In Addition to the Consumer Price Index,the Bureau of Labor

question 148

Multiple Choice

In addition to the consumer price index,the Bureau of Labor Statistics also calculates the

• A)macroeconomic price index.
• B)producer price index.
• C)rental unit price index.
• D)terms of trade.

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Definitions:

Mean Square Error

A statistical measure indicating the average of the squares of the errors or deviations—i.e., the difference between the estimator and what is estimated.

F Statistic

A ratio used in statistical analysis to determine the relationship between variances and to test hypotheses about the means of several populations.

Alternative Hypothesis

In statistical hypothesis testing, it is the hypothesis that suggests there is a difference or effect, in contrast to the null hypothesis which suggests no effect or difference.

Population Mean

The average characteristic or measure of a total population, representing a central or typical value of the population data.