Fisher's Price Index Number is given by ______.

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Solution

Fisher's Price Index Number is given by `bb(underline(sqrt((sump_1q_0)/(sump_0q_0) xx (sump_1q_1)/(sump_0q_1)) xx 100))`.

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Construction of Index Numbers - Weighted Aggregate Method

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Chapter 2.5: Index Numbers - Q.2

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Chapter 2.5 Index Numbers
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Chapter 5 Index Numbers
Miscellaneous Exercise 5 | Q 2.1 | Page 91

RELATED QUESTIONS

Calculate Walsh’s Price Index Number.

Commodity	Base Year		Current Year
Commodity	Price	Quantity	Price	Quantity
L	4	16	3	19
M	6	16	8	14
N	8	28	7	32

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

Find x in the following table if Laspeyre’s and Paasche’s Price Index Numbers are equal.

Commodity	Base Year		Current year
Commodity	Price	Quantity	Price	Quantity
A	2	10	2	5
B	2	5	x	2

Choose the correct alternative :

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

Laspeyre’s Price Index Number is given by ______.

Choose the correct alternative :

Fisher’s Price Number is given by

Choose the correct alternative :

Walsh’s Price Index Number is given by

Fill in the blank :

Marshall-Edgeworth’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"_0)/(sum"p"_0"q"_0) xx (sum"p"_1"q"_0)/(sum"p"_0"q"_0) xx 100` is Dorbish-Bowley’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.

State whether the following is True or False :

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

Solve the following problem :

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
A	20	18	30	15
B	25	8	28	5
C	32	5	40	7
D	12	10	18	10

Solve the following problem :

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

If Laspeyre’s and Dorbish’s Price Index Numbers are 150.2 and 152.8 respectively, find Paasche’s Price Index Number.

Choose the correct alternative:

Price Index Number by using Weighted Aggregate Method is given by

Choose the correct alternative:

The formula P₀₁ = `(sum"p"_1"q"_0)/(sum"p"_0"q"_0) xx 100` is for

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:

`(sum"p"_0sqrt("q"_0 + "q"_1))/(sum"p"_1sqrt("q"_0 + "q"_1)) xx 100` is Marshall-Edgeworth Price Index Number

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

Commodity	Base Year		Current Year
Commodity	Price	Quantity	Price	Quantity
A	1	10	2	5
B	1	5	–	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) = ______.

`sqrt((sump_1q_0)/(sump_0q_0)) xx sqrt((sump_1q_1)/(sump_0q_1)) xx 100`

In the following table, Laspeyre's and Paasche's Price Index Numbers are equal. Complete the following activity to find x :

Commodity	Base Year		Current year
Commodity	Price	Quantity	Price	Quantity
A	2	10	2	5
B	2	5	x	2

Solution: P₀₁(L) = P₀₁(P)

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

`(20 + 5x)/square xx 100 = square/14 xx 100`

∴ x = `square`

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

Commodity	Base Year		Current Year
Commodity	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	p₁q₀	p₀q₀	p₁q₁	p₀q₁
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`

Fisher's Price Index Number is given by ______.

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