a) the consumer price index for june 2005 was 125 . the food index was 120 and that of other items 135 . what is the percentage of total weight given to food ?
b) what are the importances of consumer price index ?
Hi Nandana,
Please browse through the below link to view the solution to part (a).
https://www.meritnation.com/ask-answer/question/the-consumer-price-index-for-june-2005-was-125-the-food-in/index-numbers/6320052
For part (b), refer the link below. The merits of Consumer Price Index (CPI) gives it importance. Open the link below and browse through the topic 'Merits of Consumer Price Index'.
https://www.meritnation.com/cbse/class11-commerce/studymaterial/economics/statistics-for-economics/index-numbers/443_2500_6443#slide3_types-of-index-numbers%E2%80%93-cpi-wpi-iip-agricultural-production-index
Please browse through the below link to view the solution to part (a).
https://www.meritnation.com/ask-answer/question/the-consumer-price-index-for-june-2005-was-125-the-food-in/index-numbers/6320052
For part (b), refer the link below. The merits of Consumer Price Index (CPI) gives it importance. Open the link below and browse through the topic 'Merits of Consumer Price Index'.
https://www.meritnation.com/cbse/class11-commerce/studymaterial/economics/statistics-for-economics/index-numbers/443_2500_6443#slide3_types-of-index-numbers%E2%80%93-cpi-wpi-iip-agricultural-production-index