Using arithmetic mean, median and geometric mean, construct index numbers by the simple average of relative method from the following data for 1990 and 1991 with 1989 as the base year.

Question: Using arithmetic mean, median and geometric mean, construct index numbers by the simple average of relative method from the following data for 1990 and 1991 with 1989 as the base year.

CommodityPrice (in Rs. per unit) Price (in Rs. per unit) Price (in Rs. per unit)
Year 1989Year 1990Year 1991
A100120150
B404560
C303545
D101215
E202223

Solution:

Computation of price Indices [(Using Mean, Median and G.M. (base 1989)]

Solution homework