Applied Statistics-Index Numbers (ISS (Statistical Services) Statistics Paper III): Questions 1 - 4 of 25

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Question number: 1

» Applied Statistics » Index Numbers » Laspeyre

Appeared in Year: 2015

Essay Question▾

Describe in Detail

Discuss the considerations in the choice of (i) base period and (ii) the formula (method), for constructing price index numbers.

Explanation

(i) Choice of base period: Price index numbers are constructed in reference to a period against which the comparisons are to be made. Such a reference period is known as base period. The index for base period is always taken to be 100. The base primarily depends upon the purpose

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Question number: 2

» Applied Statistics » Index Numbers » Link and Chain Relatives Composition of Index Numbers

Appeared in Year: 2015

Essay Question▾

Describe in Detail

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:

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Question number: 3

» Applied Statistics » Index Numbers » Fisher Index Numbers: Chain Base Index Number & Tests for Index Number

Appeared in Year: 2015

Short Answer Question▾

Write in Short

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 number: 4

» Applied Statistics » Index Numbers » Price Relatives and Quantity or Volume Relatives

Appeared in Year: 2015

Essay Question▾

Describe in Detail

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

changes in price and consumption (quantity) of certain major of components of the consumption basket

In detail changes in price and consumption (quantity) of certain major of components of the consumption basket

-

-

-

Year 2000

Year 2000

Year 2014

Year 2014

SI. No.

Item

Unit

Price ( Rs. )

Consumption

Price ( Rs. )

Consumption

1

Rice

Quintal

500

16

640

20

2

Wheat

Quintal

240

52

320

10

3

Cloth

Metre

16

50

20

35

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

Equation

And

Equation

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

changes in price and consumption (quantity) of certain major of components of the consumption basket

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