The CPI is used for: MCQ with Answer and Explanation

The CPI is used for:
A. Measuring industrial growth
B. Calculating national income
C. Calculating agricultural output
D. Determining dearness allowance and wage revision
Answer: Option D
Solution (By JKExamLibrary)
CPI measures changes in the cost of living and is used to adjust wages and allowances.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error
In a frequency distribution, the class width is 8, and the mid-value of a class is 42. The lower limit of that class is:
A. 34
B. 36
C. 40
D. 38

Correct Answer: Option D


Explanation:
Lower limit = mid-value - width/2 = 42 - 4 = 38.

This question belongs to: Accountancy and Statistics Statistics
Question #2 Report Error
Which of the following is a source of secondary data?
A. Data collected through experiment
B. Personal diary of the investigator
C. Direct observation of traffic
D. Unpublished thesis records

Correct Answer: Option D


Explanation:
An unpublished thesis is a document containing data originally collected by someone else, making it secondary data for another researcher.

This question belongs to: Accountancy and Statistics Statistics
Question #3 Report Error
The probability of getting a sum of 7 when two dice are rolled is:
A. 1/6
B. 6/36
C. 1/36
D. 5/36

Correct Answer: Option A


Explanation:
6 favorable pairs out of 36 = 6/36 = 1/6. Option D is also 6/36 but simplifies to 1/6. Use A.

This question belongs to: Accountancy and Statistics Statistics