Chain base index numbers compare each period with: MCQ with Answer and Explanation

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Chain base index numbers compare each period with:

A. The immediately preceding period

B. The first period

C. An average period

D. A fixed base period

Answer: Option A

Solution (By JKSSB Mock Tests)

Chain base indices use link relatives, where each period is the base for the next.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

If A and B are independent, then P(A|B) equals:

A. P(A∩B)

B. P(A) + P(B)

C. P(A)

D. P(B)

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Correct Answer: Option C

Explanation:
Independence means the occurrence of B does not affect the probability of A.

This question belongs to: Accountancy and Statistics Statistics

Question #2

Consumer Price Index (CPI) is most relevant for:

A. Assessing changes in the cost of living for households

B. Calculating export competitiveness

C. Measuring producer cost inflation

D. Setting wholesale trade policies

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Correct Answer: Option A

Explanation:
CPI measures average price changes paid by consumers for a basket of goods and services, directly indicating inflation's impact on household purchasing power and cost of living.

This question belongs to: Accountancy and Statistics Statistics

Question #3

Which of the following is a quantitative classification?

A. Height in centimeters

B. Nationality

C. Religion

D. Gender

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Correct Answer: Option A

Explanation:
Height is a measurable quantity, hence quantitative classification.

This question belongs to: Accountancy and Statistics Statistics

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