WPI basket does not include: MCQ with Answer and Explanation

WPI basket does not include:
A. Fuel and power
B. Primary articles
C. Services
D. Manufactured products
Answer: Option C
Solution (By JKSSB Mock Tests)
WPI covers goods only; services are excluded.

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Practice More Statistics Questions

Question #1
A frequency distribution where the upper limit of one class is the lower limit of the next class is called:
A. Cumulative series
B. Inclusive series
C. Exclusive series
D. Discrete series

Correct Answer: Option C


Explanation:
In an exclusive series (e.g., 10-20, 20-30), the upper limit is excluded from that class and included in the next.

This question belongs to: Accountancy and Statistics Statistics
Question #2
If P(A)=0.2 and P(B)=0.3, the minimum possible value of P(A∪B) is:
A. 0.1
B. 0.2
C. 0.5
D. 0.3

Correct Answer: Option D


Explanation:
Minimum occurs when one event is subset of the other; if B⊂A, then P(A∪B)=P(A)=0.2. But A cannot be larger than B? Actually min union is max(P(A),P(B)) = 0.3.

This question belongs to: Accountancy and Statistics Statistics
Question #3
Net Reproduction Rate (NRR) incorporates which additional factor compared to GRR?
A. Male fertility
B. Female mortality before reproductive age
C. Migration rates
D. Economic development index

Correct Answer: Option B


Explanation:
NRR adjusts GRR by multiplying age-specific fertility rates by the probability of surviving to each age, accounting for female deaths before childbearing years to assess true generational replacement.

This question belongs to: Accountancy and Statistics Statistics