QUESTION6. a. Explain the meaning of Weighted Index Numbers. b. Information of sales price per unit of different commodities for two different years is given in following table
QUESTION6. a. Explain the meaning of Weighted Index Numbers.
Answer6a. When all commodities are not of equal importance. We assign weight to each commodity relative to its importance and index number computed from these weights is called weighted
- Information of sales price per unit of different commodities for two different years is given in following table-
Construct the Price Index taking 2010 as the base year and 2016 as the current year by following methods.
- Laspeyre’s Price Index
- Paasche’s Method
iii. Dorbish and Bowley’s method
- Fisher’s Ideal Index Method
Answer6b.
The
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