By Far the Largest Category of Goods and Services in the CPI

question 188

Multiple Choice

By far the largest category of goods and services in the CPI basket is

• A)housing.
• B)transportation.
• C)education & communication.
• D)food & beverages.

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Definitions:

Variance

A statistical measure of the dispersion of a set of data points in a data set.

Deviations

The differences between observed values and the average of those values within a dataset.

Mean

The arithmetic average of a set of numbers, calculated as the sum of all values divided by the count of values.

Sample Variance

A measure of the dispersion or variability of a sample dataset, representing how much the data points differ from the sample mean.