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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
Define Laspeyre’s price index number
Write note on Fisher’s price index number
State the test of adequacy of index number
Define Time Reversal Test
Define true value ratio
Discuss about Cost of Living Index Number
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 |
Calculate the cost of living index by aggregate expenditure method:
| Commodity | Weight 2010 |
Price (Rs.) | |
| 2010 | 2015 | ||
| P | 80 | 22 | 25 |
| Q | 30 | 30 | 45 |
| R | 25 | 42 | 50 |
| S | 40 | 25 | 35 |
| T | 50 | 36 | 52 |
Choose the correct alternative:
Consumer price index are obtained by:
Using the following data, construct Fisher’s Ideal Index Number and Show that it satisfies Factor Reversal Test and Time Reversal Test?
| Commodities | Price | Quantity | ||
| Base Year | Current Year | Base Year | Current Year | |
| Wheat | 6 | 10 | 50 | 56 |
| Ghee | 2 | 2 | 100 | 120 |
| Firewood | 4 | 6 | 60 | 60 |
| Sugar | 10 | 12 | 30 | 24 |
| Cloth | 8 | 12 | 40 | 36 |
