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

Find the sum of all natural numbers, Find the sum of all natural numbers am...

Find the sum of all natural numbers amongst first one thousand numbers which are neither divisible 2 or by 5 Ans:    Sum of all natural numbers in first 1000 integers which ar

Three person problem of points, Three-person Problem of Points: Pascal, Fer...

Three-person Problem of Points: Pascal, Fermat and their old friend the Chevalier de Mere each put $10.00 into a pot, and agree to play a game that has rounds. Each player has the

How many pages can it print in 4 minutes, Tammi's latest printer can print ...

Tammi's latest printer can print 13.5 pages a minute. How many pages can it print in 4 minutes? Multiply 13.5 by 4 to ?nd out the number of copies made; 13.5 × 4 = 54 copies.

Write down the first few terms of the sequences, Write down the first few t...

Write down the first few terms of each of the subsequent sequences. 1. {n+1 / n 2 } ∞ n=1 2. {(-1)n+1 / 2n} ∞ n=0 3. {bn} ∞ n=1, where bn = nth digit of ? So

Perimeter, what is the perimeter of a rhombus

what is the perimeter of a rhombus

If she remains going at similar rate how long will it take, Susan traveled ...

Susan traveled 114 miles in 2 hours. If she remains going at the similar rate, how long will it take her to go the remaining 285 miles of her trip? There is a 1 in 6 chance of

Algebra, solutions for the equation a-b=5

solutions for the equation a-b=5

Solutions to systems, Now that we've found some of the fundamentals out of ...

Now that we've found some of the fundamentals out of the way for systems of differential equations it's time to start thinking about how to solve a system of differential equations

Function expansion, The functions {sinmx; cosmx}; m = 0,....∞ form a ...

The functions {sinmx; cosmx}; m = 0,....∞ form a complete set over the interval x ∈ [ -Π, Π]. That is, any function f(x) can be expressed as a linear superposition of these

Word problem, A computer is programmed to scan the digits of the counting n...

A computer is programmed to scan the digits of the counting numbers.For example,if it scans 1 2 3 4 5 6 7 8 9 10 11 12 13 then it has scanned 17 digits all together. If the comput

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