INDIAN SCHOOL MUSCAT DEPARTMENT OF COMMERCE AND HUMANITIES Statistics for Economics Class : 11
Reference: NCERT text book Date of submission ------------------2017
Worksheet on Index Numbers
Date of issue --------------2017
Economics (030)
I. Answer in One sentence: 1. 2. 3. 4. 5. II.
Define Index number. Write any two importance of Index number in Economics. How do you determine price relative. What do you mean by Industrial Production Index? Name the Index used in Bombay Stock exchange? Construct the Index number for the following Data.
6. Construct Simple Price Index and taking 2011 as base year. Commodity Price in 2011 Price in 2013
Rice 4 6
Wheat 6 12
Sugar 4 3
Tea 8 12
Oil 12 24
7. From the following data prepare a price Index number with 1998 as the base year Year Price per Kg
1998 125
1999 150
2000 140
2001 160
2002 175
8. Construct an index number by using the simple average price relative method Commodity A B C D F Price in 2010 50 40 10 5 2 Price in 2012 80 60 20 10 6 9. Construct an index number by using Laspyer’s and Paasche’s method Commodity Price in 2008 Price in 2010 Quantity in 2008
A 100 150 7
ISM/SENIOR SECTION/ECONOMICS/CLASS 11 - 2017-2018
B 75 100 6
C 90 90 11
D 60
F 40 5
80 100 4
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Quantity in 2010
4
8
10
6
2
10. Construct Weighted aggregate Index and Weighted Average relative Index: Commodity Price in 2000 Price in 2002 Expenditure (%)
A 100 150 25
B 75 100 10
C 90 90 20
D 60
F 40 30
80 100 15
11. From the given data construct cost of living Index: Commodity Price in 1998 Price in 2001 Weights
Food 110 130 48
Fuel Clothing and light 120 110 125 120 8 7
Rent miscellaneous 100 100 13
115 135 14
12. Explain the uses of various Index numbers. 13.What are the various issues involved in the construction of Index number. *******************
ISM/SENIOR SECTION/ECONOMICS/CLASS 11 - 2017-2018
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