Laspeyres price index uses quantities of: MCQ with Answer and Explanation

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Laspeyres price index uses quantities of:

A. Both periods equally

B. None of the above

C. Current period as weights

D. Base period as weights

Answer: Option D

Solution (By JKSSB Mock Tests)

Laspeyres = Σp₁q₀ / Σp₀q₀ × 100, using base quantities.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

Total Fertility Rate (TFR) represents:

A. Ratio of births to deaths in a population

B. Hypothetical average number of children a woman would have if she experienced current age-specific fertility rates throughout her reproductive life

C. Actual average number of children born per woman in a cohort

D. Number of births per 1,000 women aged 15-49

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Correct Answer: Option B

Explanation:
TFR is a period measure summing ASFRs across all reproductive ages (typically 15-49), estimating the average completed family size if current fertility patterns persist, crucial for population projections.

This question belongs to: Accountancy and Statistics Statistics

Question #2

Standardized Death Rate (SDR) is used to:

A. Adjust birth rates for underreporting

B. Calculate crude death rates for small areas

C. Estimate infant mortality from census data

D. Compare mortality between populations with different age structures

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Correct Answer: Option D

Explanation:
SDR applies age-specific death rates of a population to a standard age distribution, eliminating the confounding effect of age structure to enable fair mortality comparisons across regions or time.

This question belongs to: Accountancy and Statistics Statistics

Question #3

Vital statistics are essential for calculating which of the following?

A. Life expectancy

B. Poverty headcount ratio

C. Gross Domestic Product

D. Literacy rate

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Correct Answer: Option A

Explanation:
Life expectancy is derived from life tables constructed using age-specific death rates, which rely on vital statistics data on deaths and population by age.

This question belongs to: Accountancy and Statistics Statistics

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