Applied Statistics-Index Numbers (ISS (Statistical Services) Statistics Paper III): Questions 5 - 10 of 25

Write in Short

Explain the time reversal and factor-reversal tests for an ideal index number. Give an example

of index number which satisfies both of these tests.

Describe in Detail

State the probability density function of the Pareto distribution and give its cumulative form.

Interpret the constants involved.

Describe in Detail

Define Marshall- Edgeworth index number and examine whether it satisfies Fisher’s tests for index numbers. Also show that this index number will lie between the Laspeyres’ and Paasche’s index numbers.

Write in Short

For the following table:

Commodity

Where p and q stand for price and quantity for 0 and 1 time periods respectively. Find the value of X if the ratio between Laspeyre’s (L) and Paasche’s (P) index number is L: P: : 28: 27

Describe in Detail

Explain the errors in the measurement of price and quantity index number.

Write in Short

Discuss briefly the steps involved in the construction of cost of living index number.