0
(price of commodity in the given year/ price of the commodity in preceding year) * 100
Wiki User
∙ 12y ago
Add your answer:
Earn +20 pts
What is the formula for calculating volume of numbers?
The formula for the volume of numbers is V=Bh, where B is the area of the base and h is the height of the solid.
What is the rule that allows us to add the exponents of factors whose base numbers are the same?
It is one on the "index laws".
Discuss the importance of index number?
ndex numbers are basically economic data figures that reflect the price or quantity compared with standard or base value. It is normally expressed as 100 times the ratio of the base value that equals 100. Index numbers are very important for economic analysis. They summarize movements in a group of related variables. The consumer Price index is one of the most commonly used form of index number. It measures the changes in the retail prices.
What is chain based method of analysis in statistics?
Chain Base MethodIn this method, there is no fixed base period. The year immediately preceding the one for which price index have to be calculated is assumed as the base year. Thus, for the year1994 the base year would be 1993, for 1993 it would be 1992 for 1992 it would be 1991 and so on. In his way there is no fixed base. It goes on changing. The chief advantage of this method is that the price relatives of a year can be compared with the price level of the immediately preceding year. Businessmen mostly interested in comparison of this type rather than in comparison relating to distant past. Yet another advantage of the chain base method is that it is possible to include new items in an index number or to delete old times which are no more important. In fixed base method it is not possible. But chain base method has drawback that comparison cannot be made over a long period.In Chain Base,Link relative of current yearsor
How do you work out the index number?
Index numbers are usually expressed by setting some selected value as 100 and converting all other numbers to an index relative to that base.So, for a simple index, if the value y(0) is set to 100, then the index for the value y(k) is y(k)/y(0)*100.The calculations become more complicated if the index is for a collection of items. In such cases, a number of different "sub-indices" need to be combined together. The combined index is calculated as a weighted average of the component sub-indices, with the weights based on the importance of each su-index in the base period (base-weighted) or in the current period (current-weighted).
What are the theoretical tests for index numbers Also verify them by Laspeyres formula Paasche's formula Fisher's formula and Marshall Edge worth formula?
A= 4 times the base of square mass
How do you get index number trend analysis?
To get index number trend analysis, you need a set of data points representing the index numbers over a specific time period. Plotting the data on a graph will allow you to visually analyze the trend. Additionally, you can calculate the average change in index numbers over time using a formula such as the percent change formula or the moving average method to identify the direction and rate of the trend.
What is the formula for calculating volume of numbers?
The formula for the volume of numbers is V=Bh, where B is the area of the base and h is the height of the solid.
How will you convert fixed based index number to chain based index number?
convert the following series of index number to chain based indices Year 2003 2004 2005 2006 2007 2008 2009 2010 Index number (base 2003) 100 110 125 133 149 139 150 165
What are role and limitations of index numbers?
limitations of index numbers 1.there may be errors in choice of base period or quantities. 2.may give misleading conclusions if choice of the representatives is not done properly
What is the formula of calculating increase in real GDP?
Nominal GDP/CPI*100 answer will be in $ amount
How do you find the area of a triangle if it has 3 numbers?
The formula for the area of a triangle is A=(1/2)BH where B is the base, and H is the height. If it has 3 numbers, pick out the 2 that you need, the base and the height, and use the formula.
What is the rule that allows us to add the exponents of factors whose base numbers are the same?
It is one on the "index laws".
How do you work out index numbers?
Index numbers are usually expressed by setting some selected value as 100 and converting all other numbers to an index relative to that base.So, for a simple index, if the value y(0) is set to 100, then the index for the value y(k) is y(k)/y(0)*100.The calculations become more complicated if the index is for a collection of items. In such cases, a number of different "sub-indices" need to be combined together. The combined index is calculated as a weighted average of the component sub-indices, with the weights based on the importance of each su-index in the base period (base-weighted) or in the current period (current-weighted).
How do you calculate index numbers?
First take a base year. It has to be a normal year when no natural calamity took place and the value decided to all the goods is 100. Changes in the prices are measured as a percentage of the base year prices and then index numbers have to be calculated according to the changes. The answer to the current year is measured with the base year. The increase in the answer of the current year is the inflation rate.
Discuss the importance of index number?
ndex numbers are basically economic data figures that reflect the price or quantity compared with standard or base value. It is normally expressed as 100 times the ratio of the base value that equals 100. Index numbers are very important for economic analysis. They summarize movements in a group of related variables. The consumer Price index is one of the most commonly used form of index number. It measures the changes in the retail prices.
What is chain based method of analysis in statistics?
Chain Base MethodIn this method, there is no fixed base period. The year immediately preceding the one for which price index have to be calculated is assumed as the base year. Thus, for the year1994 the base year would be 1993, for 1993 it would be 1992 for 1992 it would be 1991 and so on. In his way there is no fixed base. It goes on changing. The chief advantage of this method is that the price relatives of a year can be compared with the price level of the immediately preceding year. Businessmen mostly interested in comparison of this type rather than in comparison relating to distant past. Yet another advantage of the chain base method is that it is possible to include new items in an index number or to delete old times which are no more important. In fixed base method it is not possible. But chain base method has drawback that comparison cannot be made over a long period.In Chain Base,Link relative of current yearsor
