0
Chain Base Method
In 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 years
or
Still curious? Ask our experts.
Chat with our AI personalities
Coach
Blake
BeauAdd your answer:
Earn +20 pts
What are the four advantages of plane table survey over chain and compass survey?
1.useful in areas which are difficult to be accesed while chain survey is limited 2.less subjective to errors,in comparison to chain survey which subjected with errors such as change in chain length 3.useful in surveying a large area since it uses transverse(taking bearing from observer to an object ana vice versa is true) 4.it is accurate method for mapping,compare to chain survey
Does maximizing the scalar multiplication in matrix chain multiplication exhibit optimal substructure?
I think so. Copy and paste method could be used to prove this. But this is only my opinion.
How is integration through substitution related to the Chain Rule?
i love wikipedia!According to wiki: In calculus, integration by substitution is a method for finding antiderivatives and integrals. Using the fundamental theorem of calculus often requires finding an antiderivative. For this and other reasons, integration by substitution is an important tool for mathematicians. It is the counterpart to the chain rule of differentiation.
Why is twenty two yards called a chain?
In 1620, the clergyman Edmund Gunter developed a method of surveying land accurately with low technology equipment, using what became known as Gunter's chain. This was 66 feet (22 yards) long and from the practice of using his chain, the word transferred to the actual measured unit. His chain had 100 links, and the link is used as a subdivision of the chain as a unit of length. A rectangle of land one furlong in length and one chain in width has an area of one acre. It is sometimes suggested that this was a medieval parcel of land capable of being worked by one man and supporting one family, but there is no documentary support for this assertion, and it would in any case have predated Gunter's work.
A weight of 900N is supported by two chains of length 4m and 3m Determine the tension in each chain?
To determine the tension in each chain supporting a weight of 900N, we can use trigonometry based on the lengths of the chains and the vertical weight they support. Let's denote the tension in the 4m chain as T1 and in the 3m chain as T2. Assuming the chains are at angles θ1 and θ2 with the vertical, we can set up the equations using the vertical components of the tensions: T1 * cos(θ1) + T2 * cos(θ2) = 900N. The specific angles would be needed to calculate the exact tensions.
