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

Jordan needs help, carlie is now fivetimes as old as henry. in nine years ...

carlie is now fivetimes as old as henry. in nine years her age will be twice henry''s age then. how old is carly now

Solution process of linear differential equations, For a first order linear...

For a first order linear differential equation the solution process is as given below: 1. Place the differential equation in the correct initial form, (1). 2. Determine the i

Law of Cosines, The law of cosines can only be applied to acute triangles. ...

The law of cosines can only be applied to acute triangles. Is this true or false?

Vector arithmetic - addition, Vector Arithmetic In this part we need t...

Vector Arithmetic In this part we need to have a brief discussion of vector arithmetic. Addition We will begin with addition of two vectors. Thus, given the vectors a

Compute the linear convolution, Compute the linear convolution of the discr...

Compute the linear convolution of the discrete-time signal x(n) ={3, 2, 2,1} and the impulse response function of a filter h(n) = {2, 1, 3} using the DFT and the IDFT.

Solution to a differential equation, A solution to a differential equation ...

A solution to a differential equation at an interval α Illustration 1:   Show that y(x) = x -3/2 is a solution to 4x 2 y′′ + 12xy′ + 3 y = 0 for x > 0. Solution : We'll

Statistics and probability, STATISTICS AND PROBABILITY : Statistics  ar...

STATISTICS AND PROBABILITY : Statistics  are the  only  tools  by  which  an  opening  can  be  cut  through  the formidable  thicket  of difficulties  that bars the  path  of

Properties of t distribution, Properties of t distribution 1. The t di...

Properties of t distribution 1. The t distribution ranges from - ∞ to ∞ first as does the general distribution 2. The t distribution as the standard general distribution is

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