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Weighted Index Number - How do you do this???
Here is the question:
These are the values for the groups Alcoholic drink and Tobacco
Group
Alcoholic drink
Tobacco
Weighting
Alcoholic drink: 83
Tobacco: 36
Index
Alcoholic drink: 114.7
106.4
Calculate a weighted index for these two items only
how on earth do you do this???
do you use the formula (price) divide (price in base year) x 100 ???
thanks for any help, i will worship you with rep
These are the values for the groups Alcoholic drink and Tobacco
Group
Alcoholic drink
Tobacco
Weighting
Alcoholic drink: 83
Tobacco: 36
Index
Alcoholic drink: 114.7
106.4
Calculate a weighted index for these two items only
how on earth do you do this???
do you use the formula (price) divide (price in base year) x 100 ???
thanks for any help, i will worship you with rep
Right I have no idea what I'm talking about but if you require a weighted MEAN index value for those two items the calculation is:
(1 d.p.)
(1 d.p.)
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