The CPI for agricultural labourers (CPI-AL) is used to: MCQ with Answer and Explanation

The CPI for agricultural labourers (CPI-AL) is used to:
A. Calculate GDP
B. Measure industrial growth
C. Adjust wages of agricultural labourers
D. Regulate stock market
Answer: Option C
Solution (By JKExamLibrary)
CPI-AL is primarily used to revise minimum wages for agricultural workers.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error
If a constant 5 is subtracted from all observations, the arithmetic mean:
A. Becomes 5 times
B. Decreases by 5
C. Increases by 5
D. Remains same

Correct Answer: Option B


Explanation:
Mean is affected by change of origin; subtracting 5 reduces mean by 5.

This question belongs to: Accountancy and Statistics Statistics
Question #2 Report Error
The combined mean of two groups with n₁=20, mean₁=50 and n₂=30, mean₂=60 is:
A. 56
B. 54
C. 55
D. 57

Correct Answer: Option A


Explanation:
Combined mean = (20×50 + 30×60) / (20+30) = (1000+1800)/50 = 2800/50 = 56.

This question belongs to: Accountancy and Statistics Statistics
Question #3 Report Error
Infant mortality rate and life expectancy at birth are generally:
A. Negatively correlated
B. Equal
C. Uncorrelated
D. Positively correlated

Correct Answer: Option A


Explanation:
Higher IMR is associated with lower life expectancy.

This question belongs to: Accountancy and Statistics Statistics