WPI covers: MCQ with Answer and Explanation

WPI covers:
A. Goods only (primary, fuel, manufactured)
B. All goods and services
C. Only agricultural goods
D. Services
Answer: Option A
Solution (By JKExamLibrary)
WPI tracks price movements of goods at the wholesale level, excluding services.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1 Report Error
The Median of the dataset: 12, 15, 10, 18, 20 is:
A. 10
B. 15
C. 12
D. 18

Correct Answer: Option B


Explanation:
First, arrange in order: 10, 12, 15, 18, 20. The middle value (3rd item) is 15.

This question belongs to: Accountancy and Statistics Statistics
Question #2 Report Error
Assertion (A): Mailed questionnaire method is suitable when the informants are illiterate. Reason (R): Mailed questionnaire does not require any personal interaction. Choose the correct option:
A. A is true, R is false
B. A is false, R is true
C. Both A and R are true, but R is not the correct explanation of A
D. Both A and R are true, and R is the correct explanation of A

Correct Answer: Option B


Explanation:
Mailed questionnaire is unsuitable for illiterates because they cannot read/write. The reason (no personal interaction) is true but does not make it suitable for illiterates; in fact, it makes it worse.

This question belongs to: Accountancy and Statistics Statistics
Question #3 Report Error
If P(A)=0.7, P(B)=0.6, and the maximum possible value of P(A∩B) is 0.6, then the minimum possible value of P(A∪B) is:
A. 1.0
B. 0.7
C. 0.6
D. 0.8

Correct Answer: Option B


Explanation:
P(A∪B) = P(A)+P(B)-P(A∩B). To minimize union, maximize intersection: max=0.6. So min union = 0.7+0.6-0.6=0.7.

This question belongs to: Accountancy and Statistics Statistics