WPI basket does not include: MCQ with Answer and Explanation

WPI basket does not include:

A. Fuel and power

B. Manufactured products

C. Primary articles

D. Services

Answer: Option D

WPI covers goods only; services are excluded.

This question belongs to: Accountancy and Statistics Statistics

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Question #1 Report Error

The data (A)=100, (AB)=120 is:

A. Independence

B. Complete association

C. Consistent

D. Inconsistent

Correct Answer: Option D

Explanation:
(AB) cannot exceed (A); thus data are inconsistent.

This question belongs to: Accountancy and Statistics Statistics

Question #2 Report Error

Which of the following is a necessary condition for consistency of data for two attributes?

A. (A) ≥ (AB)

B. (αβ) ≥ 0

C. All of these

D. (AB) ≥ 0

Correct Answer: Option C

Explanation:
All ultimate class frequencies must be non-negative, and marginal conditions like (A) ≥ (AB) must hold.

This question belongs to: Accountancy and Statistics Statistics

Question #3 Report Error

The base year of All India CPI (Combined) is:

A. 2010

B. 2012

C. 2016

D. 2011-12

Correct Answer: Option B

Explanation:
The current CPI series has base year 2012.

This question belongs to: Accountancy and Statistics Statistics