Statistics for Data Analyst

The post is about the MCQs Index Numbers Quiz. There are 20 multiple-choice questions covering the basics of index numbers, weighted index numbers, price index numbers, chain base methods, and price relatives. Let us start with the MCQs Index Numbers Quiz.

Multiple Choice Questions about Index Number. The test about Index Numbers for the preparation of FPSC Statistical Officer will help you in online preparation for the post of Lecturers, Statistical Officers, and other statistics related jobs.

1. In the fixed base method, the base period should be

 Middle

 Abnormal

 Normal

 Far distant

2. The most suitable average for index numbers is

 Harmonic mean

 Geometric mean

 Arithmetic mean

 Median

3. The following table shows the index of prices (1995=100) for a certain commodity over the period 1995-2000:It has been decided to rebase the index so that 2005=100. The index for 2003 will now be nearest to

 139.4

 193.1

 125.0

 119.7

$ P=\frac{152}{127}\times 100 = 119.69 $

4. If the average wages index for 2003 at constant 1998 prices were to be 96, which of the following comments would be correct?

 The average wage in 2003 could buy 4 percent more than in 1998

 The average wages in 2003 were 4 percent more than in 1998

 The average wages in2003 could buy 4 percent less than in 1998

 The average prices in 2003 were 4 percent less than in 1998

5. In index numbers __________ can be used as the average

 Median

 Quartiles

 Mode

 None of these

6. In the chain base method, the base period is

 None of these

 Constant

 Fixed

 Changed

7. The weights used in the price index are

 Percentage of the total price

 Quantities

 Average of prices

 None of these

8. Weighted price index numbers include

 Paasche’s index

 Laspeyre’s index

 Fisher’s ideal index

 All of these

9. If all values are not of equal importance the index number is called

 None of these

 Weighted

 Un-weighted

 Simple

10. Price relative = $\frac{?}{p_0}\times$

 $ q_0 $

 $ p_n $

 $ p_0 $

 $ q_n $

11. Index numbers computed by considering the relative importance of variables are called

 Weighted

 None of these

 Un-weighted

 Simple

12. The index for the base period is always taken as

 One

 100

 200

 Zero

13. If the index for 2003 were to be 116 and the RPI 204, express the index for 2003 at constant 1998 prices.

 97.8

 90.0

 98.7

 100

Value at 1998 RPI = $ 116\times \frac{\text{1998’s RPI}}{\text{2003’s RPI}}=116\times \frac{172}{204}=97.8 $

14. Price relatives computed for the chain base method are called

 Link relative

 Chain relative

 Simple indices

 Price relative

15. The chaining process used to make a comparison of the index numbers is

 Link relative method

 Fixed base method

 Fisher ideal

 None of these

16. The following table shows the index of prices (1995=100) for a certain commodity over the period 1995-2000:

The percentage increase in the price between 2002 and 2004 is nearest to

 10.43

 21.74

 100.00

 32.17

$ P=\frac{140}{115}\times 100 – 100 = 21.74 $

or

$ \left(\frac{140-115}{115}\right)\times 100 = 21.74 $

17. Commodities subject to considerable price variations can best be measured by a

 Value index

 Price index

 None of these

 Quantity index

18. Which index number may be weighted

 Composite

 Fisher

 Both (a) and (b)

 Simple

19. If all the items are given equal weights the index number is called

 None of these

 Un-weighted

 Weighted

 Simple

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Online MCQs Index Numbers Quiz

• Express the following average weekly wages as index numbers with base 1998.
• If the index for 2003 were to be 116 and the RPI 204, express the index for 2003 at constant 1998 prices.
• If the average wages index for 2003 at constant 1998 prices were to be 96, which of the following comments would be correct?
• The following table shows the index of prices (1995=100) for a certain commodity over the period 1995-2000:It has been decided to rebase the index so that 2005=100. The index for 2003 will now be nearest to
• The following table shows the index of prices (1995=100) for a certain commodity over the period 1995-2000: The percentage increase in the price between 2002 and 2004 is nearest to
• Price relative = $\frac{?}{p_0}\times$
• The index for the base period is always taken as
• In the fixed base method, the base period should be
• Commodities subject to considerable price variations can best be measured by a
• In the chain base method, the base period is
• The chaining process used to make a comparison of the index numbers is
• Price relatives computed for the chain base method are called
• In index numbers ———- can be used as the average
• The most suitable average for index numbers is
• If all the items are given equal weights the index number is called
• If all values are not of equal importance the index number is called
• Which index number may be weighted
• Index numbers computed by considering the relative importance of variables are called
• The weights used in the price index are
• Weighted price index numbers include

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The post is about the MCQs Index Number Test. There are 20 multiple-choice questions covering topics related to the construction of index numbers, average and aggregate index numbers, simple index numbers, weighted index numbers, price relative index numbers, and chain base methods. Let us start with the MCQs Index Number Test.

Please go to Important MCQs Index Number Test 3 to view the test

Online MCQs Index Number Test

• How many steps are involved in the construction of the index number of prices:
• The circular test is satisfied for
• Which of the following indexes has a downward bias?
• The consumer price index number is also known as
• To measure changes in total monetary worth, one should compute:
• If an index number calculations over 8 years with a base value of 100 gave an index for 2015 of 120, what would be the percentage relative for 2015?
• Which of the following describes the advantage of using the Laspeyer’s method?
• When computing a weighted average of the relative index, we would be best able to compare indices from various periods if:
• Commodities subject to considerable price variations could best be measured by
• A primary difference between the average of relatives and aggregate methods is that
• A base period can be described as a normal period if:
• The weights used in a quantity index are:
• To measure how much the cost of some variable changes over time, we would use
• When the base year values are used as weights, the weighted average of the relative price index is the same as
• Depression in a business is?
• Which method of construction of consumer price index number is the Laspeyres’ index number?
• The prices used in the construction of consumer price index numbers are:
• The Circular test is satisfied by:
• Which of the following indices satisfies both the time reversal and factor reversal tests?
• Commodities subject to considerable price variation should best be measured by:

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The post is about McQs on Index Numbers Quiz with Answers. There are 20 multiple-choice questions covering index numbers, price index numbers, weighted index numbers, and chain-based methods. Let us start with MCQs on the Index Numbers Quiz.

Please go to Best MCQs on Index Numbers Quiz 2 to view the test

MCQs on Index Numbers Quiz

• All values of equal importance are used in calculating an index, the index is called:
• The Basic types of index numbers are:
• The weights used in a quantity index are:
• A relative obtained by dividing the price in a given year price in the base year and expressed as a percentage is called:
• A relative obtained by dividing the price in a given year by the price in the proceeding year and expressed as a percentage is called:
• In simple price index numbers, the base period is
• In chain base methods the base period is:
• For calculating weighted index numbers, which of the following methods are useful quantities consumed in the base period as weight:
• $P_{on} = \frac{\Sigma p_n q_n}{\Sigma p_0 q_n}\times 100$ is the formula of:
• The time reversal test is satisfied by
• The index number for the base year is
• An index number that can serve many purposes is called
• The index numbers used to measure the changes in the price of commodities is called
• Consumer’s price index numbers are calculated by:
• The variation in two or more variables studied by the index is called:
• In Laspeyre’s Price Index, the quantities use weight related to
• Commodities subject to considerable price variations can best be measured by a
• The weights used in a quantity index are
• Theoretically best average used in the construction of a composite index is
• Which of the following price indices are prepared by the Federal Bureau of Statistics?

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