The Consumer Price Index (CPI) is used to measure: MCQ with Answer and Explanation

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The Consumer Price Index (CPI) is used to measure:

A. Change in cost of living for households.

B. Industrial production.

C. Foreign exchange reserves.

D. Inflation at wholesale level.

Answer: Option A

Solution (By JKSSB Mock Tests)

CPI measures retail price changes affecting households' cost of living.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

If the arithmetic mean of 7 numbers is 12, the sum of these numbers is:

A. 7

B. 12

C. 84

D. 19

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Correct Answer: Option C

Explanation:
Sum = mean × n = 12 × 7 = 84.

This question belongs to: Accountancy and Statistics Statistics

Question #2

Which of the following is a characteristic of a good question in a questionnaire?

A. Being clear and concise

B. Being double-barreled

C. Asking personal questions first

D. Using ambiguous words

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Correct Answer: Option A

Explanation:
Clarity and conciseness prevent confusion.

This question belongs to: Accountancy and Statistics Statistics

Question #3

A mode can be located graphically with the help of a:

A. Frequency Curve

B. Ogive

C. Bar chart

D. Histogram

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Correct Answer: Option D

Explanation:
By drawing a histogram, the mode is found by joining the top corners of the highest rectangle to the adjacent rectangles.

This question belongs to: Accountancy and Statistics Statistics

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