Management > Managerial Statistics > Index Number By Simple Average of Relative Method Simple Average of Relative Method Using Arithmetic Mean: In this method, average of price relative of commodity is calculated. Steps involved Find price relative for each commodity for the current year using the formula R = (P1 / P0) × 100. Add […]
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Simple Average of Relative Method
- Post author By Hemant More
- Post date June 28, 2019
- 1 Comment on Simple Average of Relative Method
- Tags Arithmetic mean, Base year, Chain base, Choice of average, Commodities, Different Weighted Index Method, Dorbish and Browley's Method, Explicit method, Fisher's Ideal Index Number, Fixed base, Geometric mean, Implicit method, Index Number, Lapeyre's Index Number, Managerial Statistics, Marshall Edgeworth Method, Paasche's Index Number, Price index, Price Index by Dorbish and Browley's Method, Price Index by Fisher's Method, Price Index by Laspeyre’s Method, Price Index by Marshall Edgeworth Method, Price Index Number by Paasche's Method, Quantity index, Quantity Index by Dorbish and Browley's Method, Quantity Index by Fisher's Method, Quantity Index by Laspeyre’s Method, Quantity Index by Marshall Edgeworth Method, Quantity Index by Paasche's Method, Selection of Weights, Simple Aggregative Method, Simple Average of Relative Method, Statistics, Value index