The base year for the current series of Wholesale Price Index (WPI) introduced in 2017 is: MCQ with Answer and Explanation

Question
The base year for the current series of Wholesale Price Index (WPI) introduced in 2017 is:
A. 2004-05
B. 2017-18
C. 2011-12
D. 2015-16
Answer: Option C
Solution (By JKSSB Mock Tests)
The base year of the revised WPI series launched in 2017 is 2011-12.
This question belongs to: Accountancy and Statistics Statistics
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Practice More Statistics Questions

Question #1
The frequency of a class which specifies the absence of all attributes (e.g., (αβγ)) is a:
A. Zero order frequency
B. Contrary class frequency
C. Positive class frequency
D. Negative class frequency
Discuss
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Correct Answer: Option D

Explanation:
Classes represented by Greek letters denote the absence of attributes, hence their frequencies are negative class frequencies.
This question belongs to: Accountancy and Statistics Statistics
Question #2
Which of the following statements about demography is true?
A. Migration does not affect population change.
B. Vital statistics do not include marriages.
C. Demography studies only population size.
D. Census is a demographic tool for complete enumeration.
Discuss
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Correct Answer: Option D

Explanation:
Census is a complete count of a population. Demography also studies composition, distribution; vital statistics includes marriages; migration affects population change.
This question belongs to: Accountancy and Statistics Statistics
Question #3
Index numbers are generally known as:
A. Statistical multipliers
B. Trend setters
C. Demographic indicators
D. Economic barometers
Discuss
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Correct Answer: Option D

Explanation:
Index numbers measure changes in the level of an economic phenomenon over time, earning the title 'economic barometers'.
This question belongs to: Accountancy and Statistics Statistics
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