The price relatives and weights of some products are given below. P r o d u c t s A B C D P r i c e r e l a t i v e s 120 110 105 115 W e i g h t s x + 1 x - 1 x - 2 x + 2 Write the formula used for finding Index. Find the value of x if the index for the set is 115 .

The price relatives and weights of some products are given below. Products A B C D Price relatives ( I ) 120 110 105 115 Weights ( w ) x + 1 x - 1 x - 2 x + 2 I W 120 x + 120 110 x - 110 105 x - 210 115 x + 230 We know that, Index = ∑ I W ∑ W ⇒ 115 = 120 x + 120 + 110 x - 110 + 105 x - 210 + 115 x + 230 x + 1 + x - 1 + x + 2 + x - 2 ⇒ 115 × 4 x = 450 x + 30 ⇒ 10 x = 30 ⇒ x = 3 Therefore, the value of x is 3 .

Calculate the weighted index number of the following data using the price relative method: Item A B C D E Base year(Quantity) 24 14 8 4 8 Base year(Price) 2 4 6 10 5 Current year(Price) 3 5 9 12 5

Given, Item A B C D E Base year(Quantity) 24 14 8 4 8 Base year(Price) 2 4 6 10 5 Current year(Price) 3 5 9 12 5 Now, finding the weighted index number of the following data using the price relative method: p 0 q 0 p 1 p 0 q 0 W R = p 1 p 0 × 100 R W A 2 24 3 48 150 7200 B 4 14 5 56 125 7000 C 6 8 9 48 150 7200 D 10 4 12 40 120 4800 E 5 8 5 40 100 4000 Σ W = 232 Σ R W = 30 , 200 Weighted index number p 01 = Σ R W Σ W = 30200 232 = 130 . 17

E M B I B E

Mathematics>Statistics>Index Numbers>Weighted Index Numbers

EASY

Earn 100

State the difference between weighted and unweighted index numbers

Important Questions on Index Numbers

EASY

Mathematics>Statistics>Index Numbers>Weighted Index Numbers

If Laspeyre’s price index is

625

and Paasche’s price index is

576

then Fisher’s ideal index is

EASY

Mathematics>Statistics>Index Numbers>Weighted Index Numbers

If Laspeyre’s price index is

289

and Paasche’s price index is

225

then Fisher’s ideal index is

EASY

Mathematics>Statistics>Index Numbers>Weighted Index Numbers

The consumer price index numbers for 1981 and 1982 to the base 1974 are

360

and

400

respectively. The consumer price index for 1981 to the base 1982 is

EASY

Mathematics>Statistics>Index Numbers>Weighted Index Numbers

The consumer price index in the year

2000

increases by

80 %

as compared to the base

1990

. A person I

1990

getting

R s . 80, 000

per annum should now get:

EASY

Mathematics>Statistics>Index Numbers>Weighted Index Numbers

Cotyledons are also called-

EASY

Mathematics>Statistics>Index Numbers>Weighted Index Numbers

Explain briefly about weighted index number.

EASY

Mathematics>Statistics>Index Numbers>Weighted Index Numbers

The price relatives and weights of some products are given below.

$\begin{matrix} P r o d u c t s & A & B & C & D \\ P r i c e r e l a t i v e s & 120 & 110 & 105 & 115 \\ W e i g h t s & x + 1 & x - 1 & x - 2 & x + 2 \end{matrix}$