If the Consumer Price Index Changes from 120 in the Year

question 105

Multiple Choice

If the Consumer Price Index changes from 120 in the year 2016 to 126 in the year 2018,the average rate of inflation per year over this two-year period is approximately

• A)6%.
• B)5%.
• C)3%.
• D)2.5%.
• E)1.5%.

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Definitions:

Significance Level

The chance of wrongly rejecting the true null hypothesis during a statistical examination.

Confidence Interval

A statistical range, with a given probability, that is likely to contain the true value of an unknown population parameter.

Mean Weekly Salary

The average amount of money earned by workers in a week, calculated by summing all weekly salaries and dividing by the number of salaries.

Female Employees

Women who are employed by an organization, company, or business.