Arts (English Medium) Class 11 - CBSE Question Bank Solutions for Economics

Interpret the values of r as 1, –1, and 0. 

Calculate the correlation coefficient between the heights of fathers in inches (X) and their sons (Y)

Calculate the correlation coefficient between X and Y and comment on their relationship:

Calculate the correlation coefficient between X and Y and comment on their relationship.

If precisely measured data are available the simple correlation coefficient is ______ 

Collect the price of five vegetables from your local market every day for a week. Calculate their correlation coefficients. Interpret the result.

Why does the rank correlation coefficient differ from the Pearsonian correlation coefficient? 

Unemployment is reduced due to the measures were taken by the government. State its economic value in the context of production possibilities frontier.

Explain the meaning of under-employment equilibrium. Explain two measures by which full-employment equilibrium can be reached.

When is rank correlation more precise than simple correlation coefficient?

Measure the height of your classmates. Ask them the height of their benchmate. Calculate the correlation coefficient of these two variables. Interpret the result. 

A consumer price index measures change in ______

Why do we need an index number?

In general, inflation is calculated by using ______ 

The item having the highest weight in the consumer price index for industrial workers is ______

Why is it essential to have different CPI for different categories of consumers?

What does a consumer price index for industrial workers measure?

The monthly per capita expenditure incurred by workers for an industrial centre during 1980 and 2005 on the following items are given below. The weights of these items are 75,10, 5, 6, and 4 respectively. Prepare a weighted index number for the cost of living for 2005 with 1980 as the base.