Which statistical device is used to calculate inflation?

Regression

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Price index

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Mean

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Standard deviation

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B Price index

Suggest Corrections

Similar questions

Which statistical device is used for measuring changes in the magnitude of a group of related variables such as price, the quantity of output, sales, and export?

Q. To calculate the impact of inflation on teachers, doctors, and engineers, which price index will be used?

Q. ______ in price is measured with the help of statistical device referred to as 'price index'.

Q. Which index is not used to measure inflation?

Q. Which index in India is used to evaluate inflation?

Join BYJU'S Learning Program