The Price Index Was 92 in 2005 And,between 2005 and 2006,the

question 121

Multiple Choice

The price index was 92 in 2005 and,between 2005 and 2006,the inflation rate was 13 percent.The price index in 2006 was

• A)103.96.
• B)105.00.
• C)113.00.
• D)None of the above is correct.

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Definitions:

Null Hypothesis

A hypothesis that there is no significant difference or effect, serving as the default assumption that is tested against.

Error Hypothesis

A statement positing the existence of a difference or effect, used in the context of hypothesis testing to denote a hypothesis that is tested for being in error relative to the null.

Larger Population

Refers to a bigger group or category of individuals from which samples can be drawn for statistical analysis.

Smaller Sample

A subset of a population that contains fewer observations, which may affect the reliability of statistical conclusions.