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

Calculate the probability, Calculate the introduction to Probability? P...

Calculate the introduction to Probability? Probability refers to the chance that an event will happen. Probability is presented as the ratio of the number of ways an event can

Calculus questions, Show all your work. 80% of your score is for correct ju...

Show all your work. 80% of your score is for correct justified answers; 20% is for correctly and clearly demonstrating why. For the graphing problems, use www.desmos.com/calculator

GCF, Find the GCF of 70 and 112

Find the GCF of 70 and 112

Math, The Timbuktu post office has only 3 cents and 7 cents stamps having r...

The Timbuktu post office has only 3 cents and 7 cents stamps having run out of all other denominations. What are the six amounts of postage that cannot be created? How do you know

Fundamental theorem of calculus, Fundamental Theorem of Calculus, Part II ...

Fundamental Theorem of Calculus, Part II Assume f ( x ) is a continuous function on [a,b] and also assume that F ( x ) is any anti- derivative for f ( x ) . Then,

Calculate the number-average and weight-average molar mass, Three mixtures ...

Three mixtures were prepared with very narrow molar mass distribution polyisoprenesamples with molar masses of 8000, 25,000, and 100,000 as indicated below. (a) Equal numbers of

.fractions, what is the difference between North America''s part of the tot...

what is the difference between North America''s part of the total population and Africa''s part

Decmals, just want to go over it

just want to go over it

Technical Mathematic, Convert or Reduce Reduce 4,500 micrograms to grams

Convert or Reduce Reduce 4,500 micrograms to grams

#title.square footage, The area of a rectangular yard is 480 square feet. T...

The area of a rectangular yard is 480 square feet. The yard is 24 feet wide. How many feet do I need to fence all four sides?

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