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Economics Worksheet

The document contains a statistics worksheet with various problems related to cost-of-living indices, index numbers for industrial production, and correlation coefficients. It includes calculations using different methods such as Laspeyre’s, Paasche’s, and Fisher’s methods, as well as applications of correlation analysis. The problems cover topics like budget analysis, price changes over time, and rank correlation among different datasets.

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0% found this document useful (0 votes)
2 views2 pages

Economics Worksheet

The document contains a statistics worksheet with various problems related to cost-of-living indices, index numbers for industrial production, and correlation coefficients. It includes calculations using different methods such as Laspeyre’s, Paasche’s, and Fisher’s methods, as well as applications of correlation analysis. The problems cover topics like budget analysis, price changes over time, and rank correlation among different datasets.

Uploaded by

sharmapawan1128
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as PDF, TXT or read online on Scribd

STATISTICS WORKSHEET

1. An enquiry into the budget of the middle-class families in Agra gave the following
information:
Expenses on items Food Fuel Clothing Rent Others
33% 10% 20% 15% 20%
Prices in 2006 1500 250 750 300 400
Prices in 1997 1400 200 500 200 250
What is the cost-of-living index during the year 2006 as compared with 1997.
2. The monthly per capita expenditure incurred by workers for an industrial center
during 1980 and 2005 on the following items are given below. The weights of these
items are 75, 10, 5, 6, and 4 respectively. Prepare a weighted index number for cost of
living for 2005 with 1980 as the base.
Items Prices in 1980 Prices in 2005
Food 100 200
Clothing 20 25
Fuel 15 20
House rent 30 40
Miscellaneous 35 65
3. Construct index number of industrial production from the following data:
Output
Industry Weight
2012 2023
Mechanical 237 400 5
Sugar & Tea 62 150 10
Textile 572 820 35
Mining 165 200 15
Transportation 335 727 20
Electronics 87 323 15
4. From the following data, find index number using (i) Laspeyre’s Method (ii)
Paasche’s Method (iii) Fisher’s Method.
2019-20 2011-12
Commodity
Price Quantity Price Quantity
A 10 60 6 50
B 2 120 2 100
C 6 60 4 60
5. Construct index number of prices from the following data by (i) Laspeyre’s Method
(ii) Paasche’s Method (iii) Fisher’s Method.
2011-12 2019-20
Commodity
Price Expenditure Price Expenditure
A 8 100 10 90
B 10 60 11 66
C 5 100 5 100
D 3 30 2 24
E 2 8 4 20
6. In 2011 wheat was selling at an average price ₹120 per 20 kg, cloth ₹20 per metre,
house rent ₹300 per house and other items ₹100 per unit. By 2019 cost of wheat rose
by ₹180 per 20 kg, house rent by ₹450 and other items doubled in price. Using
relative prices, index number for the year 2019 with 2011 as base year was 160. By
how much the cloth rose in price during the period?
7. Calculate the coefficient of correlation between X and Y using shortcut method and
comment on their relationship.
X 1 3 4 5 7 8
Y 2 6 8 10 14 16
8. Following data relates to density of population, number of deaths and population of
various cities. Calculate death rate and Karl Pearson coefficient between density of
population and death rate.

Cities P Q R S T U
Density of Population 200 500 700 500 600 900
Number of Deaths 840 300 312 560 1,440 1,224
Population 42,000 30,000 24,000 40,000 90,000 72,000
9. From the following information, determine coefficient of correlation between X and Y
series:
X-Series Y-Series
Number of Items 15 15
Mean 25 18
SD 3.01 3.03
Sum of Squares of deviation from Mean 136 138
Sum of product of deviations of X and Y from their
122
respective Means
10. From the following data, determine Karl Pearson’s coefficient of correlation between
X and Y series for 15 pairs:
X-Series Y-Series
Mean 80 120
Sum of Squares of deviation from Arithmetic
56 156
Mean
Sum of product of deviations of X and Y from
92
their respective Means
11. In a beauty contest, three judges accorded following ranks to 10 participants:
1 2 3 4 5 6 7
Judge I 1 6 5 10 3 2 4
Judge II 3 5 8 4 7 10 2
Judge III 6 4 9 8 1 2 3
Find out by Spearman’s Rank Difference Method which pair of judges has a common
taste in respect of beauty.
12. The rank correlation coefficient between marks obtained by 10 students in English
and Statistics was found to be 0.5. Find the sum of squares of difference of ranks.
13. Find out the coefficient of rank correlation between X and Y.
X 46 56 39 45 54 58 36
Y 30 60 40 50 70 70 30

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