The Wholesale Price Index (WPI) in India covers how many major groups? MCQ with Answer and Explanation

Question
The Wholesale Price Index (WPI) in India covers how many major groups?
A. 4
B. 3
C. 5
D. 2
Answer: Option B
Solution (By JKSSB Mock Tests)
WPI comprises Primary Articles, Fuel & Power, and Manufactured Products.
This question belongs to: Accountancy and Statistics Statistics
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Practice More Statistics Questions

Question #1
When designing a questionnaire, multiple-choice questions are preferred over open-ended questions primarily because:
A. They take up less space
B. They eliminate all forms of bias
C. They are easier to tabulate and analyze objectively
D. They allow respondents to express complex feelings
Discuss
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Correct Answer: Option C

Explanation:
MCQs standardise responses, making data compilation, coding, and statistical tabulation much faster and uniform.
This question belongs to: Accountancy and Statistics Statistics
Question #2
Standardized Death Rate allows comparison by:
A. Applying age-specific rates to a common standard population
B. Ignoring age structure entirely
C. Using the same crude death rate formula for all populations
D. Focusing only on infant deaths
Discuss
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Correct Answer: Option A

Explanation:
SDR eliminates age structure effects by calculating what the death rate would be if the population had the age distribution of a standard population, enabling unbiased mortality comparisons.
This question belongs to: Accountancy and Statistics Statistics
Question #3
The combined mean of two groups is 50. If n₁=20, mean₁=45, and n₂=30, mean₂ is:
A. 55
B. 50
C. 52
D. 53.33
Discuss
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Correct Answer: Option D

Explanation:
50 = (20×45 + 30×mean₂) / 50 → 2500 = 900 + 30×mean₂ → mean₂ = 1600/30 = 53.33.
This question belongs to: Accountancy and Statistics Statistics
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