant applies for a job in two firms X and Y, he estimates that the probability of his being selected in firm X is 0.7 and being selected at, Y is 0.5 and the probability of at least one of his applications being rejected is 0.6. What is the probability that he will be selected in one of the firms ? Show Answer


Q151) There are 4 letters and 4 addressed envelopes. Find the chance that all letters are not dispatched in the right envelopes. Show Answer


Q152) A certain player X is known to win with probability 0.3 if the track is fast and 0.4 if the track is slow. For Monday, there is a 0.7 probability of a fast track and 0.3 probability of a slow track. What is the probability that the player X will win on Monday ? Show Answer


Q153) A pair of dice is thrown and sum of the numbers on the two dice is observed to be 6. what is the probability that there is 2 on one of the dice ? Show Answer


Q154) A die is so biased that it is twice as likely to show an even number as an odd number when thrown. It is thrown twice. What is the probability that sum of the two numbers shown is even ? Show Answer


Q155) An urn contains 10 counters on which digits 0, 1, 2, .......... 9 are written one digit on each counter, no digit being repeated.
A chooses a counter first and then B chooses another counter (the first is not replaced). Find the probability that the product of the two digits chosen in zero. Show Answer


Q156) There are four hotels in a certain town. If 3 men check into hotels in a day, what is the probability that each check into a different hotels ? Show Answer


Q157) Two different digits are selected at a random from the digits 1,2, .......... 9. If the sum is odd what is the probability that 2 is one of the digits selected ? Show Answer


Q158) It is known that 40% of the students in a certain college are girls and 50% of the students are above the median height. If 2/3 of the boys are above the median height, what is the probability that a randomly selected student who is below the median height is a girl ? Show Answer


Q159) Four digits 1, 2, 4 and 6 are selected at random to form a four digit number. What is the probability that the number so formed, would be divisible by 4 ? (Repetition is allowed) Show Answer


Q160) Anita and Binita stand in a line with 7 other people. What is the probability that there are 4 persons between them ? Show Answer


Q161) Out of 80 students in a class, 30 passed in Mathematics, 20 passed in Statistics and 10 passed in both. One student is selected at random. Find the probability that he has passed at least in one of the subjects. Show Answer


Q162) Out of 80 students in a class, 30 passed in Mathematics, 20 passed in Statistics and 10 passed in both. One student is selected at random. Find the probability that he has passed none of the above subjects Show Answer


Q163) Out of 80 students in a class, 30 passed in Mathematics, 20 passed in Statistics and 10 passed in both. One student is selected at random. Find the probability that he has passed only in Maths. Show Answer


Q164) Out of 80 students in a class, 30 passed in Mathematics, 20 passed in Statistics and 10 passed in both. One student is selected at random. Find the probability that he has passed only in Statistics. Show Answer


Q165) Out of 80 students in a class, 30 passed in Mathematics, 20 passed in Statistics and 10 passed in both. One student is selected at random. Find the probability that he has passed exactly in one of the subjects. Show Answer


Q166) Which of the following is an example of time series problem? (i) Estimating number of hotel rooms booking in next 6 months. (ii) Estimating the total sales in next 3 years of an insurance company. (iii) Estimating the number of calls for the next one week. Show Answer


Q167) Which of the following is not an example of a Time Series Model? Show Answer


Q168) Which of the following cannot be a component for a Time Series Plot? Show Answer


Q169) Which of the following is relatively easier to estimate in time series modeling? Show Answer


Q170) Smoothing parameter close to one gives more weight or influence to recent observations over the forecast. Show Answer


Q171) Sum of weights in exponential smoothing is _____. Show Answer


Q172) The last period's forecast was 70 and demand was 60. What is the simple exponential smoothing forecast with alpha of 0.4 for the next period. Show Answer


Q173) Which of the following is not a necessary condition for weakly stationary time series? Show Answer


Q174) Which of the following is not a technique used in smoothing time series? Show Answer


Q175) If the demand is 100 during October 2017, 200 in November 2017, 300 in December 2017, 400 in January 2018. What is the 3 - month simple moving average for February 2018? Show Answer


Q176) Suppose, you are a data scientist at Analytics Vidhya. And you observed the views on the articles increases during the month of Jan-Mar. Whereas the views during Nov-Dec decreases. Does the above statement represent seasonality? Show Answer


Q177) Second differencing in time series can help to eliminate which trend? Show Answer


Q178) In a time-series forecasting problem, if the seasonal indices for quarters 1, 2, and 3 are 0.80, 0.90, and 0.95 respectively. What can you say about the seasonal index of quarter 4? Show Answer


Q179) An orderly set of data arranged in accordance with their time of occurrence is called: Show Answer


Q180) A time series consists of: Show Answer


Q181) Secular trend can be measured by: Show Answer


Q182) The secular trend is measured by the method of semi-averages when: Show Answer


Q183) Increase in the number of patients in the hospital due to heat stroke is: Show Answer


Q184) In time series seasonal variations can occur within a period of: Show Answer


Q185) Wheat crops badly damaged on account of rains is: Show Answer


Q186) The method of moving average is used to find the: Show Answer


Q187) A complete cycle passes through: Show Answer


Q188) Most frequently used mathematical model of a time series is: Show Answer


Q189) A time series consists of: Show Answer


Q190) In a straight line equation Y = a + bX; a is the: Show Answer


Q191) In a straight line equation Y = a + bX; b is the: Show Answer


Q192) Value of b in the trend line Y = a + bX is: Show Answer


Q193) In semi averages method, we decide the data into: Show Answer


Q194) In fitting a straight line, the value of slope b remain unchanged with the change of: Show Answer


Q195) Moving average method is used for measurement of trend when: Show Answer


Q196) When the trend is of exponential type, the moving averages are to be computed by using: Show Answer


Q197) Indicate which of the following an example of seasonal variations is: Show Answer


Q198) The most commonly used mathematical method for measuring the trend is: Show Answer


Q199) A trend is the better fitted trend for which the sum of squares of residuals is: Show Answer


Q200) Decomposition of time series is called: Show Answer


Q201) The fire in a factory is an example of: Show Answer


Q202) Increased demand of admission in the subject of computer in Pakistan is: Show Answer


Q203) Damages due to floods, droughts, strikes fires and political disturbances are: Show Answer


Q204) The general pattern of increase or decrease in economics or social phenomena is shown by: Show Answer


Q205) In moving average method, we cannot find the trend values of some: Show Answer


Q206) The best fitting trend is one which the sum of squares of residuals is: Show Answer


Q207) In fitting of a straight line, the value of slope remains unchanged by change of: Show Answer


Q208) Depression in business is: Show Answer


Q209) In fitting of straight line = 0 Show Answer


Q210) Semi-averages method is used for measurement of trend when: Show Answer


Q211) Moving-averages: Show Answer


Q212) The rise and fall of a time series over periods longer than one year is called: Show Answer


Q213) A time series has: Show Answer


Q214) The multiplicative time series model is: Show Answer


Q215) The additive model of the time series is: Show Answer


Q216) The difference between the actual value of the time series and the forecasted value is called: Show Answer


Q217) A pattern that is repeated throughout a time series and has a recurrence period of at most one year is called: Show Answer


Q218) The straight line is fitted to the time series when the movements in the time series are: Show Answer


Q219) If an annual time series consisting of even number of years is coded, then each coded interval is equal to: Show Answer


Q220) For odd number of year, formula to code the values of X by taking origin at centre is: Show Answer


Q221) For even number of years when origin is in the centre and the unit of X being one year, then X can be coded as: Show Answer


Q222) For even number of years when origin is in the centre and the unit of X being half year, then X can be coded as: Show Answer


Q223) In semi averages method, if the number of values is odd then we drop: Show Answer


Q224) The trend values in freehand curve method are obtained by: Show Answer


Q225) A series of numerical figures which show the relative position is called Show Answer


Q226) A ratio or an average of ratios expressed as a percentage is called Show Answer


Q227) The index number is a special type of Show Answer


Q228) Index nos. show _____ changes rather than absolute amounts of change. Show Answer


Q229) An index time series is a list of _____ numbers for two or more periods of time. Show Answer


Q230) _____ is a point of reference in comparing various data describing individual behaviour. Show Answer


Q231) Index number for the base period is always taken as Show Answer


Q232) The value at the base time period serves as the standard point of comparison. Show Answer


Q233) The choice of suitable base period is at best temporary solution. Show Answer


Q234) The ratio of price of single commodity in a given period to its price in another period is called the Show Answer


Q235) The purpose determines the type of index no. to use Show Answer


Q236) Identify False Statements Show Answer


Q237) When the prices are decreased by 30% then the index number is now Show Answer


Q238) Index numbers are often constructed from the Show Answer


Q239) Index numbers are used in Show Answer


Q240) _____ play a very important part in the construction of index nos. Show Answer


Q241) The best average for constructing an index numbers is Show Answer


Q242) Theoretically, GM is the best average in the construction of index nos but in practice, mostly the AM is used Show Answer


Q243) The _____ makes index numbers time-reversible. Show Answer


Q244) The _____ of group indices gives the grammatical. Show Answer


Q245) Price relative is equal to Show Answer


Q246) Index number is equal to Show Answer


Q247) Price-relative is expressed in term of Show Answer


Q248) One big advantage of _____ is that they are pure numbers. Show Answer


Q249) We use price index numbers Show Answer


Q250) To measure the economic strength _____ are widely used. Show Answer


Q251) Purchasing power of money is Show Answer


Q252) For computing a price index _____ method is used. Show Answer


Q253) The cost of living Index (CLI) is always: Show Answer


Q254) Cost of living Index (C.L.I.) numbers are also used to find real wages by the process of Show Answer


Q255) Cost of living index number (C.L.I) is expressed in terms of: Show Answer


Q256) Factor reversal test is: Show Answer


Q257) Simple aggregate of quantities is a type of Show Answer


Q258) For constructing consumer price index _____ is used: Show Answer


Q259) The aggregate index formula using base period quantities is called Show Answer


Q260) Laspeyre's index is based on Show Answer


Q261) Weighted average of price relatives index using base year quantities as weights is called Show Answer


Q262) Paasche's index is based on Show Answer


Q263) Paasche's index number is expressed in terms of Show Answer


Q264) Marshall Edge worth index formula after interchange of p and q is impressed in terms of: Show Answer


Q265) The result obtained by Marshall-Edgeworth method is closest to Show Answer


Q266) Bowley's Index number is expressed in terms of: Show Answer


Q267) Fisher's ideal index is Show Answer


Q268) Fisher's ideal index number is expressed in terms of: Show Answer


Q269) The index used to measure changes in total money value is called Show Answer


Q270) The value index is equal to: Show Answer


Q271) The value Index is expressed in terms of Show Answer


Q272) The Index No. of Weighted Average of Price Relatives is represented by Show Answer


Q273) Link Relative Index Numbers is expressed for period n is Show Answer


Q274) Chain index is equal to Show Answer


Q275) The formula for conversion for deflated value is Show Answer


Q276) The formula should be independent of the unit in which or for which price and quantities are quoted in Show Answer


Q277) Weighted GM of relative formula satisfies _____ test. Show Answer


Q278) Time reversal test is satisfied when Show Answer


Q279) When the product of price index and the quantity index is equal to the corresponding value index then which of the following test is satisfied Show Answer


Q280) The factor Reversal test is represented symbolically as: Show Answer


Q281) Factor Reversal test according to Fisher is Show Answer


Q282) _____ is concerned with the measurement of price changes over a period of years, when it is desirable to shift the base. Show Answer


Q283) The test of shifting the base is called Show Answer


Q284) The Circular test is an extension of Show Answer


Q285) In a circular test the condition must be satisfied Show Answer


Q286) The simple Aggregative formula and weighted aggregative formula satisfy the Show Answer


Q287) Circular test is met by Show Answer


Q288) Circular test is not met by Show Answer


Q289) Laspeyre's method and Paasche's method do not satisfy Show Answer


Q290) Fisher's Ideal formula for calculating index nos. satisfies the _____ tests. Show Answer


Q291) Laspeyre's or Paasche's or the Fisher's ideal index do not satisfy Show Answer


Q292) The time reversal test is satisfied by _____ index number. Show Answer


Q293) The factor reversal test is satisfied by Show Answer


Q294) Time reversal test is satisfied by following index number formula is Show Answer


Q295) Identify False Statements Show Answer


Q296) "Neither Laspeyre's formula nor Paasche's formula obeys" Show Answer


Q297) The quantity index number using Fisher's formula satisfies: Show Answer


Q298) Time Reversal test is satisfied by: Show Answer


Q299) Factor reversal test is satisfied by Show Answer


Q300) Fisher's ideal formula does not satisfy _____ test. Show Answer


Q301) Circular test is satisfied by Show Answer


Q302) Both the time and factor reversal tests are satisfied by Show Answer


Q303) A good index number is one that satisfies Show Answer


Q304) Identify the correct statement. Show Answer


Q305) Which of the following is not correct? Show Answer


Q306) Identify False Statements Show Answer


Q307) Identify False Statements Show Answer


Q308) Identify False Statements Show Answer


Q309) Which of the following statement is true? Show Answer


Q310) If with a rise of 10% in prices the wages are increased by 20% the real wage increase by Show Answer


Q311) If the prices of all commodities in a place have increased 1.25 times in comparison to the base period, the index number of prices of that place is now Show Answer


Q312) If the index number of prices at a place in 1994 is 250 with 1984 as base year, then the prices have increased on average Show Answer


Q313) If the prices of all commodities in a place have decreased 35% over the base period prices, then the index number of prices of that place is now Show Answer


Q314) Consumer Price Index number for the year 1957 was 313 with 1940 as the base year 96 the Average Monthly wages in 1957 of the workers into factory be Rs. 160 their real wages is Show Answer


Q315) The price relative for the year 1986 with reference to 1985 is 120. What is the percent the price increased in 1986 over 1985 is Show Answer


Q316) With the year 1960 as the base the Cost of Living Index in 1972 stood at 250. X was getting a monthly salary of Rs. 500 in 1960 and Rs. 750 in 1972. In 1972 to maintain his standard of living as in the year 1960, the extra allowance received by X Show Answer


Q317) In 1980, the net monthly income of the employee was Rs. 800 p.m. The consumer price index number was 160 in 1980. It rises to 200 in 194. If he has to be rightly compensated. The additional DA to be paid to the employee is Show Answer


Q318) The Index number in whole sale prices is 152 for August 1999 compared to August 1998. During the year there is net increase in prices of whole sale commodities to the extent of Show Answer


Q319) The price level of a country in a certain year has increased 25% over the base period. The index number is Show Answer


Q320) The index number of prices at a place in 1998 is 355 with 1991 as base. This means Show Answer


Q321) In 2005, Price Index is 286% with base 1995. Then how much price increased in 2005 with base 1995? Show Answer


Q322) If the prices of all commodities in a place have increased 125 times in comparison to the base period prices, then the index number of prices for the place is now Show Answer


Q323) The whole sale price index number or agricultural commodities in a given region at a given date is 280. The percentage use in prices of agricultural commodities over the base period is: Show Answer


Q324) If now the prices of all the commodities in a place have been decreased by 85% over the base period prices, then the index number of prices is now (index number of prices of base period = 100) Show Answer


Q325) If the 1970 index with base 1965 is 200 and 1985 index with base 1960 is 150, the index 1970 on base 1960 will be: Show Answer


Q326) In 1996 the average price of a commodity was 20% more than in 1995 but 20% less than in 1994; and more over it was 50% more than in 1997 to price relatives using 1995 as base (1995 price relative 100) Reduce the data is: Show Answer


Q327) The price of a commodity increases from Rs. 5 per unit in 1990 to Rs. 7.50 per unit in 1995 and the quantity consumed decreases from 120 units in 1990 to 90 units in 1995. The price and quantity in 1995 are 150% and 75% respectively of the corresponding price and quantity in 1990. Therefore, the product of the price ratio and quantity ratio is: Show Answer


Q328) Consumer price index number goes up from 110 to 200 and the Salary of a worker is also raised from Rs. 325 to Rs. 500. Therefore, in real terms he has no gain, to maintain his previous standard of living he should get an additional amount is: Show Answer


Q329) The prices of a commodity in the year 1975 and 1980 were 25 and 30 respectively taking 1980 as base year the price relative is: Show Answer


Q330) In 1976 the average price of a commodity was 20% more than that in 1975 but 20% less than that in 1974 and more over it was 50% more than that in 1977. The price relatives using 1975 as base year (1975 price relative = 100) then the reduce date is: Show Answer


Q331) The prices of a commodity in the years 1975 and 1980 were 25 and 30 respectively, taking 1975 as base the price relative is: Show Answer


Q332) During a certain period the cost of living index number goes up from 110 to 200 and the salary of a worker is also raised from Rs. 325 to Rs. 500. The worker does not get really gain. Then the real wages decreased by: Show Answer


Q333) Net monthly salary of an employee was Rs. 3000 in 1980. The consumer price index number in 1985 is 250 with 1980 as base year. If he has to be rightly compensated, the additional DA to be paid to the employee is: Show Answer


Q334) Net monthly income of an employee was Rs. 800 in 1980. The consumer price Index number was 160 in 1980. It rises to 200 in 1984. If he has to be rightly compensated, the additional DA to be paid to the employee is: Show Answer


Q335) The total value of retained imports into India in 1960 was Rs. 71.5 million per month. The corresponding total for 1967 was Rs. 87.6 million per month. The index of volume of retained imports in 1967 composed with 1960 (= 100) was 62.0. The price index for retained inputs for 1967 our 1960 as base is Show Answer


Q336) During the certain period the CLI goes up from 110 to 200 and the Salary of a worker is also raised from 330 to 500, then the loss in real terms is Show Answer


Q337) If the price of all commodities in a place have increased 125 times in comparison to the base period prices, then the index number of prices for the place is now Show Answer


Q338) The average price of certain commodities in 1980 was Rs. 60 and the average price of the same commodities in 1982 was Rs. 120. Therefore, the increase in 1982 on the basis of 1980 was 100%. The decrease should have been 100% in 1980 using 1982, comment on the above statement is: Show Answer


Q339) The index number of prices at a place in 1998 is 355 with 1991 as base. This means Show Answer


Q340) If now the prices of all the commodities in a place have been decreased by 85% over the base period prices, then the index number of prices for the place is now (index number of prices of base period = 100) Show Answer


Q341) If with a rise of 10% in prices the salaries are increased by 20%, the real salary increase is by Show Answer


Q342) The price level of a country in a certain year has increased 20% over the base period. The Index number is _____ Show Answer


Q343) If with rise of 10% in prices the wages are increased by 20%. Find the percentage of real wage increase Show Answer


Q344) If the price index for the year, say 1960 be 110.3 and the price index for the year, say 1950 be 98.4. Then the purchasing power of money (Rupees) of 1950 will be of 1960 is Show Answer


Q345) When the cost of Tobacco was increased by 50%, a certain hardened smoker, who maintained his formal scale of consumption, said that the rise had increased his cost of living by 5%. Before the change in price, the percentage of his cost of living was due to buying Tobacco is Show Answer


Q346) The consumer price index for April 1985 was 125. The food price index was 120 and other items index was 135. The percentage of the total weight of the food grains in the index is - Show Answer


Q347) Bowley's Index Number = 150, Laspeyer's Index = 180, then Paasche's Index Number is - Show Answer


Q348) Consumer Price index number for the year 1957 was 313 with 1940 as the base year. The Average Monthly wages in 1957 of the workers in to factory be Rs. 160/- their real wages is: Show Answer


Q349) Which is called an ideal index number Show Answer


Q350) In semi averages method, if the number of values is odd then we drop: Show Answer


Q351) Which is not satisfied by Fisher's ideal index number? Show Answer


Q352) The cost of living index numbers in year 2015 and 2018 were 97.5 and 115 respectively. The salary of worker in 2015 was Rs.19,500. How much additional salary was required for him in 2018 to maintain the some standard of living as in 2015? Show Answer


Q353) Trend in semi averages is: Show Answer


Q354) The most commonly used mathematical method for finding secular trend is: Show Answer


Q355) When sale of cold drink increases in summer and decrease in winters is an example of? Show Answer


Q356) Seasonal variations takes place within: Show Answer


Q357) The index number of prices at place in the year 2008 is 225 with 2004 as the base then there is: Show Answer


Q358) Indexed Numbers are expressed as Show Answer


Q359) In Laspeyr's index number is 110 and Fisher's ideal index number is 109. Then Paasche's index number is Show Answer


Q360) The cost of living index is always Show Answer


Q361) When the prices for quantities consumed of all commodities are changing in the same ratio, then the index numbers due to Laspeyre's and Paasche's will be. Show Answer


Q362) If in an additive model O refers to original data as 875, T refers to trend 700, S refers to seasonal variations -200, C refers to cyclical variations 75 then the value of 1 which refers to irregular variation is: Show Answer


Q363) The consumer price index goes up from 120 to 180 when salary goes up from 240 to 540, what is the increase in real terms? Show Answer


Q364) The weighted averaged of price relatives of commodities, when the wights are equal to the value of commodities in the current year, yields_________Index number. Show Answer


Q365) Index numbers are not helpful in Show Answer


Q366) The three index numbers, namely, Laspeyre, Paasche and Fisher do not satisfy________test. Show Answer


Q367) Geometric mean method used in which index number to ind it out Show Answer


Q368) Which test is known for shift base index no. Show Answer


Q369) Laspeyre and Paasche don not satisfy- Show Answer


Q370) Laspeyre's index number is based on? Show Answer


Q371) price relative is: Show Answer


Q372) which one of the following is not appropriate for calculation of index number? Show Answer