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

Partial Differentiation, If the sides angles of a triangle ABC vary in such...

If the sides angles of a triangle ABC vary in such a way that it''s circum - radius remain constant. Prove that, da/cos A +db/cos B+dc/cos C=0

Analalitic geometry, 1. Write down the canonical equations of the line pass...

1. Write down the canonical equations of the line passing through the point A(2,3, 4) and being parallel to the vector q ={5,0,-1}.

Using substitution solving polynomial equations, Using Substitution Solving...

Using Substitution Solving Polynomial Equations ? Solve : (x 3 + 4) 2 - 15 (x 3 + 4) + 36 = 0. You might be tempted to multiply everything out and factor. However, there

Diffrentiation, y=f(a^x)   and f(sinx)=lnx find dy/dx? Solution) dy/dx exi...

y=f(a^x)   and f(sinx)=lnx find dy/dx? Solution) dy/dx exist only when 0 1 as the function y = f(a^x) itself does not exist.

Series, if abebe murepay a $100000interse free loan by making annuallypaym...

if abebe murepay a $100000interse free loan by making annuallypayment of 1st

Evaluate the rational exponents, Evaluate each of the following.  (a) 2...

Evaluate each of the following.  (a) 25 1/2  (b) 32 1/5 Solution  (a) 25 1/2 Thus, here is what we are asking in this problem.                             2

How to plot line graphs, Q. How to plot Line Graphs? Ans. Line gra...

Q. How to plot Line Graphs? Ans. Line graphs can be useful in analyzing data. They are particularly helpful when you are interpolating or extrapolating information from y

Binimial, theory behind the greatest term in the binomial expansion

theory behind the greatest term in the binomial expansion

Linear graph, in the form of linear graph interpret the ralationship betwee...

in the form of linear graph interpret the ralationship between two quantities

Rates of change and tangent lines in limits, Rates of Change and Tangent Li...

Rates of Change and Tangent Lines : In this section we will study two fairly important problems in the study of calculus. There are two cause for looking at these problems now.

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