ISS (Statistical Services) Statistics Paper III: Questions 66 - 73 of 109

Errors in the measurement of price and quantity index numbers:

Generally, index numbers for prices are constructed from m commodities, which are common to both the base year and the given year. But in practical calculations, it may not be possible to consider all common commodities say, M.

Therefore, value index can be either in terms of M commodit…

(i) Weighted Aggregates Method:

In this method, an index number of prices for any given year is calculated after assigning the appropriate weights to the different items included in that index number.

Usually weights are assigned on the basis of quantities, values or sale price of the commodities consumed during the base year or in some typical years…

Relevance of variate difference method:

Although many different formulas are used to measure the random component in a time series, , the variate difference method fits the best, because this method method enables us to estimate the variance of the random component in a series. The variate difference method does not require the specification of a ri…

Circular systematic sampling

This method consists of choosing a random start from 1 to N and selecting the unit corresponding to the random start and thereafter every k^th unit in a cyclic manner till a sample of size n units is obtained, k being the integer nearest to .

That is, if r is the number selected at random from 1 to N, the sample consists o…