Which of the following tests is satisfied by Fisher's ideal index? MCQ with Answer and Explanation

Question
Which of the following tests is satisfied by Fisher's ideal index?
A. Factor reversal test
B. Both time reversal and factor reversal tests
C. Time reversal test
D. Circular test
Answer: Option B
Solution (By JKSSB Mock Tests)
Fisher index satisfies both time reversal and factor reversal tests.
This question belongs to: Accountancy and Statistics Statistics
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Practice More Statistics Questions

Question #1
Which of the following best defines primary data?
A. Data obtained from previously published sources
B. Data collected by an investigator for the first time for a specific purpose
C. Data collected through secondary sources like journals and reports
D. Data that has been analyzed and interpreted by another researcher
Discuss
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Correct Answer: Option B

Explanation:
Primary data is original data collected firsthand by the investigator specifically for the current research purpose, distinguishing it from secondary data which is pre-existing.
This question belongs to: Accountancy and Statistics Statistics
Question #2
The factor reversal test is satisfied by:
A. Paasche index
B. Marshall-Edgeworth index
C. Laspeyres index
D. Fisher index
Discuss
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Correct Answer: Option D

Explanation:
Only Fisher's ideal index satisfies both the time reversal and factor reversal tests.
This question belongs to: Accountancy and Statistics Statistics
Question #3
In probability, if P(A) = 0, then A is:
A. Independent of any other event
B. Both B and C are correct
C. An impossible event
D. A sure event
Discuss
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Correct Answer: Option B

Explanation:
An impossible event has probability 0, and it is independent of any event because P(A∩B)=0 = P(A)P(B).
This question belongs to: Accountancy and Statistics Statistics
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