Solve Q(10) prices of six different commodities for 1989 and 1990.Compute a price index by (i) simple aggregative method and (ii) average ofprice relative method by using both arithmetic mean and geometric mean,taking 1989 as base.forse58CommodityABEFPrice in 1989 (Rs.)4060205080100Price in 1990 ( Rs.)5060307090110Ans. (i) 117.14(ii) 122.92, 121.70.Q.10 Compute index numbers of prices from the following data taking 1981 as baseand using median as an average:PricesBYear8552181981766022198280662819838010095311984Ans. 100, 115.38, 126.92, 153.85,

Index number gauges how the average price of domestic goods has changed relative to the base year.…

Answered: Q.10 Compute index numbers of prices…

Q.10 Compute index numbers of prices from the following data taking 1981 as bas and using median as an average: Prices Year A B 1981 18 85 52 1982 22 76 60 1983 28 80 66 1984 31 95 80

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

Solve Q(10)

prices of six different commodities for 1989 and 1990.
Compute a price index by (i) simple aggregative method and (ii) average of
price relative method by using both arithmetic mean and geometric mean,
taking 1989 as base.
for
se
58
Commodity
A
B
E
F
Price in 1989 (Rs.)
40
60
20
50
80
100
Price in 1990 ( Rs.)
50
60
30
70
90
110
Ans. (i) 117.14
(ii) 122.92, 121.70.
Q.10 Compute index numbers of prices from the following data taking 1981 as base
and using median as an average:
Prices
B
Year
85
52
18
1981
76
60
22
1982
80
66
28
1983
80
100
95
31
1984
Ans. 100, 115.38, 126.92, 153.85,

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