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
assignment on theorems on circle for class 9

Express the GCD of 48 and 18 as a linear combination.              (Ans: Not unique) A=bq+r, where  o ≤  r 48=18x2+12 18=12x1+6 12=6x2+0 ∴ HCF (18,48) = 6 now  6

Each week Jaime saves $25. How long will it take her to save $350? Divide $350 by $25; 350 ÷ 25 = 14 weeks.

For the initial value problem y' + 2y = 2 - e -4t , y(0) = 1 By using Euler's Method along with a step size of h = 0.1 to get approximate values of the solution at t = 0.1, 0


Farmer counting grasshoppers in his fields, probably not normally distributed due to growing conditions. After various rows the mean number of grasshoppers is 57 SD 12. What will b

Diffrent type of rectillinar figure..

The equation ax2 + 2hxy + by2 =0 represents a pair of straight lines passing through the origin and its angle is tan q = ±2root under h2-ab/(a+b) and even the eqn ax2+2hxy+by2+2gx+

Power Series We have spent quite a bit of time talking about series now and along with just only a couple of exceptions we've spent most of that time talking about how to fin

Skewness - It is a concept which is normally used in statistical decision making. This refers to the degree whether a described frequency curve is deviating away from the gene