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प्रश्न
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 |
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उत्तर
| Commodity | 1995 (Base year) |
2005 (Current year) |
p0q0 | p0q1 | p1q0 | p1q1 | ||
| p0 | q0 | p1 | q1 | |||||
| A | 5 | 60 | 15 | 70 | 300 | 350 | 900 | 1050 |
| B | 4 | 20 | 8 | 35 | 80 | 140 | 60 | 280 |
| C | 3 | 15 | 6 | 20 | 45 | 60 | 90 | 120 |
| Total | `sum"p"_0"q"_0` = 425 | `sum"p"_0"q"_0` = 550 | `sum"p"_1"q"_0` = 1150 | `sum"p"_1"q"_1` = 1450 | ||||
(a) Laspeyre’s price index number
`"P"_01^"L" = (sum"p"_1"q"_0)/(sum"p"_0"q"_0) xx 100`
= `1150/425 xx 100`
= 270.6
(b) Passche's price index
`"P"_01^"P" = (sum"p"_1"q"_1)/(sum"p"_0"q"_1) xx 100`
= `2230/550 xx 100`
= 405.5
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संबंधित प्रश्न
Explain the features of index numbers.
Index number which is computed from a single variable called is a ______.
Define Laspeyre’s price index number
Define true value ratio
Define family budget method
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 |
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:
Laspeyre’s index = 110, Paasche’s index = 108, then Fisher’s Ideal index is equal to:
Compute the consumer price index for 2015 on the basis of 2014 from the following data.
| Commodities | Quantities | Prices in 2015 | Prices in 2016 |
| A | 6 | 5.75 | 6.00 |
| B | 6 | 5.00 | 8.00 |
| C | 1 | 6.00 | 9.00 |
| D | 6 | 8.00 | 10.00 |
| E | 4 | 2.00 | 1.50 |
| F | 1 | 20.00 | 15.00 |
Read the given passage and answer the questions:
|
Index Number is a technique of measuring changes in a variable or group of related variables with reference to time, geographical location and other characteristics. Index Number is very useful for economists, farmers, traders, government, educationalists and trade union leaders for planning and implementing the plans according to their sector. The scope of index number is not limited to only one subject but it extends to many subjects such as Economics, Educational science, Psychology, History, Sociology, Geography etc. While framing index number its objective must be determined. To attain the objective the information is collected in various ways and this information is used for comparing two different time periods. For this purpose, the base year’s index is assumed as 100 and accordingly the value of the current year is calculated. Laspeyre, Paasche and Fisher have suggested different methods for constructing index numbers. |
- Explain the meaning of Index Number.
- To whom the Index Number is useful?
- Express your opinion about the given passage.
