Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
In the given assertion (A) and reason (R), which option correctly describes their relationship?
In the given assertion (A) and reason (R), which option correctly describes their relationship?
- Both A and R are true and R is the correct explanation of A.
- A is false but R is true.
- A is true but R is false.
- Both A and R are true but R is not the correct explanation of A. (correct)
What does the 'base year' represent in the given context?
What does the 'base year' represent in the given context?
- Relative price
- Price index
- None of these
- Price relative (correct)
What is the range of the simple correlation coefficient?
What is the range of the simple correlation coefficient?
- Minus infinity to infinity
- 0 to infinity
- 0 to plus one
- Minus one to plus one (correct)
If the prices of all commodities have increased 1.25 times in comparison to the base period, what is the index number of prices for that place now?
If the prices of all commodities have increased 1.25 times in comparison to the base period, what is the index number of prices for that place now?
Signup and view all the answers
If the index number of prices at a place in 1994 is 250 with 1984 as the base year, then what is the average increase in prices?
If the index number of prices at a place in 1994 is 250 with 1984 as the base year, then what is the average increase in prices?
Signup and view all the answers
Which limitation of statistics is highlighted in the given example about cloth and paper businesses' profits?
Which limitation of statistics is highlighted in the given example about cloth and paper businesses' profits?
Signup and view all the answers
