Important MCQs Index Number Test 3

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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.

Online Multiple Choice Questions about Index Numbers

1. Commodities subject to considerable price variations could best be measured by

 
 
 
 

2. When computing a weighted average of the relative index, we would be best able to compare indices from various periods if:

 
 
 
 

3. A primary difference between the average of relatives and aggregate methods is that

 
 
 
 

4. Depression in a business is?

 
 
 
 

5. 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?

 
 
 
 

6. The prices used in the construction of consumer price index numbers are:

 
 
 
 

7. To measure how much the cost of some variable changes over time, we would use

 
 
 
 

8. How many steps are involved in the construction of the index number of prices:

 
 
 
 

9. The weights used in a quantity index are:

 
 
 
 

10. Which of the following indexes has a downward bias?

 
 
 
 

11. Which method of construction of consumer price index number is the Laspeyres’ index number?

 
 
 
 

12. Which of the following indices satisfies both the time reversal and factor reversal tests?

 
 
 
 

13. The Circular test is satisfied by:

 
 
 
 

14. The circular test is satisfied for

 
 
 
 

15. The consumer price index number is also known as

 
 
 
 

16. A base period can be described as a normal period if:

 
 
 
 

17. To measure changes in total monetary worth, one should compute:

 
 
 
 

18. When the base year values are used as weights, the weighted average of the relative price index is the same as

 
 
 
 

19. Commodities subject to considerable price variation should best be measured by:

 
 
 
 

20. Which of the following describes the advantage of using the Laspeyer’s method?

 
 
 
 

Online MCQs Index Number Test

MCQs Index Numbers Test with Answers
  • 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:
MCQs Index Number Test, Statistics Help

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Best MCQs on Index Numbers Quiz 2

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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.

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MCQs on Index Numbers Quiz

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?
MCQs On Index Numbers Quiz Statistics MCQs with Answers

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Incomplete Block Design: A Quick Guide

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When the block size is less than the number of treatments to be tested is known as an incomplete block design (IBD). Yates introduced incomplete block designs to eliminate the heterogeneity when the number of treatments becomes very large.

It is known that the precision of the estimate of a treatment effect depends on the number of replications of the treatment, that is, the larger the number of replications, the more the precision. A similar criterion holds for the precision of estimating the difference between two treatment effects. If two treatments occur together in a block, then we say that these are replicated once in that block.

Different patterns of values of the numbers of replications or different pairs of treatments in a design have given rise to different types of incomplete block designs.

The randomized block designs in which every treatment is not present in every block then these designs are known as randomized incomplete block designs. The choice of incomplete block designs depends on factors such as the number of treatments.

Examples of Incomplete Block Designs

Example 1: When the set of treatments is larger than the block size, we use incomplete block designs. Suppose, we want to test the quality of six tires on a given car only 4 tires can be tested, such a block would be incomplete, as it is not possible to test all 6 tires on a given car at once.

Example 2: Consider a study comparing the effectiveness of three fertilizers ($A$, $B$, and $C$) on crop yield. If there are 12 experimental plots, a BIBD with 4 blocks of 3 plots each could be used. Each fertilizer would appear in 4 blocks, and each pair of fertilizers would appear together in 2 blocks.

Example 3: A pharmaceutical company wants to compare the effectiveness of four new drugs for treating a disease. Due to ethical considerations, patients cannot receive all four drugs. An IBD can be used to assign the drugs to different groups of patients, ensuring that each drug is tested against a variety of patient characteristics.

Incomplete block design

Using an IBD, the experimenter can control for variability between plots while still comparing the effects of the fertilizers.

Types of Incomplete Block Designs

The following are types of incomplete block design:

  • Balanced Incomplete Block Designs (BIBDs):
    • Each treatment appears in an equal number of blocks.
    • Each block contains an equal number of experimental units.
    • Every pair of treatments appears together in an equal number of blocks.
  • Partially Balanced Incomplete Block Designs (PBIBDs):
    • Similar to BIBDs but with a more relaxed constraint on the number of times pairs of treatments appear together.
  • Cyclic Designs:
    • A special type of BIBD where the treatments are arranged in a cyclic order within each block.

    Advantages and Disadvantages of IBDs

    • Advantages:
      • Reduced Experiment Size: IBD can require fewer experimental units compared to complete block designs.
      • Feasibility: IBD can be more practical when it is difficult or impossible to apply all treatments to every experimental unit.
    • Disadvantages:
      • Increased Complexity: Analysis can be more complex compared to complete block designs.
      • Reduced Efficiency: May not be as efficient as complete block designs in terms of precision.

    Applications of IBD

    • Agricultural Experiments: Testing different crop varieties or fertilizer treatments.
    • Industrial Experiments: Evaluating different manufacturing processes or materials.
    • Medical Research: Comparing the effectiveness of different treatments for a disease.

    Analysis of IBD

    • Hypothesis Testing: Testing hypotheses about the effects of treatments.
    • Estimation of Treatment Effects: Estimating the differences between treatment effects.
    • Analysis of Variance (ANOVA): IBD Can be used to assess the effects of treatments and blocks.
    • Least Squares Estimation: IBD is used to estimate treatment effects and block effects.
    • Tukey’s HSD: IBD can be used for multiple comparisons to identify significant differences between treatments.

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    Best MCQs Quality Control 1

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    The post is about MCQs Quality Control. There are 20 multiple-choice questions from control charts, process control, basics of statistical quality control, control limits, R charts, P Charts, and C charts. Let us start with the MCQs Quality Control Quiz.

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    MCQs Quality Control

    MCQs Quality Control
    • Variations in the items produced in a factory may be due to
    • Chance or random variation in the manufactured product is:
    • Variation due to assignable causes in the product occurs due to:
    • The faults due to assignable causes:
    • Control charts in statistical quality control are meant for
    • Control charts consist of
    • The chart is used to deal with the characteristics that are not possible to measure but can be observed as absent or present in the product
    • To control the quality of a specific resistance of a wire, one can use
    • The chart is applicable when the quality of the product is a discrete  variable
    • The control limits for $\overline{X}$-chart is
    • The control limits for the R-chart is
    • The control limits for the P-chart is
    • Statistical quality control methods are extensively used in the industrial production process because of
    • For a normal population, the probability of any point falling outside the 3-$\sigma$ control line is
    • The control limits for C-chart is
    • The natural variability of a process is measured by
    • Which chart type will be used to plot the number of defectives in the output of any process?
    • Process control is carried out
    • The central tendency of a process is observed through
    • The process capability is calculated as
    MCQs Quality Control Statistics Quiz

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