The Paasche index is weighted by: MCQ with Answer and Explanation

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The Paasche index is weighted by:

A. Base period quantities

B. Base period prices

C. Current period quantities

D. Fixed weights

Answer: Option C

Solution (By JKSSB Mock Tests)

Paasche price index uses current quantities as weights.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

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The Consumer Price Index for Industrial Workers (CPI-IW) is used mainly for:

A. Dearness allowance revision

B. Computing tax rates

C. Measuring agricultural production

D. Calculating GDP

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Correct Answer: Option A

Explanation:
CPI-IW is used to adjust wages and allowances of industrial workers.

This question belongs to: Accountancy and Statistics Statistics

Question #2

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For a dataset with an outlier, the median is preferred over the mean because the median is:

A. Easier to calculate

B. Less sensitive to extreme values

C. Always an integer

D. Based on all observations

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Correct Answer: Option B

Explanation:
The median depends only on the middle observation(s) in ordered data, making it robust to outliers that can disproportionately influence the mean's value.

This question belongs to: Accountancy and Statistics Statistics

Question #3

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If a woman gave birth to a child at age 30, the birth is counted in ASFR for age group:

A. 35-39

B. 30-34

C. 20-24

D. 25-29

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Correct Answer: Option B

Explanation:
Age 30 falls in the 30-34 age group.

This question belongs to: Accountancy and Statistics Statistics

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