The Fisher index is the geometric mean of Laspeyres and Paasche. This ensures it satisfies: MCQ with Answer and Explanation

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The Fisher index is the geometric mean of Laspeyres and Paasche. This ensures it satisfies:

A. Only factor reversal test

B. None of the tests

C. Only time reversal test

D. Both tests

Answer: Option D

Solution (By JKSSB Mock Tests)

Fisher is designed to meet both tests.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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Which method of collecting primary data is most suitable when informants are illiterate and the investigator wants to ensure high accuracy?

A. Direct personal interview

B. Mailed questionnaire

C. Telephone interview

D. Information through local correspondents

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Correct Answer: Option A

Explanation:
Direct personal interview allows the enumerator to clarify questions and probe for accurate responses, making it ideal for illiterate respondents.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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Which of the following index numbers suffers from upward bias?

A. Kelly's Index

B. Laspeyres' Index

C. Paasche's Index

D. Fisher's Index

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Correct Answer: Option B

Explanation:
Laspeyres uses base-year quantities, ignoring the substitution effect when prices rise, causing an upward bias in inflation estimates.

This question belongs to: Accountancy and Statistics Statistics

Question #3

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A census is characterized by:

A. Complete enumeration of every individual in a population at a specific time

B. Continuous registration of vital events only

C. Sampling only 10% of the population

D. Estimation based on survey data

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Correct Answer: Option A

Explanation:
A census involves counting and collecting demographic, social, and economic data from every member of a population within a defined territory at a particular reference time, ensuring comprehensive coverage.

This question belongs to: Accountancy and Statistics Statistics

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