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I need explanation Construct index numbers of price of the items in the year 2010 from...

Question

I need explanation Construct index numbers of price of the items in the year 2010 from...

Construct index numbers of price of the items in the year 2010 from the following data by Laspeyres Method Items 2001 2010 (

I need explanation

Construct index numbers of price of the items in the year 2010 from the following data by Laspeyre's Method Items 2001 2010 (Base Year) (Current Year) Q P Q P A 4 2 7 14 4 10 10 12 20 12 14 E 10 20 7

Answers

Items 2001 base year 2010 current year PO QO - 4 - P 1 3 14 10 Q1 2 4 12 5 POQO P1Q1 P1Q0 5 12 10 6 10 98 40 56 20 50 240 120

Here Po represent base year price Q0 base year quantity

P1 represent current year price Q1 current year quantity

Laspeyes Index= [ {\sumP1Q0} /{\sumP0Q0}]*100

=(430/468)100

=91.88


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