Statistics for Economics Chapter 12 | Part 4 | Index Numbers - Weighted

Economics (Grade 11): High school Learning;
Index Numbers | Weighted Index Numbers

Weighted Index Numbers 00:00:20 - 00:03:19
*Weighted Aggregative Method

Methods to construct index numbers by weighted aggregative method are:-

a) Laspeyre's Method 00:03:20 - 00:04:46
~ This method was introduced by Laspeyre in 1871
~ In this method weights are represented by the quantities of the commodities in the base year

b) Paasche's Method 00:04:47 - 00:06:04
~ This method was introduced by Paasche in 1874
~ In this method weights are represented by the quantities of the commodities in the current year

c) Fisher's Method 00:06:05 - 00:07:41
~ This method was introduced by Prof. Irvin Fisher
~ In this method weights are represented by the quantities of the commodities in both the base year and current year

Example (All three methods) 00:07:42 - 00:11:54

Weighted Average of Price Relatives Method 00:11:55 - 00:13:33

Example (Weighted Average of Price Relatives Method) 00:13:34

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[mr.knowledge]

Well appreciated to you for good video

[rubinamohammed]

Weighted index number is also called quantity index