Choose the correct alternative : Fisher’s Price Number is given by - Mathematics and Statistics

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MCQ

Choose the correct alternative :

Fisher’s Price Number is given by

Options

  • `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((sum"p"_0"q"_0)/(sum"p"_1"q"_0) xx (sum"p"_0"q"_1)/(sum"p"_1"q"_1)) xx 100`

  • `sqrt((sum"p"_0"q"_1)/(sum"p"_0"q"_0) xx (sum"p"_1"q"_1)/(sum"p"_1"q"_0)) xx 100`

  • `sqrt((sum"p"_1"q"_0)/(sum"p"_1"q"_1) xx (sum"p"_0"q"_0)/(sum"p"_0"q"_1)) xx 100`

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Solution

Fisher’s Price Number is given by `sqrt((sum"p"_1"q"_0)/(sum"p"_0"q"_0) xx (sum"p"_1"q"_1)/(sum"p"_0"q"_1)) xx 100`.

Concept: Construction of Index Numbers - Weighted Aggregate Method
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Chapter 5: Index Numbers - Miscellaneous Exercise 5 [Page 90]

APPEARS IN

Balbharati Mathematics and Statistics 2 (Commerce) 12th Standard HSC Maharashtra State Board
Chapter 5 Index Numbers
Miscellaneous Exercise 5 | Q 1.1 | Page 90

RELATED QUESTIONS

If P01(L) = 90 and P01(P) = 40, find P01(D – B) and P01(F).


Given that Laspeyre’s and Dorbish-Bowley’s Price Index Numbers are 160.32 and 164.18 respectively, find Paasche’s Price Index Number.


Choose the correct alternative :

The price Index Number by Weighted Aggregate Method is given by ______.


Laspeyre’s Price Index Number is given by ______.


Laspeyre’s Price Index Number is given by _______.


`(sump_1q_0)/(sump_0q_0) xx 100` is Paasche’s Price Index Number.


State whether the following is True or False :

`sum("p"_1"q"_1)/("p"_0"q"_1)` is Laspeyre’s Price Index Number.


`(sum"p"_0sqrt("q"_0"q"_1))/(sum"p"_1sqrt("q"_0"q"_1)) xx 100` is Walsh’s Price Index Number.


Solve the following problem :

Calculate Walsh’s Price Index Number for the following data.

Commodity Base year Current year
  Price
p0
Quantity
q0
Price
p1
Quantity
q1
I 8 30 12 25
II 10 42 20 16

Find x if Laspeyre’s Price Index Number is same as Paasche’s Price Index Number for the following data

Commodity Base Year Current Year
  Price
p0
Quantity
q0
Price
p1
Quantity
q1
A 3 x 2 5
B 4 6 3 5

Solve the following problem :

Given that Laspeyre’s and Paasche’s Price Index Numbers are 25 and 16 respectively, find Dorbish-Bowley’s and Fisher’s Price Index Number.


Choose the correct alternative:

Price Index Number by using Weighted Aggregate Method is given by


Choose the correct alternative:

Dorbish–Bowley’s Price Index Number is


Choose the correct alternative:

Fisher’s Price Index Number is


State whether the following statement is True or False:

Walsh’s Price Index Number is given by `(sum"p"_1sqrt("q"_0"q"_1))/(sum"p"_0sqrt("q"_0"q"_1)) xx 100`


State whether the following statement is True or False:

`[sqrt((sum"p"_1"q"_1)/(sum"p"_0"q"_1)) + (sumsqrt("q"_0"q"_1))/(sum("p"_0 + "p"_1))] xx 100` is Fisher’s Price Index Number.


Calculate Walsh’s price Index Number for the following data.

Commodity Base Year Current Year
Price Quantity Price Quantity
I 10 12 40 3
II 20 2 25 8
III 30 3 50 27
IV 60 9 90 36

If P01(L) = 40 and P01(P) = 90, find P01(D-B) and P01(F).


If Laspeyre’s and Paasche’s Price Index Numbers are 50 and 72 respectively, find Dorbish-Bowley’s and Fisher’s Price Index Numbers


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)


Find the missing price if Laspeyre’s and Paasche’s Price Index Numbers are equal for following data.

Commodity Base Year Current Year
Price Quantity Price Quantity
A 1 10 2 5
B 1 12

Given the following table, find Walsh’s Price Index Number by completing the activity.

Commodity p0 q0 p1 q1 q0q1 `sqrt("q"_0"q"_1)` p0`sqrt("q"_0"q"_1)` p1`sqrt("q"_0"q"_1)`
I 20 9 30 4 36 `square` `square` 180
II 10 5 50 5 `square` 5 50 `square`
III 40 8 10 2 16 `square` 160 `square`
IV 30 4 20 1 `square` 2 `square` 40
Total     390 `square`

Walsh’s price Index Number is

P01(W) = `square/(sum"p"_0sqrt("q"_0"q"_1)) xx 100`

= `510/square xx 100`

= `square`


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.


If P01 (L) = 121, P01 (P) = 100, then P01 (F) = ______.


Complete the following activity to calculate, Laspeyre's and Paasche's Price Index Number for the following data :

Commodity Base Year Current Year
Price
p0
Quantity
q0
Price
p1
Quantity
q1
I 8 30 12 25
II 10 42 20 16

Solution:

Commodity Base Year Current Year p1q0 p0q0 p1q1 p0q1
  p0 q0 p1 q1
I 8 30 12 25 360 240 300 200
II 10 42 20 16 840 420 320 160
Total         `bb(sump_1q_0=1200)` `bb(sump_0q_0=660)` `bb(sump_1q_1=620)` `bb(sump_0q_1=360)`

Laspeyre's Price Index Number:

P01(L) = `(sum"p"_1"q"_0)/(sum"p"_0"q"_0) xx 100 = square/660xx100`

∴ P01(L) = `square`

Paasche 's Price Index Number:

P01(P) = `(sum"p"_1"q"_1)/(sum"p"_0"q"_1) xx 100=(620)/(square) xx 100`

∴ P01(P) = `square`


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