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Fixed base. Chain base. Laspeyres Price and Quantity. Paache Price and Quantity. Interpretation.
\nrebelmaths
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\nYear | \n2011 | \n2012 | \n2013 | \n2014 | \n2015 | \n2016 | \n
---|---|---|---|---|---|---|
Rent € | \n{a} | \n{b} | \n{c} | \n{d} | \n{f} | \n{g} | \n
", "variables": {"d": {"description": "", "templateType": "anything", "name": "d", "definition": "Random(550..600)", "group": "Ungrouped variables"}, "g": {"description": "", "templateType": "anything", "name": "g", "definition": "Random(600..650)", "group": "Ungrouped variables"}, "f": {"description": "", "templateType": "anything", "name": "f", "definition": "Random(600..650)", "group": "Ungrouped variables"}, "b": {"description": "", "templateType": "anything", "name": "b", "definition": "Random(500..600)", "group": "Ungrouped variables"}, "a": {"description": "", "templateType": "anything", "name": "a", "definition": "Random(485..550)", "group": "Ungrouped variables"}, "c": {"description": "", "templateType": "anything", "name": "c", "definition": "Random(500..600)", "group": "Ungrouped variables"}}, "ungrouped_variables": ["a", "c", "b", "d", "g", "f"], "preamble": {"js": "", "css": ""}, "rulesets": {}, "variable_groups": [], "advice": "", "tags": [], "variablesTest": {"maxRuns": 100, "condition": ""}, "metadata": {"licence": "Creative Commons Attribution 4.0 International", "description": "
Fixed Base Index Numbers
\nrebelmaths
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\n$\\frac{\\text{Value for the year}}{\\text{Value for the base year}}\\times 100$
", "variableReplacements": [], "showCorrectAnswer": true}], "prompt": "For the years 2011 to 2016 calculate a fixed base index for the rent using 2011 as the base year (round answers to nearest whole number).
\nYear | \n2011 | \n2012 | \n2013 | \n2014 | \n2015 | \n2016 | \n
---|---|---|---|---|---|---|
\n Index Number \n | \n[[0]] | \n[[1]] | \n[[2]] | \n[[3]] | \n[[4]] | \n[[5]] | \n
Click on Show steps if you want more information. You will not lose any marks by doing so.
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A company manufactures three types of {type[3]}. The table below shows the prices and quantities sold of the three types of {type[3]} over the three year period 2010-2012.
\n\n | Price | \nPrice | \nPrice | \nQuantity | \nQuantity | \nQuantity | \n
---|---|---|---|---|---|---|
\n | 2010 | \n2011 | \n2012 | \n2010 | \n2011 | \n2012 | \n
{type[0]} | \n{pa1} | \n{pa2} | \n{pa3} | \n{qa1} | \n{qa2} | \n{qa3} | \n
{type[1]} | \n{pb1} | \n{pb2} | \n{pb3} | \n{qb1} | \n{qb2} | \n{qb3} | \n
{type[2]} | \n{pc1} | \n{pc2} | \n{pc3} | \n{qc1} | \n{qc2} | \n{qc3} | \n
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Calculate a Laspeyres (base-weighted) Price index for 2011, with 2010 as the base year.
", "variableReplacements": [], "minValue": "{({{pa2}*{qa1}}+{{pb2}*{qb1}}+{{pc2}*{qc1}})/({{pa1}*{qa1}}+{{pb1}*{qb1}}+{{pc1}*{qc1}})*100}-0.5", "steps": [{"showFeedbackIcon": true, "scripts": {}, "variableReplacements": [], "variableReplacementStrategy": "originalfirst", "type": "information", "prompt": "Laspeyres Price Index $I=\\dfrac{\\sum p_n q_0}{\\sum p_0 q_0}$.
\nNote
\n- $p$ stands for price and $q$ stands for quantity
\n- the subscipt $0$ refers to the base year and the subscript $n$ refers to the year for which the index number is being calculated.
\n- $\\sum$ stands for \"sum of\"
\nIt may be helpful to make out columns
\nType | \n$p_n$ | \n$q_0$ | \n$p_0$ | \n$p_n \\times q_0$ | \n$p_0 \\times q_0$ | \n
---|---|---|---|---|---|
\n | price for year $n$ | \nquantity for base year | \nprice for base year | \n\n | \n |
\n | \n | \n | \n | \n | \n |
\n | \n | \n | \n | \n | \n |
\n | \n | \n | \n | \n | \n |
Laspeyres Price Index
\nrebelmaths
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\n\n | Price | \nPrice | \nPrice | \nQuantity | \nQuantity | \nQuantity | \n
---|---|---|---|---|---|---|
\n | 2010 | \n2011 | \n2012 | \n2010 | \n2011 | \n2012 | \n
{type[0]} | \n{pa1} | \n{pa2} | \n{pa3} | \n{qa1} | \n{qa2} | \n{qa3} | \n
{type[1]} | \n{pb1} | \n{pb2} | \n{pb3} | \n{qb1} | \n{qb2} | \n{qb3} | \n
{type[2]} | \n{pc1} | \n{pc2} | \n{pc3} | \n{qc1} | \n{qc2} | \n{qc3} | \n
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Calculate a Paache (current-weighted) Quantity index for 2012, with 2010 as the base year.
", "variableReplacements": [], "minValue": "{({{qa3}*{pa3}}+{{qb3}*{pb3}}+{{qc3}*{pc3}})/({{qa1}*{pa3}}+{{qb1}*{pb3}}+{{qc1}*{pc3}})*100}-0.5", "steps": [{"showFeedbackIcon": true, "scripts": {}, "variableReplacements": [], "variableReplacementStrategy": "originalfirst", "type": "information", "prompt": "Paasche Price Index $I=\\dfrac{\\sum q_n p_n}{\\sum q_0 p_n}$.
\nNote
\n- $p$ stands for price and $q$ stands for quantity
\n- the subscipt $0$ refers to the base year and the subscript $n$ refers to the year for which the index number is being calculated.
\n- $\\sum$ stands for \"sum of\"
\nIt may be helpful to make out columns
\nType | \n$p_n$ | \n$q_0$ | \n$p_0$ | \n$p_n \\times q_0$ | \n$p_0 \\times q_0$ | \n
---|---|---|---|---|---|
\n | price for year $n$ | \nquantity for base year | \nprice for base year | \n\n | \n |
\n | \n | \n | \n | \n | \n |
\n | \n | \n | \n | \n | \n |
\n | \n | \n | \n | \n | \n |
Laspeyres Price Index
\nrebelmaths
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