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प्रश्न
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 |
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उत्तर
| Group | Weight (W) |
Index Number (I) |
WI |
| Food | 48 | 2450 | 117600 |
| Fuel and Lighting | 20 | 1240 | 24800 |
| Clothing | 12 | 3250 | 39000 |
| Rent | 15 | 3750 | 56250 |
| Miscellaneous | 10 | 4190 | 41900 |
| Total | 105 | 279550 |
Cost of living index number = `(sum"WI")/(sum"W")`
= `279550/105`
= 2662.38
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संबंधित प्रश्न
State with reason whether you agree or disagree with the following statement:
Index numbers measure changes in the price level only.
State with reasons whether you agree or disagree with the following statement:
Index numbers can be constructed without the base year.
Device that measures changes in an economic variable or a group of variables over a period of time –
Index number was originally developed to measure ______.
State the uses of Index Number
Explain factor reversal test
Using the following data, construct Fisher’s Ideal index and show how it satisfies Factor Reversal Test and Time Reversal Test?
| Commodity | Price in Rupees per unit | Number of units | ||
| Basic year | Current year | Base year | Current year | |
| A | 6 | 10 | 50 | 56 |
| B | 2 | 2 | 100 | 120 |
| C | 4 | 6 | 60 | 60 |
| D | 10 | 12 | 50 | 24 |
| E | 8 | 12 | 40 | 36 |
Construct the cost of living Index number for 2015 on the basis of 2012 from the following data using family budget method.
| Commodity | Price | Weights | |
| 2012 | 2015 | ||
| Rice | 250 | 280 | 10 |
| Wheat | 70 | 85 | 5 |
| Corn | 150 | 170 | 6 |
| Oil | 25 | 35 | 4 |
| Dhal | 85 | 90 | 3 |
Choose the correct alternative:
Another name of consumer’s price index number is:
Choose the correct alternative:
Which of the following Index number satisfy the time reversal test?
