Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev

Business Mathematics and Statistics

Created by: Arshit Thakur

B Com : Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev

The document Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev is a part of the B Com Course Business Mathematics and Statistics.
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QUANTITY INDEX NUMBERS

Just as the price index number measures the changing prices of the goods so a quantity index number measures the change in quantity/volume of the goods produced, sold or consumed. The method of construction of quantity index number are similar to the methods discussed above in the context of price index. The only difference is that the quantity index formula are obtained from the corresponding price index formula by an interchange of p by q & q by p.
Thus the following list of formulae can be derived :

Unweighted Index : Simple Aggregative Method

Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev

Unweighted Index : Simple Average of Quantity Relative Method –

When Arithmetic Mean is used for averaging the relatives

Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev

– When Geometric Mean is used for averaging the relatives

Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev

Weighted Index : Simple Aggregative Method

– Laspeyres’ Method

Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev

– Paasche’s Method

Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev

– Dorbish & Bowley’s Method

Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev

– Fisher ‘ideal’ Method

Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev

– Marshall-Edgeworth Method

Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev

— Kelly’s Method

Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev


Weighted Index : Weighted Average of Relative Method

– When Arithmetic Mean is used for averaging

Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev

where  Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev

– When Geometric Mean is used for averaging

Quantity Index Numbers, Business Mathematics and Statistics B Com Notes | EduRev

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