Consumer Price Index (CPI) includes which of the following that WPI typically excludes? MCQ with Answer and Explanation

Consumer Price Index (CPI) includes which of the following that WPI typically excludes?

A. Fuel prices

B. Food prices

C. Services like healthcare and education

D. Industrial raw materials

Answer: Option C

Solution (By JKExamLibrary)

CPI covers a broader basket including consumer services (healthcare, education, transport), while WPI focuses mainly on goods, making CPI more comprehensive for cost-of-living assessment.

This question belongs to: Accountancy and Statistics Statistics

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Statistics Questions

Question #1 Report Error

If in a moderately skewed distribution mean = 30 and median = 28, the empirical mode is approximately:

A. 24

B. 26

C. 22

D. 32

View Answer & Solution Discuss

Correct Answer: Option A

Explanation:
Using the empirical relation: Mode ≈ 3Median - 2Mean = 3×28 - 2×30 = 84 - 60 = 24.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

The data collected from a sample is:

A. Census

B. Complete enumeration

C. Sample survey data

D. Vital registration

View Answer & Solution Discuss

Correct Answer: Option C

Explanation:
Sample survey collects data from a subset of the population.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

In an examination, 60% candidates passed in English (A), 50% in Math (B), and 30% in both (AB). Are attributes A and B independent?

A. Yes, they are independent

B. No, they are negatively associated

C. No, they are positively associated

D. Data is inconsistent

View Answer & Solution Discuss

Correct Answer: Option A

Explanation:
P(A) * P(B) = 0.6 * 0.5 = 0.3. Since P(AB) = 0.3, they are perfectly independent.

This question belongs to: Accountancy and Statistics Statistics

Explore All Statistics MCQs