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प्रश्न
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 |
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उत्तर
| Commodity | 1996 (Base year) |
1999 (Current year) |
p0q0 | p0q1 | p1q0 | p1q1 | ||
| p0 | q0 | p1 | q1 | |||||
| A | 5 | 10 | 4 | 12 | 50 | 60 | 40 | 48 |
| B | 8 | 6 | 7 | 7 | 48 | 56 | 42 | 49 |
| C | 6 | 3 | 5 | 4 | 18 | 24 | 15 | 20 |
| Total | `sum"p"_0"q"_0` = 116 | `sum"p"_0"q"_1` = 140 | `sum"p"_1"q"_0` = 97 | `sum"p"_1"q"_0` = 117 | ||||
Fisher’s Index number
`"P"_01^"F" = sqrt((sum"p"_1"q"_0)/(sum"p"_0"q"_0) xx (sum"p"_1"q"_1)/(sum"p"_0"q"_1)) xx 100`
= `sqrt(97/116 xx 117/140) xx 100`
= `sqrt(11349/16240) xx 100`
= `sqrt(0.6988) xx 100`
= `0.8359 xx 100`
= 83.59
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संबंधित प्रश्न
Statements that are incorrect in relation to index numbers:
- An index number is a geographical tool.
- Index numbers measure changes in air pressure.
- Index numbers measure relative changes in an economic variable.
- Index numbers are specialized averages.
State with reason whether you agree or disagree with the following statement:
Index numbers measure changes in the price level only.
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.
Assertion (A): Index numbers are statistical devices.
Reasoning (R): Index numbers measure only changes in the price level over a period of time.
Define Time Reversal Test
Calculate price index number for 2005 by (a) Laspeyre’s (b) Paasche’s method
| Commodity | 1995 | 2005 | ||
| Price | Quantity | Price | Quantity | |
| A | 5 | 60 | 15 | 70 |
| B | 4 | 20 | 8 | 35 |
| C | 3 | 15 | 6 | 20 |
Calculate Fisher’s index number to the following data. Also show that it satisfies Time Reversal Test.
| Commodity | 2016 | 2017 | ||
| Price (Rs.) | Quantity (kg) | Price (Rs.) | Quantity (kg) | |
| Food | 40 | 12 | 65 | 14 |
| Fuel | 72 | 14 | 78 | 20 |
| Clothing | 36 | 10 | 36 | 15 |
| Wheat | 20 | 6 | 42 | 4 |
| Others | 46 | 8 | 52 | 6 |
Choose the correct alternative:
Which of the following Index number satisfy the time reversal test?
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 ______.
