Consider the statements given below and select the correct statements :
(A) A list of indexes is called a index series
(B) By time reversal test $p_{01}×p_{10}=0$
(C) If $∑p_1q_0=144, ∑p_1q_1=192, ∑p_0q_0=90$ and $∑p_0q_1=120$ then Fisher's ideal number is 120
(D) In Paashe's index number, current year quantities are taken as weights of commodities
(E) If $∑p_0=120$ and $∑p_1=150$ then $p_{01}=125$
Choose the correct answer from the options given below :
Answer & explanation
Correct answer: option 3
The correct answer is Option (3) → (A), (D) and (E) Only
(A) A list of index numbers for different periods is called an index series.
(D) In Paschen's index numbers, current year quantities ($q_1$) are used as weights.
(E) The simple price index is,
$P_{01}=\frac{∑P_1}{∑P_0}×100$
$=\frac{150}{120}×100=125$