Statistics: Index Numbers · Class 11 · CBSE · Commerce Economics
The price relatives of three commodities are 120, 90 and 150. If all three commodities are given equal importance, what is the simple average of pric…
Practice question from Statistics: Index Numbers (Class 11 · CBSE · Commerce Economics), with the correct answer and a step-by-step solution.
easy · MCQ · Q-0DE0ED
The price relatives of three commodities are 120, 90 and 150. If all three commodities are given equal importance, what is the simple average of price relatives?
- A.100
- B.110
- C.120Correct answer
- D.130
Solution
Simple average of price relatives = (120 + 90 + 150) / 3 = 120.
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