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Question Practice

Why is the choice of formula in index number construction important?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 11
Economics
Statistics for Economics
Index Numbers
Question Bank

Why is the choice of formula i...

Single Answer MCQ
Q-00063085

Why is the choice of formula in index number construction important?

1

It decides the final numerical value

2

It ensures data accuracy

3

It affects interpretation of results

4

It determines the length of the study period

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Q1.

What does an index number measure?

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Q2.

Which formula represents a simple aggregative price index?

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Q3.

What is meant by a weighted index number?

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Q4.

Which of the following is a limitation of simple index numbers?

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