Consumer Price Index (CPI) measures changes in: MCQ with Answer and Explanation

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Consumer Price Index (CPI) measures changes in:

A. Industrial production

B. Wholesale prices

C. Retail prices of a fixed basket of goods and services

D. Export prices

Answer: Option C

Solution (By JKExamLibrary)

CPI tracks the average change over time in the prices paid by consumers for a market basket of goods and services.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error

Perinatal Mortality Rate is a key indicator for:

A. Educational attainment

B. Environmental pollution levels

C. Economic growth

D. Effectiveness of maternal and newborn health interventions around childbirth

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Correct Answer: Option D

Explanation:
Perinatal mortality reflects the quality of antenatal care, skilled attendance at birth, and immediate newborn care, making it a sensitive measure for evaluating maternal-child health programs.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

If the arithmetic mean of a distribution is 25 and the median is 24, the distribution is likely:

A. Positively skewed

B. Negatively skewed

C. Bimodal

D. Symmetric

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Correct Answer: Option A

Explanation:
Mean > Median indicates positive skewness (right-skewed).

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

Which of the following is true about the median?

A. It is always greater than the mean.

B. It is affected by extreme values.

C. It is based on all observations.

D. It can be computed for ordinal data.

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Correct Answer: Option D

Explanation:
Median requires only ranking, so it is suitable for ordinal data.

This question belongs to: Accountancy and Statistics Statistics

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