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Calculate
a) Laspeyre’s
b) Passche’s
c) Dorbish-Bowley’s Price Index Numbers for following data.
| Commodity | Base Year | Current Year | ||
| Price | Quantity | Price | Quantity | |
| A | 10 | 9 | 50 | 8 |
| B | 20 | 5 | 60 | 4 |
| C | 30 | 7 | 70 | 3 |
| D | 40 | 8 | 80 | 2 |
Concept: Construction of Index Numbers >> Weighted Aggregate Method
Given P01(M-E) = 120, `sum"p"_1"q"_1` = 300, `sum"p"_0"q"_0` = 120, `sum"p"_0"q"_1` = 320, Find P01(L)
Concept: Construction of Index Numbers >> Weighted Aggregate Method
Find the missing wage if the Cost of Living Index for the following data is 150.
| Group | Food | Clothing | Fuel and Lighting |
House Rent |
Miscellaneous |
| I | 200 | 150 | 140 | 100 | 120 |
| W | 6 | 4 | x | 3 | 4 |
Concept: Method of Constructing Cost of Living Index Numbers - Family Budget Method
The Cost of Living Index Numbers for years 2003 and 2008 are 150 and 200 respectively. A person earned ₹ 18,000 per month in year 2003. What should be his earning per month in year 2008, so as to maintain same standard of living as 2003?
Concept: Uses of Cost of Living Index Number
State whether the following statement is true or false:
Dorbish-Bowley's Price Index Number is the square root of the product of Laspeyre's and Paasche's Index Numbers.
Concept: Construction of Index Numbers >> Weighted Aggregate Method
If P01 (L) = 121, P01 (P) = 100, then P01 (F) = ______.
Concept: Construction of Index Numbers >> Weighted Aggregate Method
Calculate the cost of living index number for the following data by aggregative expenditure method:
| Group | Base year | Current year | |
| Price | Quantity | Price | |
| Food | 120 | 15 | 170 |
| Clothing | 150 | 20 | 190 |
| Fuel and lighting | 130 | 30 | 220 |
| House rent | 160 | 10 | 180 |
| Miscellaneous | 200 | 11 | 220 |
Concept: Method of Constructing Cost of Living Index Numbers - Aggregative Expenditure Method
`sqrt((sump_1q_0)/(sump_0q_0)) xx sqrt((sump_1q_1)/(sump_0q_1)) xx 100`
Concept: Construction of Index Numbers >> Weighted Aggregate Method
Laspeyre’s Price Index Number uses current year’s quantities as weights.
Concept: Construction of Index Numbers >> Weighted Aggregate Method
Calculate Marshall – Edgeworth’s price index number for the following data:
| Commodity | Base year | Current year | ||
| Price | Quantity | Price | Quantity | |
| P | 12 | 20 | 18 | 24 |
| Q | 14 | 12 | 21 | 16 |
| R | 8 | 10 | 12 | 18 |
| S | 16 | 15 | 20 | 25 |
Concept: Construction of Index Numbers >> Weighted Aggregate Method
The cost of living index number using Weighted Relative Method is given by ______.
Concept: Cost of Living Index Number
The company makes concrete bricks made up of cement and sand. The weight of a concrete brick has to be at least 5 kg. Cement costs ₹ 20 per kg and sand costs of ₹ 6 per kg. Strength consideration dictates that a concrete brick should contain minimum 4 kg of cement and not more than 2 kg of sand. Form the L.P.P. for the cost to be minimum.
Concept: Linear Programming Problem (L.P.P.)
Feasible region is the set of points which satisfy ______.
Concept: Introduction of Linear Programming
A firm manufactures two products A and B on which profit earned per unit are ₹ 3 and ₹ 4 respectively. Each product is processed on two machines M1 and M2. The product A requires one minute of processing time on M1 and two minutes of processing time on M2, B requires one minute of processing time on M1 and one minute of processing time on M2. Machine M1 is available for use for 450 minutes while M2 is available for 600 minutes during any working day. Find the number of units of products A and B to be manufactured to get the maximum profit.
Concept: Linear Programming Problem (L.P.P.)
Solve the following L.P.P. by graphical method:
Maximize: Z = 10x + 25y
subject to 0 ≤ x ≤ 3,
0 ≤ y ≤ 3,
x + y ≤ 5.
Also find the maximum value of z.
Concept: Mathematical Formulation of Linear Programming Problem
Solve the following L.P.P. by graphical method:
Minimize: Z = 6x + 2y subject to x + 2y ≥ 3, x + 4y ≥ 4, 3x + y ≥ 3, x ≥ 0, y ≥ 0.
Concept: Mathematical Formulation of Linear Programming Problem
Objective function of LPP is ______.
Concept: Linear Programming Problem (L.P.P.)
The optimal value of the objective function is attained at the ______ points of the feasible region.
Concept: Linear Programming Problem (L.P.P.)
A train carries at least twice as many first class passengers (y) as second class passengers (x). The constraint is given by ______.
Concept: Linear Programming Problem (L.P.P.)
Graphical solution set of x ≤ 0, y ≥ 0 in xy system lies in second quadrant.
Concept: Mathematical Formulation of Linear Programming Problem
