The cost of living index is primarily used for: MCQ with Answer and Explanation

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The cost of living index is primarily used for:

A. Adjusting salaries and wages

B. Forecasting exports

C. Computing GDP

D. Measuring agricultural output

Answer: Option A

Solution (By JKSSB Mock Tests)

It measures changes in the cost of living, used to adjust dearness allowance and wages.

This question belongs to: Accountancy and Statistics Statistics

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Question #1

The process of arranging data in rows and columns is called:

A. Classification

B. Tabulation

C. Compilation

D. Summarization

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Correct Answer: Option B

Explanation:
Tabulation is the systematic arrangement of data in rows and columns for easy comparison and analysis.

This question belongs to: Accountancy and Statistics Statistics

Question #2

A sample survey collects data from a sample to:

A. Issue passports

B. Register births

C. Count entire population

D. Make inferences about the population

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Correct Answer: Option D

Explanation:
Sample surveys aim to estimate population parameters.

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Question #3

Which of the following is a measure of dispersion?

A. Standard deviation

B. Geometric mean

C. Mode

D. Median

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Correct Answer: Option A

Explanation:
Standard deviation measures spread.

This question belongs to: Accountancy and Statistics Statistics

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