If the current WPI is 140 and base year WPI is 100, the inflation rate is: MCQ with Answer and Explanation

If the current WPI is 140 and base year WPI is 100, the inflation rate is:

A. 100%

B. 140%

C. 40%

D. 28.6%

Answer: Option C

Inflation rate = (140 - 100)/100 × 100% = 40%.

This question belongs to: Accountancy and Statistics Statistics

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Question #1 Report Error

The method of collecting primary data where the informant is contacted through telephone is called:

A. Telephonic interview

B. Mailed questionnaire

C. Indirect oral investigation

D. Direct personal interview

Correct Answer: Option A

Explanation:
Telephonic interview involves asking questions over the phone.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

If P(A)=0.3, P(B)=0.5, and P(A∩B)=0.15, then A and B are:

A. Dependent

B. Mutually exclusive

C. Both mutually exclusive and independent

D. Independent

Correct Answer: Option D

Explanation:
P(A)P(B) = 0.3×0.5 = 0.15 = P(A∩B), satisfying the condition for independence.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

Data classified based on geographical areas such as countries, states, or cities is known as:

A. Quantitative classification

B. Chronological classification

C. Qualitative classification

D. Spatial classification

Correct Answer: Option D

Explanation:
Spatial or geographical classification groups data according to physical locations or regions.

This question belongs to: Accountancy and Statistics Statistics