Advertisements
Advertisements
प्रश्न
Define Index Number
Advertisements
उत्तर
Index Numbers are the indicators which reflect the changes over a specified period of time in price of different commodities, production, sales, cost of living etc.
“An Index Number is a device which shows by its variations the change in a magnitude which is not capable of accurate measurements in itself or of direct valuation in practice”. – Wheldon
“An Index number is a statistical measure of fluctuations in a variable arranged in the form of a series and using a base. Period for maxing H comparisons” – Lawrence J Kalpan.
APPEARS IN
संबंधित प्रश्न
Explain the features of index numbers.
Find the odd word
Types of index numbers -
Identify & explain the concept from the given illustration.
Agricultural Research Institute constructed an index number to measure changes in the production of raw cotton in Maharashtra during the period 2015-2020.
State the uses of Index Number
Using Fisher’s Ideal Formula, compute price index number for 1999 with 1996 as base year, given the following:
| Year | Commodity: A | Commodity: B | Commodity: C | |||
| Price (Rs.) | Quantity (kg) | Price (Rs.) | Quantity (kg) | Price (Rs.) | Quantity (kg) | |
| 1996 | 5 | 10 | 8 | 6 | 6 | 3 |
| 1999 | 4 | 12 | 7 | 7 | 5 | 4 |
The following are the group index numbers and the group weights of an average working class family’s budget. Construct the cost of living index number:
| Groups | Food | Fuel and Lighting |
Clothing | Rent | Miscellaneous |
| Index Number | 2450 | 1240 | 3250 | 3750 | 4190 |
| Weight | 48 | 20 | 12 | 15 | 10 |
Choose the correct alternative:
Cost of living at two different cities can be compared with the help of
Explain the meaning of index number.
Choose the correct pair :
| Group A | Group B | ||
| 1) | Price Index | a) | `(sump_1q_1)/(sump_0q_0) xx100` |
| 2) | Value Index |
b) |
`(sumq_1)/(sumq_0) xx 100` |
| 3) | Quantity Index | c) | `(sump_1q_1)/(sump_0q_1) xx100` |
| 4) | Paasche's Index | d) | `(sump_1)/(sump_0) xx 100` |
The base year's index of a selected variable is assumed as ______.
