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The price of wheat (per kg) is given for the vears 1964 to 1973. Calculate simple index numbers using insmeo i) 1964 as base year ii) average of the prices for the first five years as base iii) average of the prices of all the 10 years as base Year Price (Rs.) Year 1969 Price (Rs.) 27 1964 1965 1966 20 28 18 23 1970 1971 30 1967 32 24 25 1972 1973 1968 33

The price of wheat (per kg) is given for the vears 1964 to 1973. Calculate simple index numbers using insmeo i) 1964 as base year ii) average of the prices for the first five years as base iii) average of the prices of all the 10 years as base Year Price (Rs.) Year 1969 Price (Rs.) 27 1964 1965 1966 20 28 18 23 1970 1971 30 1967 32 24 25 1972 1973 1968 33

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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The price of wheat (per kg) is given for the vears 1964 to 1973. Calculate simple index numbers using insmeo i) 1964 as base year ii) average of the prices for the first five years as base iii) average of the prices of all the 10 years as base Year Price (Rs.) Year 1969 Price (Rs.) 27 1964 1965 1966 20 28 18 23 1970 1971 30 1967 32 24 25 1972 1973 1968 33
Transcribed Image Text:The price of wheat (per kg) is given for the vears 1964 to 1973. Calculate simple index numbers using insmeo i) 1964 as base year ii) average of the prices for the first five years as base iii) average of the prices of all the 10 years as base Year Price (Rs.) Year 1969 Price (Rs.) 27 1964 1965 1966 20 28 18 23 1970 1971 30 1967 32 24 25 1972 1973 1968 33
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