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

Case let, How should Shoppers’ Stop develop its demand forecasts?

How should Shoppers’ Stop develop its demand forecasts?

Which of the subsequent numbers is equivalent to 12.087, Which of the subse...

Which of the subsequent numbers is equivalent to 12.087? Zeros can be added to the end (right) of the decimal portion of a number without changing the value of the number; 12.

Climate and vegetation of southeast asia, 1.) How does the monsoon influenc...

1.) How does the monsoon influence the climate and vegetation of Southeast Asia? 2.) What is the main crop in Southeast Asia and the main systems by which it is produce? How and

What is the annual interest rate on an account in which earn, What is the a...

What is the annual interest rate on an account in which earns $948 in simple interest over 36 months along with an initial deposit of $7,900? Using the easy interest formula In

Upper limit of normal , Frequently, tests that yield abnormal results are r...

Frequently, tests that yield abnormal results are repeated for confirmation.  What is the probability that for a usual person a test will be at least 1.5 times as high as the upper

Find the quadratic polynomial, Find the Quadratic polynomial whose sum and ...

Find the Quadratic polynomial whose sum and product of zeros are √2 + 1, 1/ √2 + 1 Ans:    sum = 2  √2 Product = 1 Q.P = X 2 - (sum) x + Product ∴ x 2 - (2 √2 )

Differential calculus, lim n tends to infintiy ( {x} + {2x} + {3x}..... +{n...

lim n tends to infintiy ( {x} + {2x} + {3x}..... +{nx}/ n2(to the square) )where {X} denotes the fractional part of x? Ans) all no.s are positive or 0. so limit is either positive

Term paper topics, please suggest me that how can i get the term papers top...

please suggest me that how can i get the term papers topics?

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