For a set of discrete values, which measure of central tendency minimizes the sum of squared deviations? MCQ with Answer and Explanation

Explanation:
CPI weights items according to their share in average household consumption expenditure, derived from consumer expenditure surveys, to reflect the cost of living for typical families.

Explanation:
WPI reflects price changes at the wholesale/producer level, serving as an early indicator of inflationary pressures in the production pipeline before they reach consumers via CPI.

Explanation:
Primary data is original data collected fresh for a particular research objective.