pls give the formulae of weighted price relative index
Dear Student,
If along with the base prices p0 and current prices p1 of a number of items, the weights w of each items are given, then the index number based on weighted aggregates is given by
P01 = (Σp1w/Σp0w) × 100 In this method, we make use of price relatives.When the base and current prices of a number of items along with weights or quantities are given, their weighted average of price relatives is given by
Regards
WEIGHTED AGGREGATE METHOD - FORMULA
P01 = (Σp1w/Σp0w) × 100
WEIGHTED AVERAGE OF PRICE RELATIVE METHOD - FORMULA
Regards