Retail price index, Mathematics

Assignment Help:

Retail price index

This is weighted average of price relatives based on an average household in the base year. The items consumed are divided into groups as liker food, transport, housing, alcoholic drinks, fuel, footwear, light, water, services household goods, e.t.c. all item involved in the index is described a weighting and a price relative to the base is calculated. Modified form of laspeyre's price index formula is utilized as a weighted arithmetic mean (a.m.) of price relatives.

 

    Retail Price index     179_Retail price index.png

 

The index is utilized by the Government as a guide in finding the minimum wages, pension rates unemployed benefits in UK. Trade unions employ, it as a basis for their wages claims.

 


Related Discussions:- Retail price index

Argument, what is the difference between argument and principle argument

what is the difference between argument and principle argument

Dimensional analysis, Rachel had 3.25 quart of ice tea. her family drank 9 ...

Rachel had 3.25 quart of ice tea. her family drank 9 cups.How many cups are left

Factoring, how are polynomials be factored/?

how are polynomials be factored/?

Operation research, interestind topic in operation research for doing proje...

interestind topic in operation research for doing project for msc mathematics

Solve the inequality |x - 1| + |x - 2|, Solve the inequality |x - 1| + |x -...

Solve the inequality |x - 1| + |x - 2|≤ 3. Working Rule:    First of all measure the expression to zero whose modulus happens in the given inequation and from this search the va

List some maths activities-tasks-exercises for children, List some activiti...

List some activities/tasks/exercises that you would give a class of 50 children to do to make them aware about patterns, and to articulate what the patterns are. You must be won

General approach of exponential functions, General approach of Exponential ...

General approach of Exponential Functions : Before getting to this function let's take a much more general approach to things. Let's begin with b = 0 , b ≠ 1. Then an exponential f

Construction, draw a equilateral triangle with length of side 6.5 cm. and l...

draw a equilateral triangle with length of side 6.5 cm. and let us draw a parallelogram equal in area to that triangle and having an angle 45 degree

Estimate the slope of a line?, Estimate the Slope of a Line? The slope o...

Estimate the Slope of a Line? The slope of a line is a measure of how steep it is. It is defined as y 2 - y 1 /x 2 -x 1 Where (x 1 , y 1 ) and (x 2 , y 2 ) are any two p

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd