By Jeff Ralph, Rob O'Neill, Joe Winton
This ebook offers an advent to index numbers for statisticians, economists and numerate individuals of the general public. It covers the fundamental fundamentals, blending theoretical points with sensible strategies to provide a balanced and obtainable creation to the topic. The recommendations are illustrated by way of exploring the development and use of the patron costs Index that's arguably crucial of all legitimate records within the united kingdom. The e-book additionally considers present concerns and advancements within the box together with using large-scale fee transaction data.
A functional creation to Index Numbers would be the excellent accompaniment for college students taking the index quantity elements of the Royal Statistical Society traditional and better certificates tests; it presents recommended routes throughout the ebook for college kids, and units of routines with solutions.
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Additional info for A Practical Introduction to Index Numbers
1 Measures of price change for fruit between 2012 and 2013. 5 Using a Paasche price index to measure the overall change in price for this basket of fruit results in a smaller price change than any of the other formulae we have used. 4 Apples Bananas Pineapple 43 Fruit prices and quantities. 00 220 230 50 300 170 30 change in the price of apples and is less influenced by the large change in price of the pineapples than the un-weighted indices and even the Laspeyres price index. Note that this makes some sense; as pineapples have increased in price, the demand has dropped off noticeably, which leads to us giving less weight to the large price change for pineapples on the other hand demand has increased for apples and so we give more weight to the fruit with the smallest increase in price.
Formal solutions are not provided for these questions; however, some brief supporting information for this exercise is available as part of the on-line content associated with this book. 1 Identify the benefits and taxes adjusted by inflation measures. 2 Given the potential uses of inflation statistics discussed in this chapter, what are the possible implications of having inaccurate or wrong inflation index numbers? 3 If you were running a construction business, how might you use index numbers?
Calculate the percentage change in the index between 2006/2007 and 2010/2011. d. Calculate the percentage change in the index between 2009/2010 and 2012/2013. 2 Number of goals 2005/2006 to 2012/2013. 3. 3 Index of salary 2009–2014. 0 Richard’s colleague Catherine has a salary of £33 000 in 2014. Catherine would like to know what her salary was in 2009. Her salary has moved in exactly the same way as Richard’s during this period. a. Using the index of salary above, calculate Catherine’s salary in 2009.
A Practical Introduction to Index Numbers by Jeff Ralph, Rob O'Neill, Joe Winton
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