Fisher's ideal index satisfies which tests? MCQ with Answer and Explanation

Fisher's ideal index satisfies which tests?
A. Circular test
B. Both time reversal and factor reversal tests
C. Time reversal test only
D. Factor reversal test only
Answer: Option B
Solution (By JKSSB Mock Tests)
Fisher's index is the geometric mean of Laspeyres and Paasche and satisfies both the time reversal and factor reversal tests.

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Practice More Statistics Questions

Question #1
Two events A and B are such that P(A)=0.5, P(B)=0.3, P(A∩B)=0.1. They are:
A. Independent
B. Both mutually exclusive and independent
C. Mutually exclusive
D. Neither mutually exclusive nor independent

Correct Answer: Option D


Explanation:
P(A∩B)≠0 ⇒ not mutually exclusive. P(A)P(B)=0.15 ≠ 0.1 ⇒ not independent.

This question belongs to: Accountancy and Statistics Statistics
Question #2
Assertion (A): Direct personal investigation is always the most suitable method for data collection. Reason (R): It provides original and highly accurate data.
A. Both A and R are true, but R is not the correct explanation of A
B. A is true, but R is false
C. A is false, but R is true
D. Both A and R are true, and R is the correct explanation of A

Correct Answer: Option C


Explanation:
Direct personal investigation is not always suitable, especially for very large populations, although it does yield highly accurate data.

This question belongs to: Accountancy and Statistics Statistics
Question #3
A speaks truth in 60% cases, B in 70% cases. They agree in a statement. The probability that the statement is true is:
A. 0.78
B. 0.58
C. 0.50
D. 0.42

Correct Answer: Option A


Explanation:
Agreement can be both truth or both lie. P(both truth)=0.6×0.7=0.42; both lie=0.4×0.3=0.12. Total agreement=0.54. Probability truth given agreement = 0.42/0.54 ≈ 0.7778.

This question belongs to: Accountancy and Statistics Statistics