ISS (Statistical Services) Statistics Paper III: Questions 7 - 11 of 109

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Question 7

Link and Chain Relatives Composition of Index Numbers
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Appeared in Year: 2015

Describe in Detail

Essay▾

In the construction of price index numbers, explain the terms ‘time reversal test’ and ‘factor reversal test’ . Show that both these tests are satisfied by the Fisher index.

Explanation

Price index numbers which measure the change in the retail or wholesale prices of a commodity at current period to some previous period. In the construction of price index numbers various test is consider tom find the accuracy of the formula. We explain the following test.

(i) Time reversal test: An index formula would be accurate if it maintains ti…

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Question 8

Fisher Index Numbers: Chain Base Index Number & Tests for Index Number
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Appeared in Year: 2015

Write in Short

Short Answer▾

State the problem of autocorrelation in a general linear model. Why does this problem arise? Demonstrate its effect on ordinary least square estimator (OLSE) .

Question 9

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Appeared in Year: 2015

Describe in Detail

Essay▾

Show that SRSWOR, the sample proportion is an unbiased estimator of the population proportion of members possessing a certain character. Hence obtain the variance of the estimator.

Explanation

If we are interested in estimating the proportion of a certain character, the population of N fields can be defined with variate yi as having value 1 if the field is particular characteristic, otherwise zero. If the total number of particular characteristic be N1 out of N

Thus,

The problem of estimating a population proportion becomes that of estimat…

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Question 10

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Appeared in Year: 2015

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Essay▾

Write down the auto correlation function of order k. For an AR (1) model Xt = 0.7Xt-1 + ϵt , where {ϵt} is a white noise process. Show that this model can be expressed as a moving average process of infinite order. Check the model of stationary.

Explanation

Autocorrelations are measures of dependence between variables in a time series. Suppose that Y1 , Y2 , … , Yn are square integrable random variables with the property that the covariance

of observations with lag k does not depend on t. Then

is called the auto covariance function and

is called the autocorrelation function.

For an AR (1) model

where {ϵt} …

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Question 11

Price Relatives and Quantity or Volume Relatives

Appeared in Year: 2015

Describe in Detail

Essay▾

The following information concerns changes in price and consumption (quantity) of certain major of components of the consumption basket of the labour class:

In Detail Changes in Price and Consumption (Quantity) of Certain Major of Components of the Consumption Basket
---Year 2000Year 2000Year 2014Year 2014
SI. No.ItemUnitPrice (₹)ConsumptionPrice (₹)Consumption
1RiceQuintal5001664020
2WheatQuintal2405232010
3ClothMetre16502035

Compute price index using

(i) Fisher՚s method

(ii) Marshall-Edgeworth method

Also interpret the results.

Explanation

To compute price index, various index methods is consider. Here for this portfolio we consider two index methods.

Where

And

So, we find the value by given table assumes base period is 2000.

In Detail Changes in Price and Consumption (Quantity) of Certain Major of Components of the Consumption Basket
---Year 2000Year 2000Year 2014Year 2014p0 q0pt q0p0 qtpt qt

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