The Wholesale Price Index (WPI) in India covers how many major groups? MCQ with Answer and Explanation

Question Report Error

The Wholesale Price Index (WPI) in India covers how many major groups?

A. 5

B. 3

C. 2

D. 4

Answer: Option B

Solution (By JKExamLibrary)

WPI comprises Primary Articles, Fuel & Power, and Manufactured Products.

This question belongs to: Accountancy and Statistics Statistics

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Question #1 Report Error

The main purpose of classification is to:

A. Make data look attractive

B. Reduce the bulk of data and bring out similarities

C. Remove all data

D. Increase the volume of data

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Correct Answer: Option B

Explanation:
Classification organizes data into homogeneous groups for analysis.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

The harmonic mean gives more weight to:

A. Smaller values

B. Middle values

C. Larger values

D. All values equally

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Correct Answer: Option A

Explanation:
HM is the reciprocal of the arithmetic mean of reciprocals, so smaller numbers have larger reciprocals and thus greater influence.

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Question #3 Report Error

Which of the following is a direct measure of fertility?

A. Crude birth rate

B. Total fertility rate

C. All of the above

D. Child-Woman ratio

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Correct Answer: Option C

Explanation:
All are measures of fertility, though TFR is more refined.

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