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Question
Calculate the index number. for the year 2014, with 2010 as the base year by the weighted aggregate method from the following data:
| Commodity | Price in Rs | Weight | |
| 2010 | 2014 | ||
| A | 2 | 4 | 8 |
| B | 5 | 6 | 10 |
| C | 4 | 5 | 14 |
| D | 2 | 2 | 19 |
Solution
| Commodity | Price in Rs | Weight w | `p_1omega` | `p_0omega` | |
|
2010 `p_0` |
2014 `p_1` |
||||
| A | 2 | 4 | 8 | 32 | 16 |
| B | 5 | 6 | 10 | 60 | 50 |
| C | 4 | 5 | 14 | 70 | 56 |
| D | 2 | 2 | 19 | 38 | 38 |
| `sum p_1 omega` = 200 | `sum p_0 omega = 160` | ||||
`p_01 = (sum p_1 omega)/(sum p_0 omega) xx 100`
`=200/160 xx 100`
= 125
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