The Fisher index is also known as: MCQ with Answer and Explanation

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The Fisher index is also known as:

A. Cost index

B. Simple index

C. Ideal index

D. Chain index

Answer: Option C

Solution (By JKSSB Mock Tests)

Fisher termed his index 'ideal' because it satisfies time reversal and factor reversal tests.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

A good questionnaire should have:

A. Questions arranged in random order

B. Double negatives for clarity

C. Many open-ended questions to confuse

D. Simple and clear language

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Correct Answer: Option D

Explanation:
Clarity and simplicity are fundamental principles.

This question belongs to: Accountancy and Statistics Statistics

Question #2

For two attributes, if (AB) is less than the expected frequency under independence, there is:

A. No association

B. Perfect association

C. Negative association

D. Positive association

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Correct Answer: Option C

Explanation:
Observed less than expected indicates negative association.

This question belongs to: Accountancy and Statistics Statistics

Question #3

If the Cost of Living Index rises by 10%, a wage earner's real income remains unchanged only if nominal wages increase by:

A. 15%

B. 10%

C. 20%

D. 5%

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Correct Answer: Option B

Explanation:
Real income = Nominal income / Price index. To keep real income constant when prices rise 10% (index ×1.10), nominal income must also rise 10% (×1.10), so the ratio remains unchanged.

This question belongs to: Accountancy and Statistics Statistics

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