All of the Following Are Possible Sources of Bias in Using

question 85

Multiple Choice

All of the following are possible sources of bias in using the Consumer Price Index to measure inflation except

• A)an improvement in the quality of goods.
• B)an increase in the cost of living.
• C)rising prices.
• D)the introduction of new goods.
• E)commodity substitution.

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Definitions:

Standard Deviation

A way of measuring how much variety or distribution exists among numerical values.

Expected Value

In probability theory, a weighted average of all possible values of a random variable, reflecting its anticipated outcome.

Sample Proportion

A statistic that estimates the fraction of the population that has a certain trait, characteristic or behavior, calculated as the number of observations in the sample with that trait over the total sample size.

Probability

A measure of the likelihood that a particular event will occur, expressed as a number between 0 and 1.