The index that measures changes in retail prices for industrial workers is: MCQ with Answer and Explanation

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The index that measures changes in retail prices for industrial workers is:

A. WPI

B. CPI-IW

C. GDP deflator

D. CPI-AL

Answer: Option B

Solution (By JKSSB Mock Tests)

Consumer Price Index for Industrial Workers (CPI-IW) is designed to measure the cost of living for working-class families.

This question belongs to: Accountancy and Statistics Statistics

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Practice More Statistics Questions

Question #1

Data collected for the first time by an investigator for a specific purpose is called:

A. Secondary data

B. Primary data

C. Published data

D. Compiled data

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Correct Answer: Option B

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

This question belongs to: Accountancy and Statistics Statistics

Question #2

Assertion (A): The probability of an impossible event is zero. Reason (R): The sample space of an impossible event contains all outcomes.

A. Both A and R are true but R is NOT the correct explanation of A

B. Both A and R are true and R is the correct explanation of A

C. A is false but R is true

D. A is true but R is false

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Correct Answer: Option D

Explanation:
A is true, but R is false because the sample space (or favorable outcomes set) of an impossible event is the empty set (Φ).

This question belongs to: Accountancy and Statistics Statistics

Question #3

A speaks truth in 70% cases, B in 80% cases. In what percentage of cases are they likely to contradict each other in stating the same fact?

A. 50%

B. 38%

C. 44%

D. 56%

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Correct Answer: Option B

Explanation:
Contradiction = P(A truth and B lie) + P(A lie and B truth) = 0.7×0.2 + 0.3×0.8 = 0.14+0.24=0.38=38%.

This question belongs to: Accountancy and Statistics Statistics

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