Index numbers are generally known as: MCQ with Answer and Explanation

Question

Share Report Error

Index numbers are generally known as:

A. Demographic indicators

B. Trend setters

C. Statistical multipliers

D. Economic barometers

Answer: Option D

Solution (By JKSSB Mock Tests)

Index numbers measure changes in the level of an economic phenomenon over time, earning the title 'economic barometers'.

This question belongs to: Accountancy and Statistics Statistics

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Statistics Questions

Question #1

An index number computed by taking the average of price relatives is known as:

A. Aggregative index

B. Fisher index

C. Chain index

D. Average of relatives index

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option D

Explanation:
Average of relatives method computes index as mean of (p₁/p₀ × 100).

This question belongs to: Accountancy and Statistics Statistics

Question #2

Life expectancy at birth is computed using:

A. Life table

B. Sample survey

C. Census only

D. Birth registration

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
Life table synthesizes age-specific mortality rates to compute life expectancy.

This question belongs to: Accountancy and Statistics Statistics

Question #3

The sum of squares of deviations from the mean is:

A. Minimum

B. Maximum

C. Zero

D. Equal to the variance

View Answer & Solution Discuss

Get Complete Subject PDF for Accountancy and Statistics

Correct Answer: Option A

Explanation:
The sum of squared deviations from the mean is minimum; from any other point it would be larger.

This question belongs to: Accountancy and Statistics Statistics

Explore All Statistics MCQs