|
Number of employees and weekly wages, 1996 to 1998 |
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|
Sector |
Number of employees |
Weekly wages (£) |
||||
|
|
1996 |
1997 |
1998 |
1996 |
1997 |
1998 |
|
|
q0 |
q1 |
q2 |
p0 |
p1 |
p2 |
|
Technical |
180 |
210 |
225 |
470 |
505 |
540 |
|
Skilled |
270 |
230 |
180 |
355 |
360 |
375 |
|
Operators |
450 |
340 |
220 |
275 |
255 |
250 |
1)
Simple price index for
1997 and 1998
|
Calculation: |
1997 |
1998 |
|
|
p1/ p 0 |
p2/ p 0 |
|
Technical |
505/470 |
540/470 |
|
Operators |
360/355 |
375/355 |
|
Skilled |
255/275 |
250/275 |
|
|
||
|
Answer: |
1997 |
1998 |
|
Technical |
107.45 |
114.89 |
|
Operators |
101.41 |
105.63 |
|
Skilled |
92.73 |
90. |
2)
Simple aggregate indices
for 1997 and 1998.
|
|
1996 |
1997 |
1998 |
|
|
p0 |
p1 |
p2 |
|
Technical |
470 |
505 |
540 |
|
Skilled |
355 |
360 |
375 |
|
Operators |
275 |
255 |
250 |
|
Total(add) |
1100 |
1120 |
1165 |
|
|
1100/1100 |
1120/1100 |
1165/1100 |
Answer:
|
1996 |
1997 |
1998 |
|
100 |
101.82 |
105.91 |
3) Laspeyres price indices for
1997 and 1998.
|
|
1996 |
1997 |
1998 |
|
|
p0×q0 |
p1×q0 |
p2×q0 |
|
Technical |
84600 |
90900 |
97200 |
|
Operators |
95850 |
97200 |
101250 |
|
Skilled |
123750 |
114750 |
112500 |
|
Total |
304200 |
302850 |
310950 |
|
|
304200/304200 |
302850/304200 |
310950/304200 |
|
|
|
|
|
Answer: |
1997 |
1998 |
|
Laspeyres price |
99.56 |
102.22 |
3)
Paasche price indices for 1997 and 1998 (assuming that 1998 is the current year).
|
|
1996 |
1997 |
1998 |
|
|
|
p0×q2 |
p1×q2 |
p2×q2 |
|
|
Technical |
105750 |
113625 |
121500 |
|
|
Operators |
63900 |
64800 |
67500 |
|
|
Skilled |
60500 |
56100 |
55000 |
|
|
Total |
230150 |
234525 |
244000 |
|
|
|
230150/23150 |
234525/230150 |
244000/230150 |
|
|
Answer: |
1997 |
1998 |
||
|
Paasche price |
101.90 |
106.02 |
||
5) Price indices for 1997 and 1998 using average quantities as the
weights.
|
|
|
1996 |
1997 |
1998 |
|
|
Average q |
q×p0 |
q×p1 |
q×p2 |
|
Technical |
205.00 |
96350.00 |
103525.00 |
110700.00 |
|
Operators |
226.67 |
80467.85 |
81601.20 |
85001.25 |
|
Skilled |
336.67 |
92584.25 |
85850.85 |
84167.50 |
|
|
Total |
269402.10 |
270977.05 |
279868.75 |
|
|
|
269402.1/269402.1 |
270977.05/269402.1 |
279868.75/269402.1 |
|
Answer: |
1997 |
1998 |
|
Price Index |
100.58 |
103.89 |
6) Laspeyres quantity indices for 1997
and 1998.
|
|
1996 |
1997 |
1998 |
|
|
p0×q0 |
p0×q1 |
p0×q2 |
|
Technical |
84600 |
98700 |
105750 |
|
Operators |
95850 |
81650 |
63900 |
|
Skilled |
123750 |
93500 |
60500 |
|
Total |
304200 |
273850 |
230150 |
|
|
304200/304200 |
273850/304200 |
230150/304200 |
|
|
|
|
|
Answer: |
1997 |
1998 |
|
Laspeyres Quantity |
90.02 |
75.66 |
7) Paasche quantity indices for 1997
and 1998 (assuming that 1998 is the current year).
|
|
1996 |
1997 |
1998 |
|
|
p2×q0 |
p2×q1 |
p2×q2 |
|
Technical |
97200 |
113400 |
121500 |
|
Operators |
101250 |
86250 |
67500 |
|
Skilled |
112500 |
85000 |
55000 |
|
Total |
310950 |
284650 |
244000 |
|
|
310950/310950 |
284650/310950 |
244000/310950 |
|
|
|
|
|
|
Answer: |
1997 |
1998 |
|
|
Paasche Quantity |
91.54 |
78.47 |
|