If the CPI Was 132

question 306

Multiple Choice

If the CPI was 132.5 at the end of last year and 137.5 at the end of this year, the inflation rate over these two years was

• A) 3.8 percent.
• B) 5.0 percent.
• C) 3.6 percent.
• D) None of the above answers is correct.

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Definitions:

Central Tendency

A statistical measure that identifies the single value that most accurately represents a set of data, commonly using the mean, median, or mode.

Comparative Evaluation

The process of comparing one set of data, elements, or situations with another to assess its value or performance in relation to a standard or another entity.

Ranking Method

A method of evaluating employees that ranks them from best to worst on some trait.

Forced Distributions

A performance evaluation method where employees are ranked and rated according to a predetermined distribution curve, often to identify top performers, average performers, and underperformers.