LOYOLA COLLEGE (AUTONOMOUS), CHENNAI – 600 034

B.A. DEGREE EXAMINATION – ECONOMICS

THIRD SEMESTER – NOVEMBER 2012

EC 3502/EC 3500 – QUANTITATIVE TOOLS FOR ECONOMICS

 

 

 

Date : 05/11/2012             Dept. No.                                       Max. : 100 Marks

Time : 9:00 – 12:00

 

PART – A

 

Answer any FIVE questions in about 75 words each:                                                  (5 x 4 = 20 marks )

 

1. What are the uses of statistics?
2. Where do we use Pie diagram?
3. Bring out the objectives of classification.
4. Define ‘coefficient of Range’.
5. What is the significance of Ordinary Least Square Technique?
6. Distinguish between Correlation and Regression.
7. What are the components of a Time series?

 

PART – B

 

Answer any FOUR questions in about 300 words each:                                           ( 4 x 10  = 40 marks )

 

8. Represent the following data by a pie diagram

 

Items	Food	Education	Rent	Health	Entertainment	communication
Expenditure per month in thousand rupees	16	8	6	3	5	2

 

9. What are the merits and demerits of different measures of Dispersion?

 

10. Calculate the Harmonic mean of the daily  income of 10 families:

 

Family	1	2	3	4	5	6	7	8	9	10
Income in Rs.	85	70	10	75	500	8	42	250	40	36

 

11. The arithmetic mean and standard deviation of a series of 20 items were calculated by a student as 20 cm and 3 cm respectively. But while calculating them an item 13 was misread as 30. Find the correct standard deviation.

 

12. A random sample of 5 students from the second B.A. Economics has been selected and their marks scored in micro and macro economics are found to be

 

Student	1	2	3	4	5
Micro economics	85	60	40	90	73
Macro economics	93	75	50	80	65

 

Calculate the coefficient of Rank correlation and interpret.

 

13. From the following data of the rainfall and production of Rice , find the most likely production corresponding to the rainfall of 40’’ .

 

	Rainfall ( inches)	Production in quintals
Mean	35	50
Standard deviation	5	8
Co efficient of correlation	0.80

 

14. Assume that you have time series data of GDP from the year 1971 to 2010.

How do you forecast the Indian GDP for the year 2015?

 

PART – C

 

Answer any TWO questions in about 900 words each:                                            ( 2 x 20  = 40 marks )

 

15. How does the statistical analysis help in understanding Economics?
16. From the following data of weight of 122 persons determine the  Mean , Median and Modal weights.

Weights in lbs	100-110	110-120	120-130	130-140	140-150	150-160	160-170	170-180
Number of persons	4	6	20	32	33	17	8	2

 

 

 

 

1. Estimate the consumption function Y_i  =  a + b X_i   from the following data:

 

consumption in hundreds of rupees Yi	30	60	40	50	60	30	70	50	60
Income in hundreds of rupees Xi	50	60	50	60	80	50	80	40	70

 

1. Estimate Fisher’s ideal index number and prove that it satisfy Time reversal and Factor

reversal test.

 

(  QUANTITY )                                     ( PRICE )

Commodity	2000 -2001	2011 -2012	2000 – 2001	2011 – 2012
A	8	6	2	4
B	10	5	5	6
C	14	10	4	5
D	19	13	2	2

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