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प्रश्न
Write note on Fisher’s price index number
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उत्तर
Fisher defined a weighted index number as the geometric mean of Laspeyre’s index number and Paasche’s Index number
`"P"_01^"F" = sqrt((sum"p"_1"q"_0 xx sum"p"_1"q"_1)/(sum"p"_0"q"_0 xx sum"p"_0"q"_1)) xx 100`
The Fisher-price index number is also known as the “ideal” price index number.
This requires more data than the other two index numbers and as a result, may often be impracticable.
But this is a good index number because it satisfies both the time-reversal test and factor reversal test.
i.e `"P"_01^"F" xx "P"_10^"F"` = 1
And
`"P"_01^"F" xx "Q"_01^"F" = (sum "p"_1"q"_1)/(sum"p"_0"q"_0)`
APPEARS IN
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 reasons whether you agree or disagree with the following statement:
Index numbers can be constructed without the base year.
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.
Explain Paasche’s price index number
Calculate by a suitable method, the index number of price from the following data:
| Commodity | 2002 | 2012 | ||
| Price | Quantity | Price | Quantity | |
| A | 10 | 20 | 16 | 10 |
| B | 12 | 34 | 18 | 42 |
| C | 15 | 30 | 20 | 26 |
State with reasons whether you agree or disagree with the following statement:
Index number measures changes in the price level only.
Choose the correct pair :
| Group A | Group B | ||
| 1) | Price Index | a) | `(sump_1q_1)/(sump_0q_0) xx100` |
| 2) | Value Index |
b) |
`(sumq_1)/(sumq_0) xx 100` |
| 3) | Quantity Index | c) | `(sump_1q_1)/(sump_0q_1) xx100` |
| 4) | Paasche's Index | d) | `(sump_1)/(sump_0) xx 100` |
The base year's index of a selected variable is assumed as ______.
Find the odd word out:
Features of Index Number:
Complete the correlation:
P0 : ______ : : P1 : Current year price.
