List of top Statistics for Economics Questions on Mathematical statistics asked in IIT JAM EN

Consider an Economy that produces only Apples and Bananas. The following Table contains per unit price (in INR) and quantity (in kg) of these goods. Assuming 2010 as the Base Year and using GDP deflator to calculate the annual inflation rate, which of the following options is CORRECT?

Year	Price of Apple	Quantity of Apple	Price of Banana	Quantity of Banana
2010	1	100	2	50
2011	1	200	2	100
2012	2	200	4	100

Let the probability density function of the continuous random variable 𝑋 be
, 0, 𝑥 ≥ 0 otherwise , 
where 𝜆 > 0 is a parameter. If the observed sample values of 𝑋 are 
𝑥₁ = 1.75, 𝑥₂ = 2.25, 𝑥₃ = 2.50, 𝑥4 = 2.75, 𝑥₅ = 3.25, then the Maximum Likelihood Estimator of 𝜆 is