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प्रश्न
Define Index Number
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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.
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संबंधित प्रश्न
Features of index numbers:
- It is useful in framing suitable economic policies.
- It is useful to present financial data in real terms
- Index numbers are statistical devices.
- Index numbers are specialized averages.
Index numbers that measure changes in the level of output or physical volume of production in the economy −
Device that measures changes in an economic variable or a group of variables over a period of time –
Write note on Fisher’s price index number
State the test of adequacy of index number
Discuss about Cost of Living Index Number
Calculate by a suitable method, the index number of price from the following data:
| Commodity | 2002 | 2012 | ||
| Price | Quantity | Price | Quantity | |
| A | 10 | 20 | 16 | 10 |
| B | 12 | 34 | 18 | 42 |
| C | 15 | 30 | 20 | 26 |
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 |
State with reasons whether you agree or disagree with the following statement:
Index number measures changes in the price level only.
The base year's index of a selected variable is assumed as ______.
