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Tutorial 6 INDEX Edited

This document provides a tutorial on calculating different types of price and quantity index numbers using data on food items, retail shop items, laptop models, and household food consumption from various years. It includes exercises to calculate unweighted average relative quantity indexes, quantity indexes using price as a weight, Paasche price indexes, price relatives indexes, Laspeyres' and Paasche's indexes, simple average of relatives price indexes, and simple aggregate quantity indexes. The base year used for comparison is specified for each dataset.

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55 views2 pages

Tutorial 6 INDEX Edited

This document provides a tutorial on calculating different types of price and quantity index numbers using data on food items, retail shop items, laptop models, and household food consumption from various years. It includes exercises to calculate unweighted average relative quantity indexes, quantity indexes using price as a weight, Paasche price indexes, price relatives indexes, Laspeyres' and Paasche's indexes, simple average of relatives price indexes, and simple aggregate quantity indexes. The base year used for comparison is specified for each dataset.

Uploaded by

mustard
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
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TUTORIAL QMT181/STA104

1.A researcher has collected the following information on the prices and quantities of selected food items
imported for the years 2000 and 2001.

i) By using the year 2000 as the base period, calculate an unweighted average relative quantity index for the
year 2001 and explain the value obtained.(3 marks)
ii) Calculate the quantity index for the year 2001 using price in year 2000 as the weight. Name this index.
iii) Calculate the Paasche Price Index for year 2001.(3 marks)

2. Fill in the blanks with the appropriate Statistical terms.


i) _________ is the year that is used to compare its value with the values of the other years. (1 mark)
ii) A _______________is the ratio of the price of a single commodity in a given period to its price in the base
period. (1 mark)
iii) __________of relative index compares the overall changes for a group of commodities or items under
consideration. (1 mark)

3. The following table indicates the quantities and prices of items sold at Danny's Retail Shop for 2007 and
2008.

Using 2007 as the base year, calculate


i) the price relatives index for each food item and determine which food item had the largest increase in price.
ii) Laspeyres' price index for 2008 and explain the value obtained.(4 marks)
iii) Paasche's quantity index for 2008.(3 marks)

4. The price of three laptop models and the quantity sold for a company in 2005 and 2006 are as follows.

Use 2005 as the base year. Calculate:


i) Simple average of relatives price index for the three models for 2006.(4 marks)
ii) If the change in price for model X in 2007 is an increase of 15% relative to 2005, find the price of model X for
2007.(2 marks)

5. Give two examples of index numbers used in Malaysia. (1 mark)

6. The following table shows the price and quantity of weekly demand for three items sold at a retail shop for
the years 2000 and 2005.

Use 2000 as the base year.


i) If the simple aggregate price index is 111.9, find the value of x. (2 marks)
ii) If the change in price for flour in 2006 is decreased by 15% relative to year 2000, find the price of flour for
year 2006.(2 marks)
FAHA 1
TUTORIAL QMT181/STA104

7. The prices and quantities for 6 food items consumed by a family of 4 in 2009 and 2012 are shown in the
table below:

Using 2009 as the base year,


i) Calculate the quantity relatives index for each food item and determine which food item had the largest
increase in quantity (4 marks)
ii) Calculate the simple aggregate quantity index (2 marks)

FAHA 2

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