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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

ENGR.ECONOMIC ANALYSIS
ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
Section: Chapter Questions
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  1. 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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