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प्रश्न
State the test of adequacy of index number
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उत्तर
Index numbers are studied to know the relative changes in price and quantity for any two years compared.
There are two tests which are used to test the adequacy of an index number.
The two tests are as follows:
(i) Time Reversal Test
(ii) Factory Reversal Test
APPEARS IN
संबंधित प्रश्न
Complete the Correlation:
__________ : Single variable :: Composite index : Group of variables
State the uses of Index Number
Define Laspeyre’s price index number
Define Time Reversal Test
Explain factor reversal test
Discuss about Cost of Living Index Number
Construct the cost of living Index number for 2015 on the basis of 2012 from the following data using family budget method.
| Commodity | Price | Weights | |
| 2012 | 2015 | ||
| Rice | 250 | 280 | 10 |
| Wheat | 70 | 85 | 5 |
| Corn | 150 | 170 | 6 |
| Oil | 25 | 35 | 4 |
| Dhal | 85 | 90 | 3 |
Calculate the cost of living index by aggregate expenditure method:
| Commodity | Weight 2010 |
Price (Rs.) | |
| 2010 | 2015 | ||
| P | 80 | 22 | 25 |
| Q | 30 | 30 | 45 |
| R | 25 | 42 | 50 |
| S | 40 | 25 | 35 |
| T | 50 | 36 | 52 |
Assertion and reasoning question:
- Assertion (A): The index number considers all factors.
- Reasoning (R): The index number is based on samples.
Complete the correlation:
P0 : ______ : : P1 : Current year price.
