STA304 Assignment 01 Fall 2021 Solution / Discussion Due Date: 07-12-2021
STA304 Assignment 1 Solution Fall 2021, STA304 Assignment solution 2022, STA304 Assignment 1 solution 2021, sta304 assignment solution 2021 – 2022.
STA304 Department of mathematics and statistics virtual university of Pakistan Assignment no 1 fall 2021. The deadline for your assignment is December o7, 2021 assignment must be uploaded/ submitted before the date after the due date assignment will be not accepted. Before preparing the assignment, you must read its notices, etc., and rules. If you do not follow it, your marks may be deducted.
Selection of Appropriate Weights. There are varieties of indices.
• Unweighted indices- wherein no unique weights are attached
• Weighted indices- wherein suitable weights are assigned to various items.
Given the prices of three commodities, Using 1990 as the base period, compute, simple average of relatives price indices using.
First of all Open your Ms excel on your computer or laptop copy your first whole question paste it into an excel sheet then you have to edit your table, add some things like Total, mean, median, then apply the formula to it. In the table below, all the formulas have been solved, but you have to do calculations in your Ms. Excel and then put the formula there and then paste it in the Ms word.
Years | Prices | |||||
A | B | C | Total | Mean | Median | |
1990 | 100 | 100 | 100 | =sum(A,B,C) 300 | =(Total/3) (100) | =Median(A,B,C) (100) |
1991 | =(B4/$B$3)*100 (102) | =(C4/$C$3)*100 (113) | =(D4/$D$3)*100 (118) | =sum(A,B,C) 332 | =(total/3) (111) | =Median(A,B,C) (113) |
1992 | =B5/$B$3)*100 (108) | =(C5/$C$3)*100 (121) | =(D5/$D$3)*100 (125) | =sum(A,B,C) 354 | =(total/3) (118) | =Median(A,B,C) (121) |
1993 | =B6/$B$3)*100 (108) | =(C6/$C$3)*100 (117) | =(D6/$D$3)*100 (125) | =sum(A,B,C) 350 | =(total/3) 117) | =Median(A,B,C) (117) |
Construct the following weighted aggregative price index numbers (by using Paasche’s formula) for 1960 by using 1956 as a base period.
In this question, we are given commodities a, b, c, d, and their price, etc. Has also been given and their quantities have also been given. We have to solve it by looking at the complete values. We are going to solve this question using the pastiche formula. Commodity Prices state that the price of one item in 1906 was 600 but in 1960 it become higher. And the difference in their quantity has also been explained in 1956 and 1960. The formula to be used for question no. 2 will be index. Before applying the formula you have to first create its table on ms excel then apply your index formula.
A | 600 | 1200 | 100 | 150 | =(P1*Q1) 180000 | =(P0*Q1) 90000 |
B | 400 | 700 | 80 | 100 | =(P1*Q1) 70000 | =(P0*Q1) 40000 |
C | 180 | 432 | 60 | 72 | =(P1*Q1) 31104 | =(P0*Q1) 12960 |
D | 450 | 363 | 30 | 33 | =(P1*Q1) 11979 | =(P0*Q1) 14850 |
=Sum(all values) | =Sum(All values) |
Now we will apply the formula of the index. The method of applying it on Excel is very simple: =Sum(P1Q1/P0Q1)*100 So this is how your formula will work.
Selection of Commodities
The following steps are included for the choice of commodities:
• A affordable wide variety of commodities on the idea in their evaluated significance have to be used.
• While choosing their wide variety, the commodities to be decided on need to be taken as,
• Representative of the tastes, behavior, and necessities of the human beings concerned
• Unlikely to differ in great or grade
• Comparable
There are methods for the selection of base duration the one is chain base and the second one is constant base. Fixed base technique: a hard and fast base technique is one wherein a selected year is typically selected because the base length stays unchanged during the lifestyles time period of the index. Example: Suppose that a cup of coffee in a selected café price Rs. 35 in 2002. In 2012, an equal cup of coffee fee of Rs. 50. How has the fee been modified from 2002 to 2012?
The specific term of 1995 which we have got selected to examine against, is known as the base length. Price relative: A price relative expresses the rate of a commodity in a given 12 months as a fragment of the rate withinside the base 12 months. It is extended by one hundred to make it a percentage. Price relative formula = p(power of n) divided by p (power of 0) x 100. Where Po denotes the rate of the bottom 12 months and denotes the price of the present-day length.
STA304 Assignment 1 Solution Fall 2021, STA304 Assignment solution 2022, STA304 Assignment 1 solution 2021.
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