Construct the chain indices from the following price relatives of four commodities using geometric mean as an average. Price Relatives of Commodities Year A B C D 1951 14.6 21.6 250.0 119.0 1952 12.7 13.8 159.0 128.0 1953 12.1 15.0 130.0 111.0 1954 121.6 241.6 216.0 165.0
Construct the chain indices from the following price relatives of four commodities using geometric mean as an average. Price Relatives of Commodities Year A B C D 1951 14.6 21.6 250.0 119.0 1952 12.7 13.8 159.0 128.0 1953 12.1 15.0 130.0 111.0 1954 121.6 241.6 216.0 165.0
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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Question
- Construct the chain indices from the following price relatives of four commodities using geometric mean as an average.
|
Price Relatives of Commodities
|
|||
Year |
A |
B |
C |
D |
1951 |
14.6 |
21.6 |
250.0 |
119.0 |
1952 |
12.7 |
13.8 |
159.0 |
128.0 |
1953 |
12.1 |
15.0 |
130.0 |
111.0 |
1954 |
121.6 |
241.6 |
216.0 |
165.0 |
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