Retail price index, Mathematics

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.

 

Posted Date: 2/18/2013 2:26:19 AM | Location : United States







Related Discussions:- Retail price index, Assignment Help, Ask Question on Retail price index, Get Answer, Expert's Help, Retail price index Discussions

Write discussion on Retail price index
Your posts are moderated
Related Questions
In my wallet there is a 10p stamp, a 12p stamp and a 20p stamp.I remove a stamp,put it back and then remove a stamp again.Draw a sample space diagram to show all the possible resul

A triangle has vertices A (-1, 3, 4) B (3, -1, 1) and C (5, 1, 1). The area of ABC is a) 30.1 b) 82.1 c) 9.1 d) 52.1

tan9x = (tan7x + tan2x)/(1 - tan7x*tan2x) here its given 1 - tan2x*tan7x= 0 implies tan9x = infinity since tan9x = (3tan3x - tan^3(3x))/(1 - 3tan^2 (3x)) = infinity implies


I need marketing management sample assignment as a guide

sir/madam, i abdulla working as a maths teacher want to join ur esteemed organisation as a tutor how can i proceed i have created an account even pls guide me, thanks abdulla

Mona purchased one and a half pounds of turkey at the deli for $6.90. What did she pay per pound? Divide the cost of the turkey by the weight; $6.90 ÷ 1.5 = $4.60.

What does the abbreviation ''GSA'' mean?

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.

if area of a rectangle is 27 sqmtr and it perimeter is 24 m find the length and breath#