Weighted index numbers are preferred over simple indices because they: MCQ with Answer and Explanation

Weighted index numbers are preferred over simple indices because they:
A. Account for the relative importance of different items in the basket
B. Do not require quantity data
C. Always satisfy the circular test
D. Are easier to calculate
Answer: Option A
Solution (By JKSSB Mock Tests)
Weighted indices assign weights (e.g., expenditure shares) to reflect the economic significance of items, providing a more realistic measure of overall change than simple indices that treat all items equally.

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The median can be located graphically using:
A. Ogive
B. Bar chart
C. Histogram
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Correct Answer: Option A


Explanation:
The median is the x-value at N/2 on the less than ogive.

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Correct Answer: Option D


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A. Yule's coefficient of association
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Correct Answer: Option A


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