Consumer Price Index (CPI) includes which of the following that WPI typically excludes? MCQ with Answer and Explanation

Consumer Price Index (CPI) includes which of the following that WPI typically excludes?
A. Food prices
B. Fuel prices
C. Services like healthcare and education
D. Industrial raw materials
Answer: Option C
Solution (By JKSSB Mock Tests)
CPI covers a broader basket including consumer services (healthcare, education, transport), while WPI focuses mainly on goods, making CPI more comprehensive for cost-of-living assessment.

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Practice More Statistics Questions

Question #1
Data compiled from several sources and presented in a unified manner is an example of:
A. Experimental data
B. Primary data
C. Secondary data
D. Raw data

Correct Answer: Option C


Explanation:
Compiled data from existing sources is secondary data.

This question belongs to: Accountancy and Statistics Statistics
Question #2
Which of the following pairs are mutually exclusive?
A. Drawing a heart and a queen from a deck
B. Getting an even number and a prime number on a die
C. Getting a 4 and an even number on a die
D. Getting a head and a tail in a single coin toss

Correct Answer: Option D


Explanation:
Head and tail cannot occur simultaneously in one toss.

This question belongs to: Accountancy and Statistics Statistics
Question #3
The sum of squares of deviations from the mean is:
A. Equal to the variance
B. Maximum
C. Zero
D. Minimum

Correct Answer: Option D


Explanation:
The sum of squared deviations from the mean is minimum; from any other point it would be larger.

This question belongs to: Accountancy and Statistics Statistics