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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
Index numbers that measure changes in the level of output or physical volume of production in the economy −
Write note on Fisher’s price index number
Define Time Reversal Test
Choose the correct alternative:
Laspeyre’s index = 110, Paasche’s index = 108, then Fisher’s Ideal index is equal to:
Choose the correct alternative:
Consumer price index are obtained by:
An Enquiry was made into the budgets of the middle class families in a city gave the following information.
| Expenditure | Food | Rent | Clothing | Fuel | Rice |
| Price(2010) | 150 | 50 | 100 | 20 | 60 |
| Price(2011) | 174 | 60 | 125 | 25 | 90 |
| Weights | 35 | 15 | 20 | 10 | 20 |
What changes in the cost of living have taken place in the middle class families of a city?
Explain the meaning of index number.
State with reasons whether you agree or disagree with the following statement:
Index number measures changes in the price level only.
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.
Complete the correlation:
P0 : ______ : : P1 : Current year price.
