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Title:11th class statistics chapter 5 index number,Index Numbers,important definitions and short questions,1st year class.

Chapter 5: Index Numbers

(IMPORTANT SHORT QUESTIONS) CHAPTER # 5

DEFINITIONS	ANSWERS
1) Define Link Relative.	The percentage ratio between the current year price to the preceding year price is called link relative. Symbolically
2) Give Marshall index Number Formula.
3) What is the base period?	It is the period from which changes are measured.
4) Define price relatives.	The percentage ratio between the current year price to the base year price is called Price relative. Symbolically
5) Given : Laspeyre’s index =115, Paasche’s index = 111, find fisher’s index.
6) Define Fisher’s Ideal Price Index No.	It is defined as the geometric mean of the Laspeyre’s index and Paasche’s index is called Fisher’s Index No. Symbolically
7) If product of Laspeyre’s and Paasche’s indices is 15376. Find fisher’s index.
8) What is un-weighted index number?	The Index No that measures the relative change by taking into account the relative importance of the commodities.
9) What are methods of selecting base period?	There are two methods of selecting base period(i) Chain Base Method (ii) Fixed Base Method
10) Give the formula given by Paasche.
11) Define index number	The statistical device that measures a relative change in a variable or group of variables with respect to time or space is called Index No.
12) Distinguish between price relative and link relative	The percentage ratio between the current year price to the base year price is called Price relative. While The percentage ratio between the current year price to the preceding year price is called link relative. So in Price relative base year remains fixed while in link relative base year changes from year to year.
13) If Laspayr’s I.N = 101.09 and Fisher I.N = 90.80, then find Paache’s I.N = …………
14) Define ‘Paasche’s Index number’.	The Index No. In which current year quantities are used as weights is called Paasche’s Index number. Symbolically
15) Explain ‘Fixed Base Method’ in the construction of ‘Price Index Number.’	In fixed base method,we use price relative which is The percentage ratio between the current year price to the base year price .That is in this method base year remains fixed.
16) Write down two uses of index number.	· They measure the purchasing power of money. · They are helpful in forecasting the future economic trends.
17) What will be laspeyre’s index, if Paasche’s index and Fisher’s index are 108 and 112 respectively?
18) Define chain indices.	A chain index is an index number in which the value of any given period is related to the value of its immediately preceding or previous period. In this method we use link relatives.
19) Write the names of Index Numbers using method of weighted aggregate.	(i)Paasche’s index (ii) Fisher’s index (iii)laspeyre’s index (iv)Marshall Edgeworth Index
20) Given , Then find volume index no.
21) Define Laspeyre’s index number.	The Index No. In which base year quantities are used as weights is called Laspeyre’s Index number. Symbolically