The Wholesale Price Index (WPI) base year 2011-12 includes: MCQ with Answer and Explanation

Question
The Wholesale Price Index (WPI) base year 2011-12 includes:
A. Services
B. Only food articles
C. Goods only, grouped into primary, fuel, and manufactured products
D. Consumer durables only
Answer: Option C
Solution (By JKSSB Mock Tests)
WPI basket comprises goods under three major groups: Primary Articles, Fuel & Power, Manufactured Products.
This question belongs to: Accountancy and Statistics Statistics
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Practice More Statistics Questions

Question #1
Which of the following is not a vital event?
A. Marriage
B. Graduation
C. Death
D. Birth
Discuss
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Correct Answer: Option B

Explanation:
Vital events refer to births, deaths, marriages, and divorces.
This question belongs to: Accountancy and Statistics Statistics
Question #2
The mode of a continuous frequency distribution can be estimated using the formula:
A. L + [(f₀ - f₁) / (f₀ + f₁)] × h
B. L + [(f₁ - f₀) / (f₁ - f₂)] × h
C. L + (h / 2)
D. L + [(f₁ - f₀) / (2f₁ - f₀ - f₂)] × h
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Correct Answer: Option D

Explanation:
For grouped data, mode = L + [(f₁ - f₀) / (2f₁ - f₀ - f₂)] × h, where L=lower limit of modal class, f₁=frequency of modal class, f₀=previous class frequency, f₂=next class frequency, h=class width.
This question belongs to: Accountancy and Statistics Statistics
Question #3
The main disadvantage of direct observation method is:
A. Low accuracy
B. Limited to observable behavior, cannot capture attitudes
C. High cost
D. High non-response
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Correct Answer: Option B

Explanation:
Observation only records external actions; it cannot reveal opinions, motives, or internal states.
This question belongs to: Accountancy and Statistics Statistics
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