Which index is generally used to measure inflation at the wholesale level in India? MCQ with Answer and Explanation

Which index is generally used to measure inflation at the wholesale level in India?

A. WPI

B. Sensex

C. GDP deflator

D. CPI

Answer: Option A

Wholesale Price Index (WPI) measures changes in prices at the wholesale level.

This question belongs to: Accountancy and Statistics Statistics

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Question #1 Report Error

A frequency distribution that uses 'less than' or 'more than' type classes is called:

A. Grouped frequency distribution

B. Cumulative frequency distribution

C. Simple frequency distribution

D. Bivariate frequency distribution

Correct Answer: Option B

Explanation:
Cumulative frequency distributions sum frequencies up to a point or from a point.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

Given P(A)=0.7, P(B)=0.5, and P(A∩B)=0.45. Which statement is correct?

A. A and B are dependent, and P(A|B) = 0.9.

B. A and B are independent.

C. A and B are mutually exclusive.

D. P(A∪B) = 0.8.

Correct Answer: Option A

Explanation:
P(A|B)=0.45/0.5=0.9 ≠ P(A)=0.7, so dependent. P(A∪B)=0.7+0.5-0.45=0.75 ≠ 0.8.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

A researcher wants to ensure every individual in a population has an equal chance of being selected. She should use:

A. Snowball sampling

B. Simple random sampling

C. Purposive sampling

D. Quota sampling

Correct Answer: Option B

Explanation:
Simple random sampling gives each member an equal probability of selection.

This question belongs to: Accountancy and Statistics Statistics