A frequency distribution with class intervals 0-5, 5-10, 10-15,... is an example of:
A. Open-end series
B. Cumulative series
C. Exclusive series
D. Inclusive series
Answer: Option C
Solution (By JKSSB Mock Tests)
In an exclusive series, the upper limit of one class is the lower limit of the next, and an observation equal to the upper limit is placed in the next class.
Explanation:
Because it uses fixed base period quantities, Laspeyres index does not account for substitution away from goods that have become relatively expensive.
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