If the Price Index Is P₁ in Year 1 and P₂

question 18

Multiple Choice

If the price index is P₁ in year 1 and P₂ in year 3, the average inflation rate per year over this period is calculated as

• A)[(P₂ - P₁)/P₁] x [100/2]
• B)[(P₁ - P₂)/P₂] x [100/2]
• C)[(P₁ - P₂)/P₂] x 100
• D)[(P₂ - P₁)/P₁] x 100
• E)(P₂ - P₁)x (100/2)

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Definitions:

Social Listening

The process of monitoring social media channels for mentions of your brand, competitors, product, and more.

Coverage Error

A statistical error that occurs when some members of the intended population are not represented in the sampling frame.

Sampling Frame

The list or database from which a sample is drawn in research, representing the population of interest.

Sampling Error

The discrepancy between the statistical characteristics of a population and those of a sample drawn from it, which occurs purely by chance.