Cost of Living Index is essentially a type of: MCQ with Answer and Explanation

Question
Cost of Living Index is essentially a type of:
A. Wholesale Price Index
B. Producer Price Index
C. Export-Import Price Index
D. Consumer Price Index tailored to specific population groups
Answer: Option D
Solution (By JKSSB Mock Tests)
Cost of Living Index is a specialized CPI that reflects price changes for a consumption basket relevant to a particular demographic (e.g., industrial workers), used for wage adjustments and welfare analysis.
This question belongs to: Accountancy and Statistics Statistics
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Practice More Statistics Questions

Question #1
The arrangement of data in rows and columns is called:
A. Tabulation
B. Classification
C. Editing
D. Coding
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Correct Answer: Option A

Explanation:
Tabulation is the systematic presentation of data in tables with rows and columns.
This question belongs to: Accountancy and Statistics Statistics
Question #2
When rolling a fair die, the probability of getting a number greater than 4 is:
A. 1/2
B. 1/6
C. 2/3
D. 1/3
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Correct Answer: Option D

Explanation:
Numbers >4 are 5,6 → 2 out of 6 → probability = 1/3.
This question belongs to: Accountancy and Statistics Statistics
Question #3
TFR of 2.1 children per woman is called replacement-level fertility because it:
A. Results in zero population growth in the long run
B. Ensures population decline
C. Doubles population
D. Equals NRR=1 exactly
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Correct Answer: Option A

Explanation:
TFR of about 2.1 ensures each generation exactly replaces itself (assuming low mortality), leading to eventual zero growth.
This question belongs to: Accountancy and Statistics Statistics
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