2015
(November)
ECONOMICS
(General)
Course: 501
(Elementary Statistics for Economics)
Full Marks: 80
Pass Marks: 32
Time: 3 hours
The figures in the margin indicate full marks for the questions
1. Answer as directed: 1x8=8
 Mention any one source of collecting secondary data.
 On which of the following measure extreme values have no effect?
 Arithmetic mean.
 Median.
 Geometric mean.
 Harmonic mean.
(Choose the correct answer)
 If a variable takes the values then the geometric mean of is
(Choose the correct answer)
 Which of the following is not a measure of dispersion?
 Mean deviation.
 Range.
 Quartile deviation.
 Harmonic mean.
(Choose the correct answer)
 Determine the range for the following distribution:
:

30

35

40

45

50

:

15

11

4

6

2

 Base year for the construction of an index number should be
 a year only.
 A normal year.
 The previous year of a current year.
 None of the above.
(Choose the correct answer)
 In index number is a special type of ____. (Fill in the blank)
 Mention one importance of interpolation.
2. Write short notes on any four of the following: 4x4=16
 Random sampling.
 Mode.
 Standard deviation.
 Time reversal test.
 Range.
3. (a) Distinguish between primary data and secondary data. What are the different methods of collecting primary data? 4+7=11
Or
(b) Distinguish between census and sampling. Discuss their comparative advantages. 5+6=11
4. (a) What do you mean by measures of central tendency? What are the different measures of central tendency? Which measure do you consider best and why? 2+2+7=11
Or
(b) Calculate arithmetic mean and median from the following data: 6+5=11
Marks:

010

1020

2030

3040

4050

5060

6070

7080

No. of Students:

4

12

24

36

20

16

8

5

5. (a) What do you mean by dispersion? Distinguish between absolute and relative measures of dispersion. Mention merits and demerits of mean deviation. 2+3+6=11
Or
(b) Calculate standard deviation from the following data: 11
Class:

010

1020

2030

3040

4050

5060

6070

Frequency:

10

15

25

25

10

10

5

6. (a) What is an index number? Why is Fisher’s index number considered as an ideal index number? Mention the uses and limitations of index number. 2+4+5=11
Or
(b) Calculate the price index number for the year 2014 by using (i) Laspeyres’ formula and (ii) Fisher’s ideal index formula from the following data: 4+7=11
Price

Quantity
 
2010

2014

2010

2014
 
A
B
C
D

10
7
5
16

12
5
9
14

12
15
24
5

15
20
20
5

7. (a) What is interpolation? Explain the different methods of interpolation. 2+10=12
Or
(b) From the following data, estimate the number of persons in the income group of Rs. 200 to Rs. 250 per month:
12
Income (below Rs. per month)

100

200

300

400

500

No. of persons

20

45

115

210

325

***
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