Right choice is (b) Modulation index
The explanation: The modulation index for an AM wave is defined as the ratio of change in the amplitude of the carrier wave to the amplitude of the original carrier wave.
μ = \( \frac {(Change \, in \, the \, amplitude \, of \, the \, carrier \, wave)}{(Amplitude \, of \, the \, original \, carrier \, wave)}\).