Deck 2: Index Numbers and the Role of Statistics in Data Analysis

Question 1

Secular trend is indicative of long term variation towards

A)increase only
B)decrease only
C)either increase or decrease
D)none of the above

Answer 1

either increase or decrease

Question 2

seasonal variation means the variations occurring within

A)a number of year
B)parts of a year
C)parts of a month
D)none of the above

Answer 2

parts of a year

Question 3

Index number is a ______________

A)measure of relative changes.
B)a special type of an average.
C)a percentage relative
D)all the above

Answer 3

all the above

Question 4

Index numbers are expressed:

A)in percentages
B)in ratios
C)in terms of absolute value
D)all the above

Question 5

Index numbers help

A)in framing of economic policies
B)in assessing the purchasing power of mony
C)for adjusting national income
D)all the above

Question 6

Laspeyer's index formula use the weights of the

A)base year
B)current year
C)average of the weights of a number of year
D)none of the above

Question 7

If the index number is independent of the units of measurement ,then it satisfies

A)time reversal test
B)factor reversal test
C)unit test
D)all the above

Question 8

Statistics is defined in terms of numerical data in the___________

A)singular sense
B)plural sense
C)either a or b
D)both a and b

Question 9

Which of the following represents statistics

A)a single value
B)only two values in a set
C)a group of values in a set
D)none of these

Question 10

Statistical data are collected

A)without any purpose
B)for a given purpose
C)any purpose
D)none of these

Question 11

Statistics does not study

A)individuals
B)groups
C)aggregates
D)all above

Question 12

Statistical methods

A)collection of data
B)classification
C)analysis and inter correlation of data
D)all these

Question 13

Statistics is ________________

A)an art
B)a science
C)both
D)none of these

Question 14

The mean of a observation is x. If k is added to each observation then new mean is_______________

A)x
B)x+k
C)x-k
D)kx

Question 15

Find the sum of the deviation of the variable values 3,4,6,8,14 from their mean

A) 5
B)0
C)1
D)7

Question 16

Method of least squares to fit in the trend is applicable only if the trend is____________

A)linex
B)parabolic
C)both a & b
D)neither a nor b

Question 17

If the prices of all commodities in a place have increased 1.25 times more on the base period price. The index number of prices of that place is now

A)125
B)150
C)225
D)None of these