Home
Class 11
ECONOMICS
Construct index numbers of the following...

Construct index numbers of the following data by Fisher's Method:

Text Solution

Verified by Experts

The correct Answer is:
Fisher's Method = 171.21
Hint : Here value does not stand for quantity, Rather quantity is to be worked out of value. To find quantity of base year `(q_(0))` we make use of the following formula:
`q_(0) = ("Value")/("Price")=(18)/(3)=6`
Similarly, we find quantity of current year `(q_(1))` and solve the question using Fisher's Method.
Promotional Banner

Topper's Solved these Questions

  • INDEX NUMBERS

    TARUN JAIN & VK OHRI|Exercise NCERT Questions (With Hints to Answers)|12 Videos

  • INDEX NUMBERS

    TARUN JAIN & VK OHRI|Exercise Long Answer Type Questions|6 Videos

  • FREQUENCY DIAGRAMS - HISTOGRAM, POLYGON AND OGIVE

    TARUN JAIN & VK OHRI|Exercise EXERCISE NCERT|7 Videos

  • MEASURES OF CENTRAL TENDENCY - ARITHMETIC MEAN

    TARUN JAIN & VK OHRI|Exercise Illustration|72 Videos

Similar Questions

Explore conceptually related problems

Construct index number of the following data with Laspeyre's and Paasche's Methods:

Find out the index number of the followng data with Laspeyre's Method:

Construct price index number of the following data by using: (i) Laspeyre's Method, (ii) Paasche's Method, and (iii) Fisher's Method. Note: Answers by all the methods are more or less equal. Nevertheless, Fisher's Index number is regarded as an ideal method.

Construct index number of prices from the following data by (i) Laspeyre's Method, (ii) Paasche's Method, and (iii) Fisher Method.

Construct a histogram from the following data :

Construct a weighted index number of the following data using Price Relative Method: {:("Item","A","B","C","D","""E",),("Base Year (Quantity)",24,14,8,4,8,),("Base Year (Price)",2,4,6,10,5,),("Current Year (Price)",3,5,9,12,5,):}

Find out index value from the following data using (i) Laspeyre's Method, (ii) Paasche's Method, and (iii) Fisher's Method.

From the following data construct Fisher's Ideal Index:

From the following data, find Fisher's Ideal Index Number:

Find the mean for the following data by step-deviatiion method :

TARUN JAIN & VK OHRI-INDEX NUMBERS-Essential Practicals
  1. Taking 2004 as base year, construct the index numbers of the year 2014...

    Text Solution

    |

  2. Construct index number by Price Relative Method taking 2004 as base ye...

    Text Solution

    |

  3. Compute a price index for the following by (i) Simple Aggregative Met...

    Text Solution

    |

  4. Construct price index number of the following data by using: (i) Las...

    Text Solution

    |

  5. Construct an index number for the year 2018, taking 2004 as base year ...

    Text Solution

    |

  6. Given the following data and taking 2004 as the base year, construct i...

    Text Solution

    |

  7. Construct a weighted index number of the following data using Price Re...

    Text Solution

    |

  8. Find out the index number of the followng data with Laspeyre's Method...

    Text Solution

    |

  9. Construct index number of the following data with Laspeyre's and Paasc...

    Text Solution

    |

  10. Construct index numbers of the following data by Fisher's Method:

    Text Solution

    |

  11. Construct Cost of Living index on the basis of the following data: {...

    Text Solution

    |

  12. Construct Consumer Price Index Number with the help of the following d...

    Text Solution

    |

  13. From the following data find Consumer Price Index or Cost of Living I...

    Text Solution

    |

  14. Construct Cost of Living Index Number for the year 2018 from the follo...

    Text Solution

    |

  15. Find the Consumer Price Index from the following data. Using (i) Ag...

    Text Solution

    |

  16. Construct index number of industrial production in the year 2018 from ...

    Text Solution

    |

  17. Construct index number of industrial production from the following dat...

    Text Solution

    |

  18. Construct index number of industrial production from the following dat...

    Text Solution

    |